EHTH vs FNGD: Correlation
How closely do eHealth, Inc. (EHTH) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHTH and FNGD?
Over the past 3 years, EHTH and FNGD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.22 over 3 years. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -1197.3 %².
Among the 13 assets we track against EHTH, FNGD sits near the bottom by co-movement, at rank #11. The last year tells two different stories: FNGD led by 15.0 percentage points, -70.7% for EHTH against -55.7% for FNGD.
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.
EHTH vs FNGD: side by side
| EHTH (eHealth, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -70.7% | -55.7% |
| 5-year return | -97.0% | -99.4% |
| Volatility (ann.) | 70.4% | 75.7% |
| Beta vs S&P 500 | 1.11 | -4.54 |
| Max drawdown (3Y) | -89.8% | -97.6% |
| Market cap | – | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EHTH | FNGD |
|---|---|---|
| 2022 | -81.0% | +52.2% |
| 2023 | +80.2% | -90.1% |
| 2024 | +7.8% | -76.6% |
| 2025 | -51.1% | -61.4% |
| 2026 | -75.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHTH and FNGD good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EHTH and FNGD?
As of 2026-08-27, the correlation of weekly returns between EHTH and FNGD is -0.22 over 3 years, -0.38 over 1 year and -0.32 over 5 years.
Is FNGD a good diversifier for EHTH?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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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Related comparisons
Hubs: EHTH correlations · FNGD correlations
