DCO vs FNGD: Correlation
How closely do Ducommun Incorporated (DCO) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCO and FNGD?
On 3 years of weekly data the DCO/FNGD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.25). The 5-year figure is -0.27, and annualized covariance runs at -564.0 %².
Among the 12 assets we track against DCO, FNGD sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months DCO outperformed by 155.2 percentage points (+99.5% for DCO against -55.7% for FNGD). One caveat on sizing: FNGD is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DCO vs FNGD: side by side
| DCO (Ducommun Incorporated) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +99.5% | -55.7% |
| 5-year return | +248.0% | -99.4% |
| Volatility (ann.) | 30.0% | 75.7% |
| Beta vs S&P 500 | 0.78 | -4.54 |
| Max drawdown (3Y) | -23.5% | -97.6% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCO | FNGD |
|---|---|---|
| 2022 | +6.8% | +52.2% |
| 2023 | +4.2% | -90.1% |
| 2024 | +22.3% | -76.6% |
| 2025 | +49.4% | -61.4% |
| 2026 | +93.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCO and FNGD good diversifiers for each other?
Yes. With a correlation of -0.25, DCO and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DCO and FNGD?
The DCO/FNGD correlation stands at -0.25 on a 3-year window (1 year: -0.14, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DCO?
Yes. With a correlation of -0.25, DCO and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/dco-vs-fngd/)
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Related comparisons
Hubs: DCO correlations · FNGD correlations
