FNGD vs JHI: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and John Hancock Investors Trust (JHI) show a negative relationship: their 3-year correlation of weekly returns is -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and JHI?
Across a 3-year window, the weekly returns of FNGD and JHI correlate at -0.41, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.51 versus -0.41 over 3 years. Stretching to 5 years gives -0.44, with an annualized covariance of -287.0 %².
By 3-year correlation, JHI places #1388 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with JHI ahead by 58.0 points (-55.7% versus +2.3%). Note the risk asymmetry: FNGD runs 8.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 JHI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | JHI (John Hancock Investors Trust) | |
|---|---|---|
| 1-year return | -55.7% | +2.3% |
| 5-year return | -99.4% | +3.7% |
| Volatility (ann.) | 75.7% | 9.3% |
| Beta vs S&P 500 | -4.54 | 0.37 |
| Max drawdown (3Y) | -97.6% | -11.2% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 8.6 |
| Dividend yield | 0.00% | 9.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | JHI |
|---|---|---|
| 2022 | +52.2% | -29.5% |
| 2023 | -90.1% | +10.6% |
| 2024 | -76.6% | +14.4% |
| 2025 | -61.4% | +9.1% |
| 2026 | -49.5% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and JHI good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and JHI?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.51 over the last year and -0.44 over 5 years.
Is JHI a good diversifier for FNGD?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 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-jhi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-jhi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · JHI correlations
