FNGD vs HUBB: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Hubbell Incorporated (HUBB) show a negative relationship: their 3-year correlation of weekly returns is -0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and HUBB?
Across a 3-year window, the weekly returns of FNGD and HUBB correlate at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.49 over 3 years. Stretching to 5 years gives -0.45, with an annualized covariance of -1040.5 %².
Among the 1743 assets we track against FNGD, HUBB ranks #1568 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HUBB ahead by 62.4 points (-55.7% versus +6.7%). Note the risk asymmetry: FNGD runs 2.7 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 HUBB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | HUBB (Hubbell Incorporated) | |
|---|---|---|
| 1-year return | -55.7% | +6.7% |
| 5-year return | -99.4% | +142.6% |
| Volatility (ann.) | 75.7% | 28.3% |
| Beta vs S&P 500 | -4.54 | 1.10 |
| Max drawdown (3Y) | -97.6% | -32.6% |
| Market cap | – | $24.8B |
| P/E (trailing) | 20.6 | 27.9 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | HUBB |
|---|---|---|
| 2022 | +52.2% | +15.1% |
| 2023 | -90.1% | +42.4% |
| 2024 | -76.6% | +28.9% |
| 2025 | -61.4% | +7.4% |
| 2026 | -49.5% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and HUBB good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and HUBB?
The FNGD/HUBB correlation stands at -0.49 on a 3-year window (1 year: -0.22, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is HUBB a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 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 · HUBB correlations
