FNGD vs RGP: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Resources Connection, Inc. (RGP) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RGP?
Over the past 3 years, FNGD and RGP moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.28 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -815.9 %².
By 3-year correlation, RGP places #723 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with RGP ahead by 45.6 points (-55.7% versus -10.1%). Risk is not evenly split, since FNGD carries 2.0 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 RGP: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RGP (Resources Connection, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -10.1% |
| 5-year return | -99.4% | -66.0% |
| Volatility (ann.) | 75.7% | 38.4% |
| Beta vs S&P 500 | -4.54 | 1.20 |
| Max drawdown (3Y) | -97.6% | -74.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 6.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RGP |
|---|---|---|
| 2022 | +52.2% | +6.3% |
| 2023 | -90.1% | -20.1% |
| 2024 | -76.6% | -36.5% |
| 2025 | -61.4% | -37.3% |
| 2026 | -49.5% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RGP good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and RGP?
As of 2026-08-27, the correlation of weekly returns between FNGD and RGP is -0.28 over 3 years, -0.21 over 1 year and -0.32 over 5 years.
Is RGP a good diversifier for FNGD?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FNGD correlations · RGP correlations
