FNGD vs TITN: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Titan Machinery Inc. (TITN) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TITN?
On 3 years of weekly data the FNGD/TITN correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.21 over 3. The 5-year figure is -0.26, and annualized covariance runs at -763.4 %².
By 3-year correlation, TITN places #141 of the 1743 assets tracked against FNGD. Correlation aside, the last 12 months split them widely, with TITN ahead by 43.4 points (-55.7% versus -12.3%). Note the risk asymmetry: FNGD runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TITN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TITN (Titan Machinery Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -12.3% |
| 5-year return | -99.4% | -35.8% |
| Volatility (ann.) | 75.7% | 48.9% |
| Beta vs S&P 500 | -4.54 | 1.27 |
| Max drawdown (3Y) | -97.6% | -58.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TITN |
|---|---|---|
| 2022 | +52.2% | +17.9% |
| 2023 | -90.1% | -27.3% |
| 2024 | -76.6% | -51.1% |
| 2025 | -61.4% | +6.4% |
| 2026 | -49.5% | +22.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TITN good diversifiers for each other?
Yes. With a correlation of -0.21, FNGD and TITN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and TITN?
The FNGD/TITN correlation stands at -0.21 on a 3-year window (1 year: -0.17, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is TITN a good diversifier for FNGD?
Yes. With a correlation of -0.21, FNGD and TITN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-titn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-titn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TITN correlations
