FNGD vs KODK: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Eastman Kodak Company Common New (KODK) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and KODK?
On 3 years of weekly data the FNGD/KODK correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.22). The 5-year figure is -0.34, and annualized covariance runs at -1126.3 %².
By 3-year correlation, KODK places #176 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with KODK ahead by 117.3 points (-55.7% versus +61.6%).
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 KODK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KODK (Eastman Kodak Company Common New) | |
|---|---|---|
| 1-year return | -55.7% | +61.6% |
| 5-year return | -99.4% | +31.0% |
| Volatility (ann.) | 75.7% | 68.0% |
| Beta vs S&P 500 | -4.54 | 1.59 |
| Max drawdown (3Y) | -97.6% | -47.2% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | KODK |
|---|---|---|
| 2022 | +52.2% | -34.8% |
| 2023 | -90.1% | +27.9% |
| 2024 | -76.6% | +68.5% |
| 2025 | -61.4% | +28.8% |
| 2026 | -49.5% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KODK good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and KODK?
The FNGD/KODK correlation stands at -0.22 on a 3-year window (1 year: -0.03, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is KODK a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-kodk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-kodk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · KODK correlations
