FNGD vs III: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Information Services Group, Inc. (III) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and III?
Across a 3-year window, the weekly returns of FNGD and III correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.22). Stretching to 5 years gives -0.32, with an annualized covariance of -647.9 %².
By 3-year correlation, III places #173 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months III outperformed by 61.3 percentage points (-55.7% for FNGD against +5.6% for III). Risk is not evenly split, since FNGD carries 2.0 times the volatility of the other side.
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 III: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | III (Information Services Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +5.6% |
| 5-year return | -99.4% | -14.6% |
| Volatility (ann.) | 75.7% | 38.4% |
| Beta vs S&P 500 | -4.54 | 0.99 |
| Max drawdown (3Y) | -97.6% | -41.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | 21.0 |
| Dividend yield | 0.00% | 3.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | III |
|---|---|---|
| 2022 | +52.2% | -38.1% |
| 2023 | -90.1% | +6.2% |
| 2024 | -76.6% | -25.3% |
| 2025 | -61.4% | +79.8% |
| 2026 | -49.5% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and III good diversifiers for each other?
Yes. With a correlation of -0.22, FNGD and III have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and III?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.41 over the last year and -0.32 over 5 years.
Is III a good diversifier for FNGD?
Yes. With a correlation of -0.22, FNGD and III have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
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Related comparisons
Hubs: FNGD correlations · III correlations
