FNGD vs GTM: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ZoomInfo Technologies Inc. (GTM) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and GTM?
Across a 3-year window, the weekly returns of FNGD and GTM correlate at -0.36, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.36 over 3. Stretching to 5 years gives -0.49, with an annualized covariance of -1524.4 %².
Within FNGD's tracked universe of 1743 assets, GTM comes in at #1183 by 3-year correlation. Over the last 12 months FNGD came out ahead by 6.3 percentage points (-55.7% against -62.0%).
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 GTM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | GTM (ZoomInfo Technologies Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -62.0% |
| 5-year return | -99.4% | -93.6% |
| Volatility (ann.) | 75.7% | 55.9% |
| Beta vs S&P 500 | -4.54 | 1.57 |
| Max drawdown (3Y) | -97.6% | -86.2% |
| Market cap | – | $1.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | GTM |
|---|---|---|
| 2022 | +52.2% | -53.1% |
| 2023 | -90.1% | -38.6% |
| 2024 | -76.6% | -43.2% |
| 2025 | -61.4% | -3.2% |
| 2026 | -49.5% | -59.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and GTM good diversifiers for each other?
Yes. With a correlation of -0.36, FNGD and GTM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and GTM?
The FNGD/GTM correlation stands at -0.36 on a 3-year window (1 year: -0.41, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is GTM a good diversifier for FNGD?
Yes. With a correlation of -0.36, FNGD and GTM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 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.
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Related comparisons
Hubs: FNGD correlations · GTM correlations
