FNGD vs R: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Ryder System, Inc. (R) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and R?
On 3 years of weekly data the FNGD/R correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.07) than the 3-year average (-0.27). The 5-year figure is -0.26, and annualized covariance runs at -638.0 %².
By 3-year correlation, R places #623 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months R outperformed by 90.6 percentage points (-55.7% for FNGD against +34.9% for R). Risk is not evenly split, since FNGD carries 2.4 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 R: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | R (Ryder System, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +34.9% |
| 5-year return | -99.4% | +245.8% |
| Volatility (ann.) | 75.7% | 31.1% |
| Beta vs S&P 500 | -4.54 | 1.09 |
| Max drawdown (3Y) | -97.6% | -23.9% |
| Market cap | – | $9.5B |
| P/E (trailing) | 20.6 | 20.3 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | R |
|---|---|---|
| 2022 | +52.2% | +4.4% |
| 2023 | -90.1% | +41.6% |
| 2024 | -76.6% | +39.5% |
| 2025 | -61.4% | +24.5% |
| 2026 | -49.5% | +31.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and R good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and R?
As of 2026-08-27, the correlation of weekly returns between FNGD and R is -0.27 over 3 years, 0.07 over 1 year and -0.26 over 5 years.
Is R a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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-r.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-r/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · R correlations
