FNGD vs THFF: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and First Financial Corporation (THFF) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and THFF?
On 3 years of weekly data the FNGD/THFF correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.10 versus -0.18 over 3 years. The 5-year figure is -0.15, and annualized covariance runs at -383.6 %².
Among the 1743 assets we track against FNGD, THFF ranks #35 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months THFF outperformed by 94.5 percentage points (-55.7% for FNGD against +38.8% for THFF). 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 THFF: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +38.8% |
| 5-year return | -99.4% | +135.2% |
| Volatility (ann.) | 75.7% | 28.2% |
| Beta vs S&P 500 | -4.54 | 0.81 |
| Max drawdown (3Y) | -97.6% | -20.2% |
| Market cap | – | $0.9B |
| P/E (trailing) | 20.6 | 11.1 |
| Dividend yield | 0.00% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | THFF |
|---|---|---|
| 2022 | +52.2% | +4.4% |
| 2023 | -90.1% | -2.6% |
| 2024 | -76.6% | +11.1% |
| 2025 | -61.4% | +36.2% |
| 2026 | -49.5% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and THFF good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and THFF?
The FNGD/THFF correlation stands at -0.18 on a 3-year window (1 year: 0.10, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is THFF a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-thff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-thff/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · THFF correlations
