FNGO vs ORCL: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index 2X Leveraged ETNs due January 8 (FNGO) and Oracle Corporation (ORCL) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGO and ORCL?
Across a 3-year window, the weekly returns of FNGO and ORCL correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 1428.5 %².
Among the 35 assets we track against FNGO, ORCL ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FNGO ahead by 68.5 points (+33.7% versus -34.8%).
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 ORCL: side by side
| FNGO (MicroSectors FANG Index 2X Leveraged ETNs due January 8) | ORCL (Oracle Corporation) | |
|---|---|---|
| 1-year return | +33.7% | -34.8% |
| 5-year return | +220.3% | +81.7% |
| Volatility (ann.) | 51.9% | 49.9% |
| Beta vs S&P 500 | 3.12 | 1.71 |
| Max drawdown (3Y) | -47.6% | -64.6% |
| Market cap | – | $437.7B |
| P/E (trailing) | 30.8 | 25.5 |
| Dividend yield | 0.00% | 1.34% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGO | ORCL |
|---|---|---|
| 2022 | -71.6% | -4.6% |
| 2023 | +240.1% | +30.9% |
| 2024 | +101.7% | +60.0% |
| 2025 | +25.5% | +18.1% |
| 2026 | +30.1% | -21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGO and ORCL good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FNGO and ORCL?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.61 over the last year and 0.51 over 5 years.
Is ORCL a good diversifier for FNGO?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/fngo-vs-orcl.json
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[](https://www.pairbook.io/pair/fngo-vs-orcl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNGO correlations · ORCL correlations
