DUK vs FNGO: Correlation
Duke Energy (DUK) and MicroSectors FANG Index 2X Leveraged ETNs due January 8 (FNGO) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and FNGO?
Over the past 3 years, DUK and FNGO moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -223.7 %².
Among the 53 assets we track against DUK, FNGO ranks #48 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FNGO outperformed by 32.6 percentage points (+1.1% for DUK against +33.7% for FNGO). Risk is not evenly split, since FNGO carries 3.3 times the volatility of the other side.
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 FNGO: side by side
| DUK (Duke Energy) | FNGO (MicroSectors FANG Index 2X Leveraged ETNs due January 8) | |
|---|---|---|
| 1-year return | +1.1% | +33.7% |
| 5-year return | +39.8% | +220.3% |
| Volatility (ann.) | 15.9% | 51.9% |
| Beta vs S&P 500 | -0.09 | 3.12 |
| Max drawdown (3Y) | -11.6% | -47.6% |
| Market cap | $94.2B | – |
| P/E (trailing) | 18.3 | 30.8 |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | DUK | FNGO |
|---|---|---|
| 2022 | +2.0% | -71.6% |
| 2023 | -1.6% | +240.1% |
| 2024 | +15.6% | +101.7% |
| 2025 | +12.7% | +25.5% |
| 2026 | +5.8% | +30.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and FNGO good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DUK and FNGO?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.33 over the last year and -0.06 over 5 years.
Is FNGO a good diversifier for DUK?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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-fngo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/duk-vs-fngo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DUK correlations · FNGO correlations
