FNGD vs KITT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Nauticus Robotics, Inc. (KITT) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and KITT?
On 3 years of weekly data the FNGD/KITT correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -1947.3 %².
By 3-year correlation, KITT places #54 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with FNGD ahead by 43.2 points (-55.7% versus -98.9%). Risk is not evenly split, since KITT carries 1.8 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 KITT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KITT (Nauticus Robotics, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -98.9% |
| 5-year return | -99.4% | -100.0% |
| Volatility (ann.) | 75.7% | 133.4% |
| Beta vs S&P 500 | -4.54 | 1.50 |
| Max drawdown (3Y) | -97.6% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | KITT |
|---|---|---|
| 2022 | +52.2% | -62.4% |
| 2023 | -90.1% | -81.9% |
| 2024 | -76.6% | -93.6% |
| 2025 | -61.4% | -94.5% |
| 2026 | -49.5% | -87.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KITT good diversifiers for each other?
Yes. With a correlation of -0.19, FNGD and KITT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and KITT?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.22 over the last year and -0.12 over 5 years.
Is KITT a good diversifier for FNGD?
Yes. With a correlation of -0.19, FNGD and KITT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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-kitt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-kitt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · KITT correlations
