FNGD vs FT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Franklin Universal Trust (FT) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and FT?
Over the past 3 years, FNGD and FT moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.16) sits close to the 3-year figure. Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -167.8 %².
Among the 1743 assets we track against FNGD, FT ranks #114 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FT ahead by 60.5 points (-55.7% versus +4.8%). Note the risk asymmetry: FNGD runs 7.2 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.
FNGD vs FT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | FT (Franklin Universal Trust) | |
|---|---|---|
| 1-year return | -55.7% | +4.8% |
| 5-year return | -99.4% | +31.6% |
| Volatility (ann.) | 75.7% | 10.5% |
| Beta vs S&P 500 | -4.54 | 0.32 |
| Max drawdown (3Y) | -97.6% | -10.6% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 6.0 |
| Dividend yield | 0.00% | 6.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | FT |
|---|---|---|
| 2022 | +52.2% | -14.0% |
| 2023 | -90.1% | +6.6% |
| 2024 | -76.6% | +18.4% |
| 2025 | -61.4% | +17.0% |
| 2026 | -49.5% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and FT good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and FT?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.16 over the last year and -0.27 over 5 years.
Is FT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/fngd-vs-ft.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ft/)
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Related comparisons
Hubs: FNGD correlations · FT correlations
