FNGD vs ROG: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rogers Corporation (ROG) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ROG?
On 3 years of weekly data the FNGD/ROG correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.18 versus -0.30 over 3 years. The 5-year figure is -0.29, and annualized covariance runs at -790.9 %².
Among the 1743 assets we track against FNGD, ROG ranks #860 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ROG outperformed by 118.5 percentage points (-55.7% for FNGD against +62.8% for ROG). Risk is not evenly split, since FNGD carries 2.2 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 ROG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ROG (Rogers Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +62.8% |
| 5-year return | -99.4% | -39.5% |
| Volatility (ann.) | 75.7% | 34.4% |
| Beta vs S&P 500 | -4.54 | 1.02 |
| Max drawdown (3Y) | -97.6% | -64.0% |
| Market cap | – | $2.3B |
| P/E (trailing) | 20.6 | 74.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ROG |
|---|---|---|
| 2022 | +52.2% | -56.3% |
| 2023 | -90.1% | +10.7% |
| 2024 | -76.6% | -23.1% |
| 2025 | -61.4% | -9.9% |
| 2026 | -49.5% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ROG good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and ROG?
As of 2026-08-27, the correlation of weekly returns between FNGD and ROG is -0.30 over 3 years, -0.18 over 1 year and -0.29 over 5 years.
Is ROG a good diversifier for FNGD?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-rog.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-rog/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · ROG correlations
