FNGD vs JNJ: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Johnson & Johnson (JNJ) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and JNJ?
On 3 years of weekly data the FNGD/JNJ correlation comes out at 0.25, weak. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.25 over 3 years. The 5-year figure is 0.11, and annualized covariance runs at 347.0 %².
Within FNGD's tracked universe of 1743 assets, JNJ comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months JNJ outperformed by 109.4 percentage points (-55.7% for FNGD against +53.7% for JNJ). Risk is not evenly split, since FNGD carries 4.1 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 JNJ: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | -55.7% | +53.7% |
| 5-year return | -99.4% | +76.0% |
| Volatility (ann.) | 75.7% | 18.5% |
| Beta vs S&P 500 | -4.54 | 0.05 |
| Max drawdown (3Y) | -97.6% | -14.4% |
| Market cap | – | $640.5B |
| P/E (trailing) | 20.6 | 30.9 |
| Dividend yield | 0.00% | 1.94% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FNGD | JNJ |
|---|---|---|
| 2022 | +52.2% | +6.0% |
| 2023 | -90.1% | -8.6% |
| 2024 | -76.6% | -4.8% |
| 2025 | -61.4% | +47.5% |
| 2026 | -49.5% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and JNJ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FNGD and JNJ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.54 over the last year and 0.11 over 5 years.
Is JNJ a good diversifier for FNGD?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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-jnj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-jnj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · JNJ correlations
