FNGD vs UMBF: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and UMB Financial Corporation (UMBF) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and UMBF?
Across a 3-year window, the weekly returns of FNGD and UMBF correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.26). Stretching to 5 years gives -0.26, with an annualized covariance of -554.5 %².
By 3-year correlation, UMBF places #548 of the 1743 assets tracked against FNGD. Their recent paths diverged sharply: over the last 12 months UMBF outperformed by 74.9 percentage points (-55.7% for FNGD against +19.2% for UMBF). Note the risk asymmetry: FNGD runs 2.7 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 UMBF: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | UMBF (UMB Financial Corporation) | |
|---|---|---|
| 1-year return | -55.7% | +19.2% |
| 5-year return | -99.4% | +73.4% |
| Volatility (ann.) | 75.7% | 28.4% |
| Beta vs S&P 500 | -4.54 | 1.01 |
| Max drawdown (3Y) | -97.6% | -31.8% |
| Market cap | – | $11.0B |
| P/E (trailing) | 20.6 | 11.9 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | UMBF |
|---|---|---|
| 2022 | +52.2% | -20.0% |
| 2023 | -90.1% | +2.2% |
| 2024 | -76.6% | +37.3% |
| 2025 | -61.4% | +3.4% |
| 2026 | -49.5% | +26.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and UMBF good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and UMBF?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.04 over the last year and -0.26 over 5 years.
Is UMBF a good diversifier for FNGD?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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-umbf.json
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Related comparisons
Hubs: FNGD correlations · UMBF correlations
