DRH vs FNGD: Correlation
How closely do Diamondrock Hospitality Company (DRH) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRH and FNGD?
Across a 3-year window, the weekly returns of DRH and FNGD correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.13) than the 3-year average (-0.26). Stretching to 5 years gives -0.36, with an annualized covariance of -490.0 %².
FNGD is close to the least connected end of DRH's tracked universe, ranking #18 of 20. Their recent paths diverged sharply: over the last 12 months DRH outperformed by 109.5 percentage points (+53.8% for DRH against -55.7% for FNGD). One caveat on sizing: FNGD is 3.0 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.
DRH vs FNGD: side by side
| DRH (Diamondrock Hospitality Company) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +53.8% | -55.7% |
| 5-year return | +60.8% | -99.4% |
| Volatility (ann.) | 25.1% | 75.7% |
| Beta vs S&P 500 | 0.80 | -4.54 |
| Max drawdown (3Y) | -31.9% | -97.6% |
| Market cap | $2.6B | – |
| P/E (trailing) | 17.6 | 20.6 |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DRH | FNGD |
|---|---|---|
| 2022 | -13.8% | +52.2% |
| 2023 | +16.3% | -90.1% |
| 2024 | -0.3% | -76.6% |
| 2025 | +3.7% | -61.4% |
| 2026 | +44.1% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRH and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between DRH and FNGD?
As of 2026-08-27, the correlation of weekly returns between DRH and FNGD is -0.26 over 3 years, 0.13 over 1 year and -0.36 over 5 years.
Is FNGD a good diversifier for DRH?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/drh-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/drh-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DRH correlations · FNGD correlations
