FNGD vs SABR: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Sabre Corporation (SABR) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SABR?
Across a 3-year window, the weekly returns of FNGD and SABR correlate at -0.37, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -2087.8 %².
Among the 1743 assets we track against FNGD, SABR ranks #1238 by 3-year correlation. The last year tells two different stories: SABR led by 76.6 percentage points, -55.7% for FNGD against +20.9% for SABR.
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 SABR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SABR (Sabre Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +20.9% |
| 5-year return | -99.4% | -80.2% |
| Volatility (ann.) | 75.7% | 75.5% |
| Beta vs S&P 500 | -4.54 | 2.20 |
| Max drawdown (3Y) | -97.6% | -84.8% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SABR |
|---|---|---|
| 2022 | +52.2% | -28.1% |
| 2023 | -90.1% | -28.8% |
| 2024 | -76.6% | -17.0% |
| 2025 | -61.4% | -62.7% |
| 2026 | -49.5% | +57.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SABR good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and SABR?
As of 2026-08-27, the correlation of weekly returns between FNGD and SABR is -0.37 over 3 years, -0.45 over 1 year and -0.36 over 5 years.
Is SABR a good diversifier for FNGD?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 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.
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Related comparisons
Hubs: FNGD correlations · SABR correlations
