FNGD vs TBLA: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Taboola.com Ltd. (TBLA) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TBLA?
Over the past 3 years, FNGD and TBLA moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Over 5 years the correlation is -0.48, and the annualized covariance of weekly returns is -1283.4 %².
Among the 1743 assets we track against FNGD, TBLA ranks #1203 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TBLA ahead by 67.2 points (-55.7% versus +11.5%). One caveat on sizing: FNGD is 1.6 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 TBLA: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TBLA (Taboola.com Ltd.) | |
|---|---|---|
| 1-year return | -55.7% | +11.5% |
| 5-year return | -99.4% | -57.5% |
| Volatility (ann.) | 75.7% | 47.2% |
| Beta vs S&P 500 | -4.54 | 1.17 |
| Max drawdown (3Y) | -97.6% | -47.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | 20.6 | 9.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TBLA |
|---|---|---|
| 2022 | +52.2% | -60.4% |
| 2023 | -90.1% | +40.6% |
| 2024 | -76.6% | -15.7% |
| 2025 | -61.4% | +26.3% |
| 2026 | -49.5% | -18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TBLA good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TBLA?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.35 over the last year and -0.48 over 5 years.
Is TBLA a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 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 · TBLA correlations
