FNGD vs ITRN: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Ituran Location and Control Ltd. (ITRN) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ITRN?
Across a 3-year window, the weekly returns of FNGD and ITRN correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.33, with an annualized covariance of -595.4 %².
Among the 1743 assets we track against FNGD, ITRN ranks #605 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ITRN ahead by 108.0 points (-55.7% versus +52.3%). Risk is not evenly split, since FNGD carries 2.6 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 ITRN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ITRN (Ituran Location and Control Ltd.) | |
|---|---|---|
| 1-year return | -55.7% | +52.3% |
| 5-year return | -99.4% | +146.4% |
| Volatility (ann.) | 75.7% | 29.1% |
| Beta vs S&P 500 | -4.54 | 0.84 |
| Max drawdown (3Y) | -97.6% | -26.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | 20.6 | 16.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ITRN |
|---|---|---|
| 2022 | +52.2% | -18.8% |
| 2023 | -90.1% | +32.5% |
| 2024 | -76.6% | +21.0% |
| 2025 | -61.4% | +45.6% |
| 2026 | -49.5% | +25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ITRN good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and ITRN?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.29 over the last year and -0.33 over 5 years.
Is ITRN a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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-itrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-itrn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · ITRN correlations
