FNGD vs ITT: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ITT Inc. (ITT) trade together? Their weekly returns over three years give a correlation of -0.51, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ITT?
Over the past 3 years, FNGD and ITT moved with a correlation of -0.51, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.30) than the 3-year average (-0.51). Over 5 years the correlation is -0.54, and the annualized covariance of weekly returns is -1059.3 %².
Within FNGD's tracked universe of 1743 assets, ITT comes in at #1601 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ITT ahead by 76.5 points (-55.7% versus +20.8%). Risk is not evenly split, since FNGD carries 2.8 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 ITT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ITT (ITT Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +20.8% |
| 5-year return | -99.4% | +124.4% |
| Volatility (ann.) | 75.7% | 27.4% |
| Beta vs S&P 500 | -4.54 | 1.33 |
| Max drawdown (3Y) | -97.6% | -29.1% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 40.9 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ITT |
|---|---|---|
| 2022 | +52.2% | -19.5% |
| 2023 | -90.1% | +48.9% |
| 2024 | -76.6% | +20.9% |
| 2025 | -61.4% | +22.5% |
| 2026 | -49.5% | +20.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ITT good diversifiers for each other?
Yes. With a correlation of -0.51, FNGD and ITT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and ITT?
Using weekly returns as of 2026-08-27: -0.51 over 3 years, with -0.30 over the last year and -0.54 over 5 years.
Is ITT a good diversifier for FNGD?
Yes. With a correlation of -0.51, FNGD and ITT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
A reading of -0.51 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-itt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-itt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · ITT correlations
