FNGD vs PRU: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Prudential Financial (PRU) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and PRU?
Across a 3-year window, the weekly returns of FNGD and PRU correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.23 over 3 years. Stretching to 5 years gives -0.34, with an annualized covariance of -400.6 %².
Among the 1743 assets we track against FNGD, PRU ranks #277 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PRU ahead by 71.5 points (-55.7% versus +15.8%). One caveat on sizing: FNGD is 3.3 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 PRU: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | PRU (Prudential Financial) | |
|---|---|---|
| 1-year return | -55.7% | +15.8% |
| 5-year return | -99.4% | +45.1% |
| Volatility (ann.) | 75.7% | 23.0% |
| Beta vs S&P 500 | -4.54 | 0.79 |
| Max drawdown (3Y) | -97.6% | -25.7% |
| Market cap | – | $41.5B |
| P/E (trailing) | 20.6 | 10.9 |
| Dividend yield | 0.00% | 4.57% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FNGD | PRU |
|---|---|---|
| 2022 | +52.2% | -3.9% |
| 2023 | -90.1% | +10.1% |
| 2024 | -76.6% | +19.5% |
| 2025 | -61.4% | +0.2% |
| 2026 | -49.5% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and PRU good diversifiers for each other?
Yes. With a correlation of -0.23, FNGD and PRU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and PRU?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.06 over the last year and -0.34 over 5 years.
Is PRU a good diversifier for FNGD?
Yes. With a correlation of -0.23, FNGD and PRU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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
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Related comparisons
Hubs: FNGD correlations · PRU correlations
