FNGD vs PRM: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Perimeter Solutions, SA (PRM) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PRM?
Over the past 3 years, FNGD and PRM moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.33 over 3 years. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -1210.6 %².
Within FNGD's tracked universe of 1743 assets, PRM comes in at #1051 by 3-year correlation. The last year tells two different stories: PRM led by 102.6 percentage points, -55.7% for FNGD against +46.9% for PRM. 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 PRM: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PRM (Perimeter Solutions, SA) | |
|---|---|---|
| 1-year return | -55.7% | +46.9% |
| 5-year return | -99.4% | +166.9% |
| Volatility (ann.) | 75.7% | 49.1% |
| Beta vs S&P 500 | -4.54 | 1.44 |
| Max drawdown (3Y) | -97.6% | -51.3% |
| Market cap | – | $5.2B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | PRM |
|---|---|---|
| 2022 | +52.2% | -34.2% |
| 2023 | -90.1% | -49.7% |
| 2024 | -76.6% | +177.8% |
| 2025 | -61.4% | +115.4% |
| 2026 | -49.5% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PRM good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and PRM?
The FNGD/PRM correlation stands at -0.33 on a 3-year window (1 year: -0.45, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is PRM a good diversifier for FNGD?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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-prm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-prm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · PRM correlations
