FNGD vs RGT: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Royce Global Trust, Inc. (RGT) show a negative relationship: their 3-year correlation of weekly returns is -0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RGT?
Across a 3-year window, the weekly returns of FNGD and RGT correlate at -0.61, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.61 lands near the 3-year figure. Stretching to 5 years gives -0.62, with an annualized covariance of -780.4 %².
Among the 1743 assets we track against FNGD, RGT ranks #1678 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RGT ahead by 79.8 points (-55.7% versus +24.1%). Risk is not evenly split, since FNGD carries 4.5 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 RGT: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RGT (Royce Global Trust, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +24.1% |
| 5-year return | -99.4% | +25.5% |
| Volatility (ann.) | 75.7% | 17.0% |
| Beta vs S&P 500 | -4.54 | 0.91 |
| Max drawdown (3Y) | -97.6% | -19.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | 5.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | RGT |
|---|---|---|
| 2022 | +52.2% | -33.1% |
| 2023 | -90.1% | +14.6% |
| 2024 | -76.6% | +14.4% |
| 2025 | -61.4% | +24.1% |
| 2026 | -49.5% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RGT good diversifiers for each other?
By historical standards, yes. A correlation of -0.61 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and RGT?
Using weekly returns as of 2026-08-27: -0.61 over 3 years, with -0.61 over the last year and -0.62 over 5 years.
Is RGT a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.61 means the two rarely move for the same reasons.
What does a correlation of -0.61 mean?
On the −1 to +1 scale, -0.61 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 · RGT correlations
