FNGD vs LTBR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Lightbridge Corporation (LTBR) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and LTBR?
Across a 3-year window, the weekly returns of FNGD and LTBR correlate at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.30 over 3 years. Stretching to 5 years gives -0.28, with an annualized covariance of -2569.6 %².
By 3-year correlation, LTBR places #841 of the 1743 assets tracked against FNGD. Over the last 12 months LTBR came out ahead by 8.1 percentage points (-55.7% against -47.6%).
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 LTBR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | LTBR (Lightbridge Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -47.6% |
| 5-year return | -99.4% | +32.0% |
| Volatility (ann.) | 75.7% | 111.3% |
| Beta vs S&P 500 | -4.54 | 2.17 |
| Max drawdown (3Y) | -97.6% | -74.0% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | LTBR |
|---|---|---|
| 2022 | +52.2% | -41.3% |
| 2023 | -90.1% | -17.5% |
| 2024 | -76.6% | +47.4% |
| 2025 | -61.4% | +167.2% |
| 2026 | -49.5% | -35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and LTBR good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and LTBR?
The FNGD/LTBR correlation stands at -0.30 on a 3-year window (1 year: -0.53, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is LTBR a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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-ltbr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-ltbr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · LTBR correlations
