FNGD vs RMD: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ResMed (RMD) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and RMD?
Across a 3-year window, the weekly returns of FNGD and RMD correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.10) runs above the 3-year figure (-0.24). Stretching to 5 years gives -0.36, with an annualized covariance of -559.0 %².
By 3-year correlation, RMD places #363 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with RMD ahead by 40.2 points (-55.7% versus -15.5%). Note the risk asymmetry: FNGD runs 2.4 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 RMD: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | RMD (ResMed) | |
|---|---|---|
| 1-year return | -55.7% | -15.5% |
| 5-year return | -99.4% | -14.6% |
| Volatility (ann.) | 75.7% | 31.2% |
| Beta vs S&P 500 | -4.54 | 0.79 |
| Max drawdown (3Y) | -97.6% | -37.3% |
| Market cap | – | $34.0B |
| P/E (trailing) | 20.6 | 22.6 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FNGD | RMD |
|---|---|---|
| 2022 | +52.2% | -19.5% |
| 2023 | -90.1% | -16.5% |
| 2024 | -76.6% | +34.2% |
| 2025 | -61.4% | +6.3% |
| 2026 | -49.5% | -1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and RMD good diversifiers for each other?
Yes. With a correlation of -0.24, FNGD and RMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and RMD?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with 0.10 over the last year and -0.36 over 5 years.
Is RMD a good diversifier for FNGD?
Yes. With a correlation of -0.24, FNGD and RMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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-rmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rmd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · RMD correlations
