ECC vs FNGD: Correlation
Measured on weekly returns over the past three years, Eagle Point Credit Company Common Share of Beneficial (ECC) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECC and FNGD?
Over the past 3 years, ECC and FNGD moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -517.6 %².
Out of 12 assets tracked against ECC, FNGD lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months ECC outperformed by 24.0 percentage points (-31.7% for ECC against -55.7% for FNGD). Note the risk asymmetry: FNGD runs 2.9 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.
ECC vs FNGD: side by side
| ECC (Eagle Point Credit Company Common Share of Beneficial) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -31.7% | -55.7% |
| 5-year return | -22.4% | -99.4% |
| Volatility (ann.) | 26.2% | 75.7% |
| Beta vs S&P 500 | 0.62 | -4.54 |
| Max drawdown (3Y) | -49.4% | -97.6% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 37.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECC | FNGD |
|---|---|---|
| 2022 | -11.7% | +52.2% |
| 2023 | +12.1% | -90.1% |
| 2024 | +13.4% | -76.6% |
| 2025 | -18.4% | -61.4% |
| 2026 | -21.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECC and FNGD good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ECC and FNGD?
The ECC/FNGD correlation stands at -0.26 on a 3-year window (1 year: -0.33, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for ECC?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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
$ curl https://www.pairbook.io/api/v1/pairs/ecc-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ecc-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECC correlations · FNGD correlations
