FNGD vs TRMK: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Trustmark Corporation (TRMK) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and TRMK?
Across a 3-year window, the weekly returns of FNGD and TRMK correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.12) runs above the 3-year figure (-0.23). Stretching to 5 years gives -0.18, with an annualized covariance of -464.4 %².
By 3-year correlation, TRMK places #291 of the 1743 assets tracked against FNGD. The last year tells two different stories: TRMK led by 72.2 percentage points, -55.7% for FNGD against +16.5% for TRMK. Note the risk asymmetry: FNGD runs 2.8 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 TRMK: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | TRMK (Trustmark Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +16.5% |
| 5-year return | -99.4% | +69.7% |
| Volatility (ann.) | 75.7% | 27.0% |
| Beta vs S&P 500 | -4.54 | 0.91 |
| Max drawdown (3Y) | -97.6% | -22.0% |
| Market cap | – | $2.7B |
| P/E (trailing) | 20.6 | 11.8 |
| Dividend yield | 0.00% | 2.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | TRMK |
|---|---|---|
| 2022 | +52.2% | +10.7% |
| 2023 | -90.1% | -17.0% |
| 2024 | -76.6% | +30.6% |
| 2025 | -61.4% | +13.0% |
| 2026 | -49.5% | +20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and TRMK good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and TRMK?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.12 over the last year and -0.18 over 5 years.
Is TRMK a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-trmk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-trmk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · TRMK correlations
