FNGD vs MAS: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Masco (MAS) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MAS?
Over the past 3 years, FNGD and MAS moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.22). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -499.0 %².
Within FNGD's tracked universe of 1743 assets, MAS comes in at #180 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MAS ahead by 55.2 points (-55.7% versus -0.5%). One caveat on sizing: FNGD is 2.6 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 MAS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MAS (Masco) | |
|---|---|---|
| 1-year return | -55.7% | -0.5% |
| 5-year return | -99.4% | +29.1% |
| Volatility (ann.) | 75.7% | 29.6% |
| Beta vs S&P 500 | -4.54 | 0.95 |
| Max drawdown (3Y) | -97.6% | -30.9% |
| Market cap | – | $14.4B |
| P/E (trailing) | 20.6 | 17.0 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | MAS |
|---|---|---|
| 2022 | +52.2% | -32.1% |
| 2023 | -90.1% | +46.6% |
| 2024 | -76.6% | +10.0% |
| 2025 | -61.4% | -10.9% |
| 2026 | -49.5% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MAS good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MAS?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.08 over the last year and -0.36 over 5 years.
Is MAS a good diversifier for FNGD?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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-mas.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-mas/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · MAS correlations
