FNGD vs NNE: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Nano Nuclear Energy Inc. (NNE) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NNE?
Across a 3-year window, the weekly returns of FNGD and NNE correlate at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.60) than the 3-year average (-0.41). Stretching to 5 years gives n/a, with an annualized covariance of -5016.1 %².
Among the 1743 assets we track against FNGD, NNE ranks #1390 by 3-year correlation. The trailing year gives NNE the advantage: -55.7% versus -41.5%, a 14.2-point spread. Risk is not evenly split, since NNE carries 2.0 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 NNE: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NNE (Nano Nuclear Energy Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -41.5% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 155.1% |
| Beta vs S&P 500 | -4.54 | 4.18 |
| Max drawdown (3Y) | -97.6% | -77.7% |
| Market cap | – | $1.0B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NNE |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | – |
| 2024 | -76.6% | – |
| 2025 | -61.4% | -3.6% |
| 2026 | -49.5% | -19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NNE good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and NNE?
As of 2026-08-27, the correlation of weekly returns between FNGD and NNE is -0.41 over 3 years, -0.60 over 1 year and n/a over 5 years.
Is NNE a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
A reading of -0.41 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-nne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-nne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · NNE correlations
