FNGD vs OCCI: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and OFS Credit Company, Inc. - Closed End Fund (OCCI) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and OCCI?
Across a 3-year window, the weekly returns of FNGD and OCCI correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.21, with an annualized covariance of -652.1 %².
By 3-year correlation, OCCI places #520 of the 1743 assets tracked against FNGD. Over the last 12 months OCCI came out ahead by 12.8 percentage points (-55.7% against -42.9%). Risk is not evenly split, since FNGD carries 2.3 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 OCCI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | OCCI (OFS Credit Company, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | -55.7% | -42.9% |
| 5-year return | -99.4% | -47.0% |
| Volatility (ann.) | 75.7% | 32.5% |
| Beta vs S&P 500 | -4.54 | 0.76 |
| Max drawdown (3Y) | -97.6% | -56.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 47.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | OCCI |
|---|---|---|
| 2022 | +52.2% | -25.8% |
| 2023 | -90.1% | -1.3% |
| 2024 | -76.6% | +31.4% |
| 2025 | -61.4% | -14.4% |
| 2026 | -49.5% | -36.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and OCCI good diversifiers for each other?
Yes. With a correlation of -0.26, FNGD and OCCI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and OCCI?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.22 over the last year and -0.21 over 5 years.
Is OCCI a good diversifier for FNGD?
Yes. With a correlation of -0.26, FNGD and OCCI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-occi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-occi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · OCCI correlations
