FNGD vs KTOS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Kratos Defense & Security Solutions, Inc. (KTOS) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and KTOS?
On 3 years of weekly data the FNGD/KTOS correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.34 over 3. The 5-year figure is -0.35, and annualized covariance runs at -1562.1 %².
By 3-year correlation, KTOS places #1087 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months KTOS outperformed by 34.7 percentage points (-55.7% for FNGD against -21.0% for KTOS).
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 KTOS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | KTOS (Kratos Defense & Security Solutions, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -21.0% |
| 5-year return | -99.4% | +117.5% |
| Volatility (ann.) | 75.7% | 59.9% |
| Beta vs S&P 500 | -4.54 | 1.62 |
| Max drawdown (3Y) | -97.6% | -66.4% |
| Market cap | – | $10.1B |
| P/E (trailing) | 20.6 | 315.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | KTOS |
|---|---|---|
| 2022 | +52.2% | -46.8% |
| 2023 | -90.1% | +96.6% |
| 2024 | -76.6% | +30.0% |
| 2025 | -61.4% | +187.8% |
| 2026 | -49.5% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and KTOS good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and KTOS?
The FNGD/KTOS correlation stands at -0.34 on a 3-year window (1 year: -0.39, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is KTOS a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-ktos.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ktos/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · KTOS correlations
