DUK vs FNGD: Correlation
Duke Energy (DUK) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and FNGD?
On 3 years of weekly data the DUK/FNGD correlation comes out at 0.26, weak. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. The 5-year figure is 0.07, and annualized covariance runs at 316.3 %².
Within DUK's tracked universe of 53 assets, FNGD comes in at #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DUK ahead by 56.8 points (+1.1% versus -55.7%). Note the risk asymmetry: FNGD runs 4.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DUK vs FNGD: side by side
| DUK (Duke Energy) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +1.1% | -55.7% |
| 5-year return | +39.8% | -99.4% |
| Volatility (ann.) | 15.9% | 75.7% |
| Beta vs S&P 500 | -0.09 | -4.54 |
| Max drawdown (3Y) | -11.6% | -97.6% |
| Market cap | $94.2B | – |
| P/E (trailing) | 18.3 | 20.6 |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | DUK | FNGD |
|---|---|---|
| 2022 | +2.0% | +52.2% |
| 2023 | -1.6% | -90.1% |
| 2024 | +15.6% | -76.6% |
| 2025 | +12.7% | -61.4% |
| 2026 | +5.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and FNGD good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DUK and FNGD?
The DUK/FNGD correlation stands at 0.26 on a 3-year window (1 year: 0.33, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DUK?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/duk-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/duk-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DUK correlations · FNGD correlations
