FNGD vs ISOU: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and IsoEnergy Ltd. (ISOU) show a negative relationship: their 3-year correlation of weekly returns is -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ISOU?
Across a 3-year window, the weekly returns of FNGD and ISOU correlate at -0.38, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.51 versus -0.38 over 3 years. Stretching to 5 years gives -0.35, with an annualized covariance of -1878.4 %².
Within FNGD's tracked universe of 1743 assets, ISOU comes in at #1276 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ISOU outperformed by 111.7 percentage points (-55.7% for FNGD against +56.0% for ISOU).
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 ISOU: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ISOU (IsoEnergy Ltd.) | |
|---|---|---|
| 1-year return | -55.7% | +56.0% |
| 5-year return | -99.4% | +42.5% |
| Volatility (ann.) | 75.7% | 65.5% |
| Beta vs S&P 500 | -4.54 | 1.86 |
| Max drawdown (3Y) | -97.6% | -69.0% |
| Market cap | – | $0.8B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ISOU |
|---|---|---|
| 2022 | +52.2% | -28.1% |
| 2023 | -90.1% | +31.1% |
| 2024 | -76.6% | -35.1% |
| 2025 | -61.4% | +26.0% |
| 2026 | -49.5% | +34.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ISOU good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and ISOU?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.51 over the last year and -0.35 over 5 years.
Is ISOU a good diversifier for FNGD?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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-isou.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-isou/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · ISOU correlations
