FNGD vs UROY: Correlation
How closely do MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Uranium Royalty Corp. (UROY) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and UROY?
Over the past 3 years, FNGD and UROY moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.35 over 3. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -1574.8 %².
Among the 1743 assets we track against FNGD, UROY ranks #1163 by 3-year correlation. The last year tells two different stories: UROY led by 98.6 percentage points, -55.7% for FNGD against +42.9% for UROY.
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 UROY: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | UROY (Uranium Royalty Corp.) | |
|---|---|---|
| 1-year return | -55.7% | +42.9% |
| 5-year return | -99.4% | +56.3% |
| Volatility (ann.) | 75.7% | 59.9% |
| Beta vs S&P 500 | -4.54 | 1.40 |
| Max drawdown (3Y) | -97.6% | -59.7% |
| Market cap | – | $1.7B |
| P/E (trailing) | 20.6 | 14.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNGD | UROY |
|---|---|---|
| 2022 | +52.2% | -35.1% |
| 2023 | -90.1% | +13.9% |
| 2024 | -76.6% | -18.9% |
| 2025 | -61.4% | +61.6% |
| 2026 | -49.5% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and UROY good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and UROY?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.41 over the last year and -0.36 over 5 years.
Is UROY a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-uroy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fngd-vs-uroy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGD correlations · UROY correlations
