FNGD vs URBN: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Urban Outfitters, Inc. (URBN) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and URBN?
On 3 years of weekly data the FNGD/URBN correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. The 5-year figure is -0.38, and annualized covariance runs at -910.6 %².
Among the 1743 assets we track against FNGD, URBN ranks #805 by 3-year correlation. Correlation aside, the last 12 months split them widely, with URBN ahead by 56.7 points (-55.7% versus +1.0%). 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 URBN: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | URBN (Urban Outfitters, Inc.) | |
|---|---|---|
| 1-year return | -55.7% | +1.0% |
| 5-year return | -99.4% | +132.0% |
| Volatility (ann.) | 75.7% | 41.9% |
| Beta vs S&P 500 | -4.54 | 1.09 |
| Max drawdown (3Y) | -97.6% | -28.5% |
| Market cap | – | $6.7B |
| P/E (trailing) | 20.6 | 15.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | URBN |
|---|---|---|
| 2022 | +52.2% | -18.8% |
| 2023 | -90.1% | +49.6% |
| 2024 | -76.6% | +53.8% |
| 2025 | -61.4% | +37.1% |
| 2026 | -49.5% | +4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and URBN good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and URBN?
As of 2026-08-27, the correlation of weekly returns between FNGD and URBN is -0.29 over 3 years, -0.32 over 1 year and -0.38 over 5 years.
Is URBN a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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-urbn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-urbn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGD correlations · URBN correlations
