FNGD vs STRR: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Star Equity Holdings, Inc. (STRR) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and STRR?
On 3 years of weekly data the FNGD/STRR correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.25 over 3. The 5-year figure is -0.15, and annualized covariance runs at -657.9 %².
Among the 1743 assets we track against FNGD, STRR ranks #464 by 3-year correlation. The last year tells two different stories: STRR led by 63.3 percentage points, -55.7% for FNGD against +7.6% for STRR. One caveat on sizing: FNGD is 2.2 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 STRR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | STRR (Star Equity Holdings, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +7.6% |
| 5-year return | -99.4% | -38.9% |
| Volatility (ann.) | 75.7% | 35.1% |
| Beta vs S&P 500 | -4.54 | 0.69 |
| Max drawdown (3Y) | -97.6% | -62.9% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | STRR |
|---|---|---|
| 2022 | +52.2% | -22.0% |
| 2023 | -90.1% | -31.6% |
| 2024 | -76.6% | -15.8% |
| 2025 | -61.4% | -13.8% |
| 2026 | -49.5% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and STRR good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and STRR?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.22 over the last year and -0.15 over 5 years.
Is STRR a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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 · STRR correlations
