FNGO vs PLTR: Correlation
MicroSectors FANG Index 2X Leveraged ETNs due January 8 (FNGO) and Palantir Technologies (PLTR) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGO and PLTR?
Across a 3-year window, the weekly returns of FNGO and PLTR correlate at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 2106.1 %².
By 3-year correlation, PLTR places #17 of the 35 assets tracked against FNGO. Their recent paths diverged sharply: over the last 12 months FNGO outperformed by 15.1 percentage points (+33.7% for FNGO against +18.6% for PLTR).
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 PLTR: side by side
| FNGO (MicroSectors FANG Index 2X Leveraged ETNs due January 8) | PLTR (Palantir Technologies) | |
|---|---|---|
| 1-year return | +33.7% | +18.6% |
| 5-year return | +220.3% | +621.8% |
| Volatility (ann.) | 51.9% | 71.3% |
| Beta vs S&P 500 | 3.12 | 2.47 |
| Max drawdown (3Y) | -47.6% | -48.2% |
| Market cap | – | $446.8B |
| P/E (trailing) | 30.8 | 151.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGO | PLTR |
|---|---|---|
| 2022 | -71.6% | -64.7% |
| 2023 | +240.1% | +167.4% |
| 2024 | +101.7% | +340.5% |
| 2025 | +25.5% | +135.0% |
| 2026 | +30.1% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGO and PLTR good diversifiers for each other?
To a limited degree. At 0.57 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 PLTR?
The FNGO/PLTR correlation stands at 0.57 on a 3-year window (1 year: 0.64, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is PLTR a good diversifier for FNGO?
To a limited degree. At 0.57 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 0.57 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.
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Related comparisons
Hubs: FNGO correlations · PLTR correlations
