FNGD vs MOB: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Mobilicom Limited (MOB) 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 MOB?
Across a 3-year window, the weekly returns of FNGD and MOB correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.25 over 3 years. Stretching to 5 years gives -0.25, with an annualized covariance of -1828.9 %².
Within FNGD's tracked universe of 1743 assets, MOB comes in at #435 by 3-year correlation. The last year tells two different stories: MOB led by 53.1 percentage points, -55.7% for FNGD against -2.6% for MOB.
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 MOB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MOB (Mobilicom Limited) | |
|---|---|---|
| 1-year return | -55.7% | -2.6% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 95.6% |
| Beta vs S&P 500 | -4.54 | 1.42 |
| Max drawdown (3Y) | -97.6% | -69.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MOB |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | +100.0% |
| 2024 | -76.6% | +96.4% |
| 2025 | -61.4% | +60.1% |
| 2026 | -49.5% | -6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MOB good diversifiers for each other?
Yes. With a correlation of -0.25, FNGD and MOB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and MOB?
The FNGD/MOB correlation stands at -0.25 on a 3-year window (1 year: -0.48, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is MOB a good diversifier for FNGD?
Yes. With a correlation of -0.25, FNGD and MOB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-mob.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-mob/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · MOB correlations
