FNGD vs INSG: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Inseego Corp. (INSG) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and INSG?
On 3 years of weekly data the FNGD/INSG correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.20 over 3. The 5-year figure is -0.30, and annualized covariance runs at -1558.0 %².
By 3-year correlation, INSG places #87 of the 1743 assets tracked against FNGD. On 12-month performance FNGD holds a 8.7-point edge, -55.7% against -64.4%.
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 INSG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | INSG (Inseego Corp.) | |
|---|---|---|
| 1-year return | -55.7% | -64.4% |
| 5-year return | -99.4% | -94.8% |
| Volatility (ann.) | 75.7% | 100.6% |
| Beta vs S&P 500 | -4.54 | 2.19 |
| Max drawdown (3Y) | -97.6% | -80.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | 31.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | INSG |
|---|---|---|
| 2022 | +52.2% | -85.6% |
| 2023 | -90.1% | -73.8% |
| 2024 | -76.6% | +366.4% |
| 2025 | -61.4% | +0.1% |
| 2026 | -49.5% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and INSG good diversifiers for each other?
Yes. With a correlation of -0.20, FNGD and INSG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and INSG?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.19 over the last year and -0.30 over 5 years.
Is INSG a good diversifier for FNGD?
Yes. With a correlation of -0.20, FNGD and INSG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-insg.json
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Related comparisons
Hubs: FNGD correlations · INSG correlations
