FEAM vs FNGD: Correlation
How closely do 5E Advanced Materials, Inc. (FEAM) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEAM and FNGD?
Across a 3-year window, the weekly returns of FEAM and FNGD correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.16, with an annualized covariance of -1801.9 %².
Out of 10 assets tracked against FEAM, FNGD lands near the bottom at #10. Over the last 12 months FEAM came out ahead by 5.4 percentage points (-50.3% against -55.7%).
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.
FEAM vs FNGD: side by side
| FEAM (5E Advanced Materials, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -50.3% | -55.7% |
| 5-year return | -99.8% | -99.4% |
| Volatility (ann.) | 100.5% | 75.7% |
| Beta vs S&P 500 | 1.66 | -4.54 |
| Max drawdown (3Y) | -98.6% | -97.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FEAM | FNGD |
|---|---|---|
| 2022 | – | +52.2% |
| 2023 | -82.1% | -90.1% |
| 2024 | -54.6% | -76.6% |
| 2025 | -79.3% | -61.4% |
| 2026 | -44.3% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEAM and FNGD good diversifiers for each other?
Yes. With a correlation of -0.24, FEAM and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FEAM and FNGD?
As of 2026-08-27, the correlation of weekly returns between FEAM and FNGD is -0.24 over 3 years, -0.23 over 1 year and -0.16 over 5 years.
Is FNGD a good diversifier for FEAM?
Yes. With a correlation of -0.24, FEAM and FNGD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/feam-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/feam-vs-fngd/)
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Related comparisons
Hubs: FEAM correlations · FNGD correlations
