FNGD vs TFC: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Truist Financial (TFC) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TFC?
Over the past 3 years, FNGD and TFC moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.03) runs above the 3-year figure (-0.25). Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -535.9 %².
Within FNGD's tracked universe of 1743 assets, TFC comes in at #465 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TFC outperformed by 67.8 percentage points (-55.7% for FNGD against +12.1% for TFC). Risk is not evenly split, since FNGD carries 2.7 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 TFC: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | -55.7% | +12.1% |
| 5-year return | -99.4% | +12.7% |
| Volatility (ann.) | 75.7% | 28.0% |
| Beta vs S&P 500 | -4.54 | 1.07 |
| Max drawdown (3Y) | -97.6% | -26.9% |
| Market cap | – | $61.4B |
| P/E (trailing) | 20.6 | 11.6 |
| Dividend yield | 0.00% | 4.10% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FNGD | TFC |
|---|---|---|
| 2022 | +52.2% | -23.5% |
| 2023 | -90.1% | -8.6% |
| 2024 | -76.6% | +23.7% |
| 2025 | -61.4% | +19.0% |
| 2026 | -49.5% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TFC good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and TFC?
As of 2026-08-27, the correlation of weekly returns between FNGD and TFC is -0.25 over 3 years, 0.03 over 1 year and -0.31 over 5 years.
Is TFC a good diversifier for FNGD?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TFC correlations
