FNGD vs SMHI: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and SEACOR Marine Holdings Inc. (SMHI) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SMHI?
Across a 3-year window, the weekly returns of FNGD and SMHI correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.25 over 3 years. Stretching to 5 years gives -0.20, with an annualized covariance of -1047.1 %².
By 3-year correlation, SMHI places #462 of the 1743 assets tracked against FNGD. The last year tells two different stories: SMHI led by 102.9 percentage points, -55.7% for FNGD against +47.2% for SMHI.
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 SMHI: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SMHI (SEACOR Marine Holdings Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +47.2% |
| 5-year return | -99.4% | +119.6% |
| Volatility (ann.) | 75.7% | 54.8% |
| Beta vs S&P 500 | -4.54 | 1.41 |
| Max drawdown (3Y) | -97.6% | -74.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | SMHI |
|---|---|---|
| 2022 | +52.2% | +169.4% |
| 2023 | -90.1% | +37.4% |
| 2024 | -76.6% | -47.9% |
| 2025 | -61.4% | -8.2% |
| 2026 | -49.5% | +58.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SMHI good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and SMHI?
The FNGD/SMHI correlation stands at -0.25 on a 3-year window (1 year: 0.03, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is SMHI a good diversifier for FNGD?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-smhi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-smhi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · SMHI correlations
