FNGD vs RBB: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and RBB Bancorp (RBB) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RBB?
Over the past 3 years, FNGD and RBB moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.19 over 3 years. Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -459.9 %².
Among the 1743 assets we track against FNGD, RBB ranks #64 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RBB outperformed by 87.5 percentage points (-55.7% for FNGD against +31.8% for RBB). Note the risk asymmetry: FNGD runs 2.3 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 RBB: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RBB (RBB Bancorp) | |
|---|---|---|
| 1-year return | -55.7% | +31.8% |
| 5-year return | -99.4% | +22.2% |
| Volatility (ann.) | 75.7% | 32.4% |
| Beta vs S&P 500 | -4.54 | 0.96 |
| Max drawdown (3Y) | -97.6% | -39.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 10.8 |
| Dividend yield | 0.00% | 2.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RBB |
|---|---|---|
| 2022 | +52.2% | -18.5% |
| 2023 | -90.1% | -4.4% |
| 2024 | -76.6% | +11.0% |
| 2025 | -61.4% | +4.4% |
| 2026 | -49.5% | +29.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RBB good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and RBB?
As of 2026-08-27, the correlation of weekly returns between FNGD and RBB is -0.19 over 3 years, -0.02 over 1 year and -0.21 over 5 years.
Is RBB a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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 · RBB correlations
