FNGD vs TDG: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and TransDigm Group (TDG) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TDG?
Over the past 3 years, FNGD and TDG moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.36 versus -0.47 over 3 years. Over 5 years the correlation is -0.49, and the annualized covariance of weekly returns is -907.9 %².
Within FNGD's tracked universe of 1743 assets, TDG comes in at #1543 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TDG outperformed by 46.6 percentage points (-55.7% for FNGD against -9.1% for TDG). Risk is not evenly split, since FNGD carries 3.0 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 TDG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TDG (TransDigm Group) | |
|---|---|---|
| 1-year return | -55.7% | -9.1% |
| 5-year return | -99.4% | +136.5% |
| Volatility (ann.) | 75.7% | 25.5% |
| Beta vs S&P 500 | -4.54 | 0.91 |
| Max drawdown (3Y) | -97.6% | -25.3% |
| Market cap | – | $65.6B |
| P/E (trailing) | 20.6 | 36.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNGD | TDG |
|---|---|---|
| 2022 | +52.2% | +1.8% |
| 2023 | -90.1% | +66.6% |
| 2024 | -76.6% | +32.3% |
| 2025 | -61.4% | +12.2% |
| 2026 | -49.5% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TDG good diversifiers for each other?
Yes. With a correlation of -0.47, FNGD and TDG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and TDG?
As of 2026-08-27, the correlation of weekly returns between FNGD and TDG is -0.47 over 3 years, -0.36 over 1 year and -0.49 over 5 years.
Is TDG a good diversifier for FNGD?
Yes. With a correlation of -0.47, FNGD and TDG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.47 mean?
A reading of -0.47 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-tdg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-tdg/)
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Related comparisons
Hubs: FNGD correlations · TDG correlations
