FNGD vs TKR: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Timken Company (The) (TKR) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TKR?
Across a 3-year window, the weekly returns of FNGD and TKR correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.27). Stretching to 5 years gives -0.34, with an annualized covariance of -555.4 %².
Within FNGD's tracked universe of 1743 assets, TKR comes in at #640 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TKR ahead by 115.5 points (-55.7% versus +59.8%). Risk is not evenly split, since FNGD carries 2.8 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 TKR: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TKR (Timken Company (The)) | |
|---|---|---|
| 1-year return | -55.7% | +59.8% |
| 5-year return | -99.4% | +80.3% |
| Volatility (ann.) | 75.7% | 27.4% |
| Beta vs S&P 500 | -4.54 | 0.98 |
| Max drawdown (3Y) | -97.6% | -37.6% |
| Market cap | – | $8.6B |
| P/E (trailing) | 20.6 | 33.7 |
| Dividend yield | 0.00% | 1.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TKR |
|---|---|---|
| 2022 | +52.2% | +3.9% |
| 2023 | -90.1% | +15.4% |
| 2024 | -76.6% | -9.5% |
| 2025 | -61.4% | +20.0% |
| 2026 | -49.5% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TKR good diversifiers for each other?
Yes. With a correlation of -0.27, FNGD and TKR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FNGD and TKR?
As of 2026-08-27, the correlation of weekly returns between FNGD and TKR is -0.27 over 3 years, -0.04 over 1 year and -0.34 over 5 years.
Is TKR a good diversifier for FNGD?
Yes. With a correlation of -0.27, FNGD and TKR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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-tkr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-tkr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · TKR correlations
