FNGD vs ROL: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Rollins, Inc. (ROL) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and ROL?
Across a 3-year window, the weekly returns of FNGD and ROL correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.27, with an annualized covariance of -378.6 %².
Within FNGD's tracked universe of 1743 assets, ROL comes in at #195 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ROL outperformed by 20.0 percentage points (-55.7% for FNGD against -35.7% for ROL). One caveat on sizing: FNGD is 3.3 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 ROL: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | ROL (Rollins, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -35.7% |
| 5-year return | -99.4% | -1.8% |
| Volatility (ann.) | 75.7% | 23.2% |
| Beta vs S&P 500 | -4.54 | 0.51 |
| Max drawdown (3Y) | -97.6% | -44.6% |
| Market cap | – | $17.3B |
| P/E (trailing) | 20.6 | 32.7 |
| Dividend yield | 0.00% | 1.94% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | ROL |
|---|---|---|
| 2022 | +52.2% | +8.1% |
| 2023 | -90.1% | +21.2% |
| 2024 | -76.6% | +7.6% |
| 2025 | -61.4% | +31.1% |
| 2026 | -49.5% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and ROL good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and ROL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.06 over the last year and -0.27 over 5 years.
Is ROL a good diversifier for FNGD?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-rol.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-rol/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · ROL correlations
