FNGD vs TECK: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Teck Resources Ltd (TECK) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TECK?
On 3 years of weekly data the FNGD/TECK correlation comes out at -0.42, 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. The 5-year figure is -0.32, and annualized covariance runs at -1293.4 %².
By 3-year correlation, TECK places #1430 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months TECK outperformed by 171.1 percentage points (-55.7% for FNGD against +115.4% for TECK). One caveat on sizing: FNGD is 1.9 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 TECK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TECK (Teck Resources Ltd) | |
|---|---|---|
| 1-year return | -55.7% | +115.4% |
| 5-year return | -99.4% | +233.4% |
| Volatility (ann.) | 75.7% | 40.4% |
| Beta vs S&P 500 | -4.54 | 1.47 |
| Max drawdown (3Y) | -97.6% | -46.1% |
| Market cap | – | $34.6B |
| P/E (trailing) | 20.6 | 19.3 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TECK |
|---|---|---|
| 2022 | +52.2% | +33.8% |
| 2023 | -90.1% | +14.0% |
| 2024 | -76.6% | -2.6% |
| 2025 | -61.4% | +19.0% |
| 2026 | -49.5% | +47.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TECK good diversifiers for each other?
Yes. With a correlation of -0.42, FNGD and TECK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and TECK?
The FNGD/TECK correlation stands at -0.42 on a 3-year window (1 year: -0.35, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is TECK a good diversifier for FNGD?
Yes. With a correlation of -0.42, FNGD and TECK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-teck.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-teck/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · TECK correlations
