FNGD vs ROKU: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Roku, Inc. (ROKU) show a negative relationship: their 3-year correlation of weekly returns is -0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ROKU?
Across a 3-year window, the weekly returns of FNGD and ROKU correlate at -0.51, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.50 lands near the 3-year figure. Stretching to 5 years gives -0.55, with an annualized covariance of -2335.6 %².
Among the 1743 assets we track against FNGD, ROKU ranks #1607 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ROKU ahead by 118.2 points (-55.7% versus +62.5%).
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 ROKU: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ROKU (Roku, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +62.5% |
| 5-year return | -99.4% | -56.1% |
| Volatility (ann.) | 75.7% | 59.9% |
| Beta vs S&P 500 | -4.54 | 2.49 |
| Max drawdown (3Y) | -97.6% | -51.7% |
| Market cap | – | $23.2B |
| P/E (trailing) | 20.6 | 67.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | ROKU |
|---|---|---|
| 2022 | +52.2% | -82.2% |
| 2023 | -90.1% | +125.2% |
| 2024 | -76.6% | -18.9% |
| 2025 | -61.4% | +45.9% |
| 2026 | -49.5% | +44.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ROKU good diversifiers for each other?
Yes: at -0.51, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and ROKU?
As of 2026-08-27, the correlation of weekly returns between FNGD and ROKU is -0.51 over 3 years, -0.50 over 1 year and -0.55 over 5 years.
Is ROKU a good diversifier for FNGD?
Yes: at -0.51, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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 · ROKU correlations
