FNGD vs PDT: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and John Hancock Premium Dividend Fund (PDT) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PDT?
On 3 years of weekly data the FNGD/PDT correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.24). The 5-year figure is -0.29, and annualized covariance runs at -288.0 %².
Within FNGD's tracked universe of 1743 assets, PDT comes in at #359 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PDT outperformed by 57.0 percentage points (-55.7% for FNGD against +1.3% for PDT). Note the risk asymmetry: FNGD runs 4.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 PDT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PDT (John Hancock Premium Dividend Fund) | |
|---|---|---|
| 1-year return | -55.7% | +1.3% |
| 5-year return | -99.4% | +12.6% |
| Volatility (ann.) | 75.7% | 15.8% |
| Beta vs S&P 500 | -4.54 | 0.52 |
| Max drawdown (3Y) | -97.6% | -11.8% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 4.9 |
| Dividend yield | 0.00% | 7.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PDT |
|---|---|---|
| 2022 | +52.2% | -16.3% |
| 2023 | -90.1% | -9.5% |
| 2024 | -76.6% | +30.0% |
| 2025 | -61.4% | +7.7% |
| 2026 | -49.5% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PDT good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PDT?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.09 over the last year and -0.29 over 5 years.
Is PDT a good diversifier for FNGD?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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-pdt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-pdt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PDT correlations
