FNGD vs MYFW: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and First Western Financial, Inc. (MYFW) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MYFW?
Across a 3-year window, the weekly returns of FNGD and MYFW correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.26). Stretching to 5 years gives -0.21, with an annualized covariance of -673.6 %².
Within FNGD's tracked universe of 1743 assets, MYFW comes in at #514 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MYFW ahead by 88.8 points (-55.7% versus +33.1%). Risk is not evenly split, since FNGD carries 2.2 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 MYFW: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MYFW (First Western Financial, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +33.1% |
| 5-year return | -99.4% | +13.7% |
| Volatility (ann.) | 75.7% | 34.7% |
| Beta vs S&P 500 | -4.54 | 1.08 |
| Max drawdown (3Y) | -97.6% | -37.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | 16.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MYFW |
|---|---|---|
| 2022 | +52.2% | -7.3% |
| 2023 | -90.1% | -29.6% |
| 2024 | -76.6% | -1.4% |
| 2025 | -61.4% | +37.1% |
| 2026 | -49.5% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MYFW good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and MYFW?
As of 2026-08-27, the correlation of weekly returns between FNGD and MYFW is -0.26 over 3 years, -0.10 over 1 year and -0.21 over 5 years.
Is MYFW a good diversifier for FNGD?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FNGD correlations · MYFW correlations
