FNGD vs FTDR: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Frontdoor, Inc. (FTDR) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and FTDR?
Over the past 3 years, FNGD and FTDR moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.35 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -1165.5 %².
Within FNGD's tracked universe of 1743 assets, FTDR comes in at #1131 by 3-year correlation. The last year tells two different stories: FTDR led by 89.3 percentage points, -55.7% for FNGD against +33.6% for FTDR. Note the risk asymmetry: FNGD runs 1.7 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 FTDR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | FTDR (Frontdoor, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +33.6% |
| 5-year return | -99.4% | +91.0% |
| Volatility (ann.) | 75.7% | 43.8% |
| Beta vs S&P 500 | -4.54 | 1.31 |
| Max drawdown (3Y) | -97.6% | -40.6% |
| Market cap | – | $5.7B |
| P/E (trailing) | 20.6 | 21.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | FTDR |
|---|---|---|
| 2022 | +52.2% | -43.2% |
| 2023 | -90.1% | +69.3% |
| 2024 | -76.6% | +55.2% |
| 2025 | -61.4% | +5.5% |
| 2026 | -49.5% | +43.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and FTDR good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and FTDR?
The FNGD/FTDR correlation stands at -0.35 on a 3-year window (1 year: -0.39, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is FTDR a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · FTDR correlations
