FNGD vs NMRK: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Newmark Group, Inc. (NMRK) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NMRK?
Across a 3-year window, the weekly returns of FNGD and NMRK correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.28). Stretching to 5 years gives -0.34, with an annualized covariance of -922.8 %².
By 3-year correlation, NMRK places #715 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with NMRK ahead by 41.9 points (-55.7% versus -13.8%). One caveat on sizing: FNGD is 1.7 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 NMRK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NMRK (Newmark Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -13.8% |
| 5-year return | -99.4% | +23.3% |
| Volatility (ann.) | 75.7% | 43.4% |
| Beta vs S&P 500 | -4.54 | 1.49 |
| Max drawdown (3Y) | -97.6% | -36.6% |
| Market cap | – | $3.8B |
| P/E (trailing) | 20.6 | 19.7 |
| Dividend yield | 0.00% | 0.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NMRK |
|---|---|---|
| 2022 | +52.2% | -57.0% |
| 2023 | -90.1% | +39.9% |
| 2024 | -76.6% | +18.1% |
| 2025 | -61.4% | +36.5% |
| 2026 | -49.5% | -9.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NMRK good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and NMRK?
The FNGD/NMRK correlation stands at -0.28 on a 3-year window (1 year: -0.15, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is NMRK a good diversifier for FNGD?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-nmrk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-nmrk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · NMRK correlations
