FNGD vs OMC: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Omnicom Group (OMC) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and OMC?
On 3 years of weekly data the FNGD/OMC correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.18). The 5-year figure is -0.26, and annualized covariance runs at -387.6 %².
By 3-year correlation, OMC places #31 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with OMC ahead by 72.2 points (-55.7% versus +16.5%). Risk is not evenly split, since FNGD carries 2.7 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 OMC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | OMC (Omnicom Group) | |
|---|---|---|
| 1-year return | -55.7% | +16.5% |
| 5-year return | -99.4% | +45.6% |
| Volatility (ann.) | 75.7% | 28.0% |
| Beta vs S&P 500 | -4.54 | 0.76 |
| Max drawdown (3Y) | -97.6% | -33.3% |
| Market cap | – | $24.1B |
| P/E (trailing) | 20.6 | 237.5 |
| Dividend yield | 0.00% | 3.53% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | FNGD | OMC |
|---|---|---|
| 2022 | +52.2% | +15.7% |
| 2023 | -90.1% | +9.6% |
| 2024 | -76.6% | +2.5% |
| 2025 | -61.4% | -2.6% |
| 2026 | -49.5% | +11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and OMC good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and OMC?
The FNGD/OMC correlation stands at -0.18 on a 3-year window (1 year: -0.07, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is OMC a good diversifier for FNGD?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-omc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-omc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · OMC correlations
