FNGD vs JLL: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Jones Lang LaSalle Incorporated (JLL) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and JLL?
Across a 3-year window, the weekly returns of FNGD and JLL correlate at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.33 over 3 years. Stretching to 5 years gives -0.41, with an annualized covariance of -861.6 %².
By 3-year correlation, JLL places #1043 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with JLL ahead by 79.5 points (-55.7% versus +23.8%). One caveat on sizing: FNGD is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 JLL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | JLL (Jones Lang LaSalle Incorporated) | |
|---|---|---|
| 1-year return | -55.7% | +23.8% |
| 5-year return | -99.4% | +55.9% |
| Volatility (ann.) | 75.7% | 34.9% |
| Beta vs S&P 500 | -4.54 | 1.30 |
| Max drawdown (3Y) | -97.6% | -30.6% |
| Market cap | – | $17.4B |
| P/E (trailing) | 20.6 | 18.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | JLL |
|---|---|---|
| 2022 | +52.2% | -40.8% |
| 2023 | -90.1% | +18.5% |
| 2024 | -76.6% | +34.0% |
| 2025 | -61.4% | +32.9% |
| 2026 | -49.5% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and JLL good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and JLL?
The FNGD/JLL correlation stands at -0.33 on a 3-year window (1 year: -0.22, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is JLL a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
A reading of -0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · JLL correlations
