FNGO vs JNJ: Correlation
How closely do MicroSectors FANG Index 2X Leveraged ETNs due January 8 (FNGO) and Johnson & Johnson (JNJ) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGO and JNJ?
Over the past 3 years, FNGO and JNJ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.25 over 3 years. Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -236.3 %².
By 3-year correlation, JNJ places #29 of the 35 assets tracked against FNGO. Correlation aside, the last 12 months split them widely, with JNJ ahead by 20.0 points (+33.7% versus +53.7%). Risk is not evenly split, since FNGO carries 2.8 times the volatility of the other side.
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.
FNGO vs JNJ: side by side
| FNGO (MicroSectors FANG Index 2X Leveraged ETNs due January 8) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | +33.7% | +53.7% |
| 5-year return | +220.3% | +76.0% |
| Volatility (ann.) | 51.9% | 18.5% |
| Beta vs S&P 500 | 3.12 | 0.05 |
| Max drawdown (3Y) | -47.6% | -14.4% |
| Market cap | – | $640.5B |
| P/E (trailing) | 30.8 | 30.9 |
| Dividend yield | 0.00% | 1.94% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FNGO | JNJ |
|---|---|---|
| 2022 | -71.6% | +6.0% |
| 2023 | +240.1% | -8.6% |
| 2024 | +101.7% | -4.8% |
| 2025 | +25.5% | +47.5% |
| 2026 | +30.1% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGO and JNJ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNGO and JNJ?
As of 2026-08-27, the correlation of weekly returns between FNGO and JNJ is -0.25 over 3 years, -0.53 over 1 year and -0.10 over 5 years.
Is JNJ a good diversifier for FNGO?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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/fngo-vs-jnj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngo-vs-jnj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGO correlations · JNJ correlations
