FNGD vs PRCH: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Porch Group, Inc. (PRCH) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PRCH?
Over the past 3 years, FNGD and PRCH moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.44) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -2365.2 %².
Among the 1743 assets we track against FNGD, PRCH ranks #528 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PRCH ahead by 62.9 points (-55.7% versus +7.2%). Note the risk asymmetry: PRCH runs 1.6 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 PRCH: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PRCH (Porch Group, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +7.2% |
| 5-year return | -99.4% | -10.6% |
| Volatility (ann.) | 75.7% | 118.2% |
| Beta vs S&P 500 | -4.54 | 2.67 |
| Max drawdown (3Y) | -97.6% | -75.8% |
| Market cap | – | $2.0B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PRCH |
|---|---|---|
| 2022 | +52.2% | -87.9% |
| 2023 | -90.1% | +63.8% |
| 2024 | -76.6% | +59.7% |
| 2025 | -61.4% | +85.6% |
| 2026 | -49.5% | +91.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PRCH good diversifiers for each other?
Yes. With a correlation of -0.26, FNGD and PRCH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and PRCH?
As of 2026-08-27, the correlation of weekly returns between FNGD and PRCH is -0.26 over 3 years, -0.44 over 1 year and -0.30 over 5 years.
Is PRCH a good diversifier for FNGD?
Yes. With a correlation of -0.26, FNGD and PRCH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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.
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Related comparisons
Hubs: FNGD correlations · PRCH correlations
