FNGD vs OGI: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Organigram Global Inc. (OGI) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and OGI?
On 3 years of weekly data the FNGD/OGI correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.13 versus -0.32 over 3 years. The 5-year figure is -0.37, and annualized covariance runs at -1544.8 %².
By 3-year correlation, OGI places #978 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with OGI ahead by 29.4 points (-55.7% versus -26.3%).
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 OGI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | OGI (Organigram Global Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -26.3% |
| 5-year return | -99.4% | -88.1% |
| Volatility (ann.) | 75.7% | 64.6% |
| Beta vs S&P 500 | -4.54 | 1.67 |
| Max drawdown (3Y) | -97.6% | -68.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | 20.6 | 2.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | OGI |
|---|---|---|
| 2022 | +52.2% | -54.3% |
| 2023 | -90.1% | -59.1% |
| 2024 | -76.6% | +22.9% |
| 2025 | -61.4% | +4.3% |
| 2026 | -49.5% | -26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and OGI good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and OGI?
As of 2026-08-27, the correlation of weekly returns between FNGD and OGI is -0.32 over 3 years, -0.13 over 1 year and -0.37 over 5 years.
Is OGI a good diversifier for FNGD?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 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-ogi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-ogi/)
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Related comparisons
Hubs: FNGD correlations · OGI correlations
