FNGD vs TRAK: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and ReposiTrak, Inc. (TRAK) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TRAK?
Across a 3-year window, the weekly returns of FNGD and TRAK correlate at -0.44, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.39) sits close to the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -1393.6 %².
Within FNGD's tracked universe of 1743 assets, TRAK comes in at #1486 by 3-year correlation. The trailing year gives TRAK the advantage: -55.7% versus -50.5%, a 5.2-point spread. Note the risk asymmetry: FNGD runs 1.8 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 TRAK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TRAK (ReposiTrak, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | -50.5% |
| 5-year return | -99.4% | +52.8% |
| Volatility (ann.) | 75.7% | 42.1% |
| Beta vs S&P 500 | -4.54 | 1.30 |
| Max drawdown (3Y) | -97.6% | -71.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | 21.5 |
| Dividend yield | 0.00% | 0.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TRAK |
|---|---|---|
| 2022 | +52.2% | -14.4% |
| 2023 | -90.1% | +104.2% |
| 2024 | -76.6% | +122.0% |
| 2025 | -61.4% | -43.8% |
| 2026 | -49.5% | -35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TRAK good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TRAK?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.39 over the last year and -0.28 over 5 years.
Is TRAK a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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-trak.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-trak/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · TRAK correlations
