FNGD vs ORCL: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Oracle Corporation (ORCL) trade together? Their weekly returns over three years give a correlation of -0.55, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ORCL?
Over the past 3 years, FNGD and ORCL moved with a correlation of -0.55, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.61) sits close to the 3-year figure. Over 5 years the correlation is -0.51, and the annualized covariance of weekly returns is -2061.8 %².
Among the 1743 assets we track against FNGD, ORCL ranks #1647 by 3-year correlation. The last year tells two different stories: ORCL led by 20.9 percentage points, -55.7% for FNGD against -34.8% for ORCL. One caveat on sizing: FNGD is 1.5 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 ORCL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ORCL (Oracle Corporation) | |
|---|---|---|
| 1-year return | -55.7% | -34.8% |
| 5-year return | -99.4% | +81.7% |
| Volatility (ann.) | 75.7% | 49.9% |
| Beta vs S&P 500 | -4.54 | 1.71 |
| Max drawdown (3Y) | -97.6% | -64.6% |
| Market cap | – | $437.7B |
| P/E (trailing) | 20.6 | 25.5 |
| Dividend yield | 0.00% | 1.34% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGD | ORCL |
|---|---|---|
| 2022 | +52.2% | -4.6% |
| 2023 | -90.1% | +30.9% |
| 2024 | -76.6% | +60.0% |
| 2025 | -61.4% | +18.1% |
| 2026 | -49.5% | -21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ORCL good diversifiers for each other?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and ORCL?
As of 2026-08-27, the correlation of weekly returns between FNGD and ORCL is -0.55 over 3 years, -0.61 over 1 year and -0.51 over 5 years.
Is ORCL a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
What does a correlation of -0.55 mean?
A reading of -0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · ORCL correlations
