FNGD vs KTB: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Kontoor Brands, Inc. (KTB) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and KTB?
Over the past 3 years, FNGD and KTB moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -813.0 %².
Among the 1743 assets we track against FNGD, KTB ranks #339 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KTB ahead by 56.6 points (-55.7% versus +0.9%). One caveat on sizing: FNGD is 1.7 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 KTB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KTB (Kontoor Brands, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +0.9% |
| 5-year return | -99.4% | +65.6% |
| Volatility (ann.) | 75.7% | 44.3% |
| Beta vs S&P 500 | -4.54 | 1.05 |
| Max drawdown (3Y) | -97.6% | -44.9% |
| Market cap | – | $4.2B |
| P/E (trailing) | 20.6 | 15.6 |
| Dividend yield | 0.00% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | KTB |
|---|---|---|
| 2022 | +52.2% | -18.3% |
| 2023 | -90.1% | +62.6% |
| 2024 | -76.6% | +40.7% |
| 2025 | -61.4% | -26.3% |
| 2026 | -49.5% | +27.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KTB good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and KTB?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.16 over the last year and -0.28 over 5 years.
Is KTB a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-ktb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-ktb/)
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Related comparisons
Hubs: FNGD correlations · KTB correlations
