FNGD vs RBRK: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rubrik, Inc. (RBRK) trade together? Their weekly returns over three years give a correlation of -0.55, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RBRK?
On 3 years of weekly data the FNGD/RBRK correlation comes out at -0.55, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.48 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -2707.8 %².
Within FNGD's tracked universe of 1743 assets, RBRK comes in at #1648 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RBRK outperformed by 78.0 percentage points (-55.7% for FNGD against +22.3% for RBRK).
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 RBRK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RBRK (Rubrik, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +22.3% |
| 5-year return | -99.4% | n/a |
| Volatility (ann.) | 75.7% | 63.9% |
| Beta vs S&P 500 | -4.54 | 1.92 |
| Max drawdown (3Y) | -97.6% | -56.1% |
| Market cap | – | $22.0B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RBRK |
|---|---|---|
| 2022 | +52.2% | – |
| 2023 | -90.1% | – |
| 2024 | -76.6% | – |
| 2025 | -61.4% | +17.0% |
| 2026 | -49.5% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RBRK good diversifiers for each other?
Yes. With a correlation of -0.55, FNGD and RBRK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RBRK?
As of 2026-08-27, the correlation of weekly returns between FNGD and RBRK is -0.55 over 3 years, -0.48 over 1 year and n/a over 5 years.
Is RBRK a good diversifier for FNGD?
Yes. With a correlation of -0.55, FNGD and RBRK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 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-rbrk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rbrk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · RBRK correlations
