FNGD vs URG: Correlation
MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Ur Energy Inc (URG) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and URG?
On 3 years of weekly data the FNGD/URG correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -1330.0 %².
Among the 1743 assets we track against FNGD, URG ranks #872 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months URG outperformed by 68.2 percentage points (-55.7% for FNGD against +12.5% for URG).
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 URG: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | URG (Ur Energy Inc) | |
|---|---|---|
| 1-year return | -55.7% | +12.5% |
| 5-year return | -99.4% | +26.4% |
| Volatility (ann.) | 75.7% | 59.1% |
| Beta vs S&P 500 | -4.54 | 1.21 |
| Max drawdown (3Y) | -97.6% | -72.1% |
| Market cap | – | $0.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | URG |
|---|---|---|
| 2022 | +52.2% | -5.7% |
| 2023 | -90.1% | +33.9% |
| 2024 | -76.6% | -25.3% |
| 2025 | -61.4% | +20.9% |
| 2026 | -49.5% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and URG good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGD and URG?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.28 over the last year and -0.31 over 5 years.
Is URG a good diversifier for FNGD?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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-urg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fngd-vs-urg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · URG correlations
