FNGD vs ROK: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rockwell Automation (ROK) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ROK?
Over the past 3 years, FNGD and ROK moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.34 over 3. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -721.8 %².
Within FNGD's tracked universe of 1743 assets, ROK comes in at #1104 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ROK ahead by 81.4 points (-55.7% versus +25.7%). One caveat on sizing: FNGD is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ROK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ROK (Rockwell Automation) | |
|---|---|---|
| 1-year return | -55.7% | +25.7% |
| 5-year return | -99.4% | +44.9% |
| Volatility (ann.) | 75.7% | 27.9% |
| Beta vs S&P 500 | -4.54 | 0.97 |
| Max drawdown (3Y) | -97.6% | -29.0% |
| Market cap | – | $48.2B |
| P/E (trailing) | 20.6 | 40.6 |
| Dividend yield | 0.00% | 1.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | ROK |
|---|---|---|
| 2022 | +52.2% | -24.8% |
| 2023 | -90.1% | +22.6% |
| 2024 | -76.6% | -6.2% |
| 2025 | -61.4% | +38.4% |
| 2026 | -49.5% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ROK good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and ROK?
As of 2026-08-27, the correlation of weekly returns between FNGD and ROK is -0.34 over 3 years, -0.30 over 1 year and -0.43 over 5 years.
Is ROK a good diversifier for FNGD?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 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-rok.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-rok/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · ROK correlations
