FNGD vs MRVL: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Marvell Technology (MRVL) show a negative relationship: their 3-year correlation of weekly returns is -0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MRVL?
Across a 3-year window, the weekly returns of FNGD and MRVL correlate at -0.55, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.29 versus -0.55 over 3 years. Stretching to 5 years gives -0.59, with an annualized covariance of -2409.0 %².
Among the 1743 assets we track against FNGD, MRVL ranks #1645 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MRVL outperformed by 279.2 percentage points (-55.7% for FNGD against +223.5% for MRVL).
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 MRVL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MRVL (Marvell Technology) | |
|---|---|---|
| 1-year return | -55.7% | +223.5% |
| 5-year return | -99.4% | +297.0% |
| Volatility (ann.) | 75.7% | 57.8% |
| Beta vs S&P 500 | -4.54 | 2.19 |
| Max drawdown (3Y) | -97.6% | -60.8% |
| Market cap | – | $217.0B |
| P/E (trailing) | 20.6 | 82.7 |
| Dividend yield | 0.00% | 0.10% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGD | MRVL |
|---|---|---|
| 2022 | +52.2% | -57.5% |
| 2023 | -90.1% | +63.7% |
| 2024 | -76.6% | +83.8% |
| 2025 | -61.4% | -22.8% |
| 2026 | -49.5% | +184.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MRVL good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MRVL?
As of 2026-08-27, the correlation of weekly returns between FNGD and MRVL is -0.55 over 3 years, -0.29 over 1 year and -0.59 over 5 years.
Is MRVL a good diversifier for FNGD?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 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
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[](https://www.pairbook.io/pair/fngd-vs-mrvl/)
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Related comparisons
Hubs: FNGD correlations · MRVL correlations
