FNGD vs NVT: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and nVent Electric plc (NVT) carry a correlation of -0.60, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and NVT?
Over the past 3 years, FNGD and NVT moved with a correlation of -0.60, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.45) runs above the 3-year figure (-0.60). Over 5 years the correlation is -0.50, and the annualized covariance of weekly returns is -1664.4 %².
By 3-year correlation, NVT places #1673 of the 1743 assets tracked against FNGD. The last year tells two different stories: NVT led by 127.6 percentage points, -55.7% for FNGD against +71.9% for NVT. Risk is not evenly split, since FNGD carries 2.1 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 NVT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | -55.7% | +71.9% |
| 5-year return | -99.4% | +382.4% |
| Volatility (ann.) | 75.7% | 36.7% |
| Beta vs S&P 500 | -4.54 | 1.68 |
| Max drawdown (3Y) | -97.6% | -46.7% |
| Market cap | – | $25.2B |
| P/E (trailing) | 20.6 | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | NVT |
|---|---|---|
| 2022 | +52.2% | +3.3% |
| 2023 | -90.1% | +56.0% |
| 2024 | -76.6% | +16.6% |
| 2025 | -61.4% | +51.3% |
| 2026 | -49.5% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and NVT good diversifiers for each other?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and NVT?
Using weekly returns as of 2026-08-27: -0.60 over 3 years, with -0.45 over the last year and -0.50 over 5 years.
Is NVT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
What does a correlation of -0.60 mean?
On the −1 to +1 scale, -0.60 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-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-nvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · NVT correlations
