FNGD vs RBBN: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Ribbon Communications Inc. (RBBN) show a negative relationship: their 3-year correlation of weekly returns is -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RBBN?
Over the past 3 years, FNGD and RBBN moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.54) runs below the 3-year figure (-0.44). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -1693.3 %².
Among the 1743 assets we track against FNGD, RBBN ranks #1485 by 3-year correlation. The trailing year gives RBBN the advantage: -55.7% versus -49.9%, a 5.8-point spread.
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 RBBN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RBBN (Ribbon Communications Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -49.9% |
| 5-year return | -99.4% | -69.7% |
| Volatility (ann.) | 75.7% | 50.8% |
| Beta vs S&P 500 | -4.54 | 1.67 |
| Max drawdown (3Y) | -97.6% | -62.1% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | 25.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RBBN |
|---|---|---|
| 2022 | +52.2% | -53.9% |
| 2023 | -90.1% | +3.9% |
| 2024 | -76.6% | +43.4% |
| 2025 | -61.4% | -30.8% |
| 2026 | -49.5% | -30.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RBBN good diversifiers for each other?
Yes. With a correlation of -0.44, FNGD and RBBN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RBBN?
As of 2026-08-27, the correlation of weekly returns between FNGD and RBBN is -0.44 over 3 years, -0.54 over 1 year and -0.38 over 5 years.
Is RBBN a good diversifier for FNGD?
Yes. With a correlation of -0.44, FNGD and RBBN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-rbbn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rbbn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · RBBN correlations
