FNGD vs MYRG: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and MYR Group, Inc. (MYRG) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MYRG?
Across a 3-year window, the weekly returns of FNGD and MYRG correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.35 over 3 years. Stretching to 5 years gives -0.33, with an annualized covariance of -1334.9 %².
Within FNGD's tracked universe of 1743 assets, MYRG comes in at #1145 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MYRG ahead by 121.2 points (-55.7% versus +65.5%). One caveat on sizing: FNGD is 1.5 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 MYRG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MYRG (MYR Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +65.5% |
| 5-year return | -99.4% | +196.6% |
| Volatility (ann.) | 75.7% | 49.8% |
| Beta vs S&P 500 | -4.54 | 1.63 |
| Max drawdown (3Y) | -97.6% | -50.3% |
| Market cap | – | $4.8B |
| P/E (trailing) | 20.6 | 29.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | MYRG |
|---|---|---|
| 2022 | +52.2% | -16.7% |
| 2023 | -90.1% | +57.1% |
| 2024 | -76.6% | +2.9% |
| 2025 | -61.4% | +46.9% |
| 2026 | -49.5% | +41.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MYRG good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and MYRG?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.09 over the last year and -0.33 over 5 years.
Is MYRG a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
A reading of -0.35 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-myrg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-myrg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · MYRG correlations
