FNGD vs LEU: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Centrus Energy Corp. (LEU) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LEU?
Over the past 3 years, FNGD and LEU moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.25). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1624.9 %².
By 3-year correlation, LEU places #428 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months LEU outperformed by 53.9 percentage points (-55.7% for FNGD against -1.8% for LEU).
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 LEU: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LEU (Centrus Energy Corp.) | |
|---|---|---|
| 1-year return | -55.7% | -1.8% |
| 5-year return | -99.4% | +636.7% |
| Volatility (ann.) | 75.7% | 84.8% |
| Beta vs S&P 500 | -4.54 | 1.67 |
| Max drawdown (3Y) | -97.6% | -66.4% |
| Market cap | – | $3.9B |
| P/E (trailing) | 20.6 | 98.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LEU |
|---|---|---|
| 2022 | +52.2% | -34.9% |
| 2023 | -90.1% | +67.5% |
| 2024 | -76.6% | +22.4% |
| 2025 | -61.4% | +264.4% |
| 2026 | -49.5% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LEU good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LEU?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.46 over the last year and -0.25 over 5 years.
Is LEU a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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-leu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-leu/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · LEU correlations
