FNGD vs PRI: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Primerica, Inc. (PRI) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PRI?
Over the past 3 years, FNGD and PRI moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.29). Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -485.2 %².
Within FNGD's tracked universe of 1743 assets, PRI comes in at #793 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PRI ahead by 65.6 points (-55.7% versus +9.9%). Risk is not evenly split, since FNGD carries 3.5 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 PRI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PRI (Primerica, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +9.9% |
| 5-year return | -99.4% | +105.4% |
| Volatility (ann.) | 75.7% | 21.7% |
| Beta vs S&P 500 | -4.54 | 0.77 |
| Max drawdown (3Y) | -97.6% | -19.6% |
| Market cap | – | $9.0B |
| P/E (trailing) | 20.6 | 11.7 |
| Dividend yield | 0.00% | 1.54% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PRI |
|---|---|---|
| 2022 | +52.2% | -5.9% |
| 2023 | -90.1% | +47.1% |
| 2024 | -76.6% | +33.6% |
| 2025 | -61.4% | -3.3% |
| 2026 | -49.5% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PRI good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PRI?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.16 over the last year and -0.34 over 5 years.
Is PRI a good diversifier for FNGD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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-pri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-pri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · PRI correlations
