FNGD vs MIR: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Mirion Technologies, Inc. (MIR) show a negative relationship: their 3-year correlation of weekly returns is -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MIR?
Across a 3-year window, the weekly returns of FNGD and MIR correlate at -0.48, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Stretching to 5 years gives -0.47, with an annualized covariance of -1510.7 %².
By 3-year correlation, MIR places #1555 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with MIR ahead by 28.4 points (-55.7% versus -27.3%). One caveat on sizing: FNGD is 1.8 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 MIR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MIR (Mirion Technologies, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -27.3% |
| 5-year return | -99.4% | +49.5% |
| Volatility (ann.) | 75.7% | 41.2% |
| Beta vs S&P 500 | -4.54 | 1.53 |
| Max drawdown (3Y) | -97.6% | -51.0% |
| Market cap | – | $3.7B |
| P/E (trailing) | 20.6 | 165.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MIR |
|---|---|---|
| 2022 | +52.2% | -36.9% |
| 2023 | -90.1% | +55.1% |
| 2024 | -76.6% | +70.2% |
| 2025 | -61.4% | +34.2% |
| 2026 | -49.5% | -36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MIR good diversifiers for each other?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MIR?
As of 2026-08-27, the correlation of weekly returns between FNGD and MIR is -0.48 over 3 years, -0.43 over 1 year and -0.47 over 5 years.
Is MIR a good diversifier for FNGD?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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-mir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-mir/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · MIR correlations
