FNGD vs OPHC: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and OptimumBank Holdings, Inc. (OPHC) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and OPHC?
On 3 years of weekly data the FNGD/OPHC correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -564.8 %².
Among the 1743 assets we track against FNGD, OPHC ranks #268 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OPHC outperformed by 155.7 percentage points (-55.7% for FNGD against +100.0% for OPHC). One caveat on sizing: FNGD is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 OPHC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | OPHC (OptimumBank Holdings, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +100.0% |
| 5-year return | -99.4% | +84.4% |
| Volatility (ann.) | 75.7% | 32.0% |
| Beta vs S&P 500 | -4.54 | 0.67 |
| Max drawdown (3Y) | -97.6% | -34.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | 10.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | OPHC |
|---|---|---|
| 2022 | +52.2% | +4.1% |
| 2023 | -90.1% | +2.2% |
| 2024 | -76.6% | +13.9% |
| 2025 | -61.4% | -10.7% |
| 2026 | -49.5% | +105.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and OPHC good diversifiers for each other?
Yes. With a correlation of -0.23, FNGD and OPHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and OPHC?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.17 over the last year and -0.13 over 5 years.
Is OPHC a good diversifier for FNGD?
Yes. With a correlation of -0.23, FNGD and OPHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-ophc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-ophc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · OPHC correlations
