FNGD vs SFNC: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Simmons First National Corporation (SFNC) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SFNC?
On 3 years of weekly data the FNGD/SFNC correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.06 versus -0.18 over 3 years. The 5-year figure is -0.21, and annualized covariance runs at -404.6 %².
Within FNGD's tracked universe of 1743 assets, SFNC comes in at #34 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SFNC ahead by 69.2 points (-55.7% versus +13.5%). Risk is not evenly split, since FNGD carries 2.6 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 SFNC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SFNC (Simmons First National Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +13.5% |
| 5-year return | -99.4% | -3.8% |
| Volatility (ann.) | 75.7% | 28.9% |
| Beta vs S&P 500 | -4.54 | 0.88 |
| Max drawdown (3Y) | -97.6% | -30.5% |
| Market cap | – | $3.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 3.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SFNC |
|---|---|---|
| 2022 | +52.2% | -24.6% |
| 2023 | -90.1% | -4.0% |
| 2024 | -76.6% | +16.7% |
| 2025 | -61.4% | -11.3% |
| 2026 | -49.5% | +22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SFNC good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and SFNC?
As of 2026-08-27, the correlation of weekly returns between FNGD and SFNC is -0.18 over 3 years, 0.06 over 1 year and -0.21 over 5 years.
Is SFNC a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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 · SFNC correlations
