FNGD vs MOS: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Mosaic Company (The) (MOS) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MOS?
On 3 years of weekly data the FNGD/MOS correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.17 over 3 years. The 5-year figure is -0.19, and annualized covariance runs at -462.2 %².
Within FNGD's tracked universe of 1743 assets, MOS comes in at #19 by 3-year correlation. The last year tells two different stories: MOS led by 29.1 percentage points, -55.7% for FNGD against -26.6% for MOS. Risk is not evenly split, since FNGD carries 2.1 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 MOS: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MOS (Mosaic Company (The)) | |
|---|---|---|
| 1-year return | -55.7% | -26.6% |
| 5-year return | -99.4% | -17.1% |
| Volatility (ann.) | 75.7% | 36.6% |
| Beta vs S&P 500 | -4.54 | 0.78 |
| Max drawdown (3Y) | -97.6% | -45.7% |
| Market cap | – | $7.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 3.64% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | FNGD | MOS |
|---|---|---|
| 2022 | +52.2% | +12.8% |
| 2023 | -90.1% | -16.4% |
| 2024 | -76.6% | -29.1% |
| 2025 | -61.4% | +1.1% |
| 2026 | -49.5% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MOS good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MOS?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.04 over the last year and -0.19 over 5 years.
Is MOS a good diversifier for FNGD?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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-mos.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-mos/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · MOS correlations
