FNGD vs SWK: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Stanley Black & Decker (SWK) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and SWK?
Across a 3-year window, the weekly returns of FNGD and SWK correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.12) sits close to the 3-year figure. Stretching to 5 years gives -0.33, with an annualized covariance of -555.5 %².
Among the 1743 assets we track against FNGD, SWK ranks #138 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SWK outperformed by 92.7 percentage points (-55.7% for FNGD against +37.0% for SWK). One caveat on sizing: FNGD is 2.1 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 SWK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | -55.7% | +37.0% |
| 5-year return | -99.4% | -39.1% |
| Volatility (ann.) | 75.7% | 35.4% |
| Beta vs S&P 500 | -4.54 | 1.19 |
| Max drawdown (3Y) | -97.6% | -48.3% |
| Market cap | – | $15.0B |
| P/E (trailing) | 20.6 | 24.4 |
| Dividend yield | 0.00% | 3.33% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | SWK |
|---|---|---|
| 2022 | +52.2% | -58.9% |
| 2023 | -90.1% | +35.6% |
| 2024 | -76.6% | -15.2% |
| 2025 | -61.4% | -3.2% |
| 2026 | -49.5% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and SWK good diversifiers for each other?
Yes. With a correlation of -0.21, FNGD and SWK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and SWK?
The FNGD/SWK correlation stands at -0.21 on a 3-year window (1 year: -0.12, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is SWK a good diversifier for FNGD?
Yes. With a correlation of -0.21, FNGD and SWK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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
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Related comparisons
Hubs: FNGD correlations · SWK correlations
