FNGD vs LOW: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lowe's (LOW) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LOW?
Across a 3-year window, the weekly returns of FNGD and LOW correlate at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.25 over 3. Stretching to 5 years gives -0.37, with an annualized covariance of -475.1 %².
Among the 1743 assets we track against FNGD, LOW ranks #429 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LOW ahead by 37.3 points (-55.7% versus -18.4%). Risk is not evenly split, since FNGD carries 3.1 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 LOW: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LOW (Lowe's) | |
|---|---|---|
| 1-year return | -55.7% | -18.4% |
| 5-year return | -99.4% | +11.1% |
| Volatility (ann.) | 75.7% | 24.8% |
| Beta vs S&P 500 | -4.54 | 0.83 |
| Max drawdown (3Y) | -97.6% | -29.0% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 17.8 |
| Dividend yield | 0.00% | 2.31% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FNGD | LOW |
|---|---|---|
| 2022 | +52.2% | -21.5% |
| 2023 | -90.1% | +14.0% |
| 2024 | -76.6% | +13.0% |
| 2025 | -61.4% | -0.3% |
| 2026 | -49.5% | -12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LOW good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and LOW?
The FNGD/LOW correlation stands at -0.25 on a 3-year window (1 year: -0.18, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is LOW a good diversifier for FNGD?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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.
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Related comparisons
Hubs: FNGD correlations · LOW correlations
