FNGD vs GGG: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Graco Inc. (GGG) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GGG?
On 3 years of weekly data the FNGD/GGG correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.00) runs above the 3-year figure (-0.31). The 5-year figure is -0.43, and annualized covariance runs at -447.0 %².
By 3-year correlation, GGG places #893 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with GGG ahead by 48.5 points (-55.7% versus -7.2%). One caveat on sizing: FNGD is 4.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 GGG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GGG (Graco Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -7.2% |
| 5-year return | -99.4% | +7.7% |
| Volatility (ann.) | 75.7% | 19.0% |
| Beta vs S&P 500 | -4.54 | 0.70 |
| Max drawdown (3Y) | -97.6% | -22.6% |
| Market cap | – | $12.9B |
| P/E (trailing) | 20.6 | 25.0 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GGG |
|---|---|---|
| 2022 | +52.2% | -15.5% |
| 2023 | -90.1% | +30.6% |
| 2024 | -76.6% | -1.7% |
| 2025 | -61.4% | -1.5% |
| 2026 | -49.5% | -1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GGG good diversifiers for each other?
Yes. With a correlation of -0.31, FNGD and GGG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and GGG?
The FNGD/GGG correlation stands at -0.31 on a 3-year window (1 year: -0.00, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is GGG a good diversifier for FNGD?
Yes. With a correlation of -0.31, FNGD and GGG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/fngd-vs-ggg.json
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[](https://www.pairbook.io/pair/fngd-vs-ggg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · GGG correlations
