FNGD vs GRRR: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Gorilla Technology Group Inc. (GRRR) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GRRR?
Across a 3-year window, the weekly returns of FNGD and GRRR correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.26 over 3 years. Stretching to 5 years gives -0.04, with an annualized covariance of -2286.3 %².
Among the 1743 assets we track against FNGD, GRRR ranks #501 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GRRR outperformed by 52.6 percentage points (-55.7% for FNGD against -3.1% for GRRR). One caveat on sizing: GRRR is 1.5 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 GRRR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GRRR (Gorilla Technology Group Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -3.1% |
| 5-year return | -99.4% | -84.2% |
| Volatility (ann.) | 75.7% | 116.9% |
| Beta vs S&P 500 | -4.54 | 1.92 |
| Max drawdown (3Y) | -97.6% | -85.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GRRR |
|---|---|---|
| 2022 | +52.2% | -18.9% |
| 2023 | -90.1% | -93.4% |
| 2024 | -76.6% | +235.1% |
| 2025 | -61.4% | -39.5% |
| 2026 | -49.5% | +43.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GRRR good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and GRRR?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.46 over the last year and -0.04 over 5 years.
Is GRRR a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-grrr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-grrr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · GRRR correlations
