MicroSectors FANG+ Index 2X Leveraged ETNs due January 8, 2038
What is FNGO?
The return on the MicroSectors FANG+ Index 2X Leveraged ETNs (ETNs) are linked to a two times leveraged participation in the performance of the Index, compounded daily, minus the applicable fees. The ETNs provide levered exposure to the NYSE FANG+ Index. The NYSE FANG+ Index, an equal-dollar weighted index, was created by NYSE in 2017 to provide exposure to a group of highly-traded growth stocks of next generation technology and tech-enabled companies. This includes the five core FANG stocks--Facebook, Apple, Amazon, Netflix and Alphabet s Google plus another five actively-traded technology growth stocks Alibaba, Baidu, NVIDIA, Tesla and Twitter. MicroSectors provide concentrated exposure to 10 stocks in a given sub-sector, or microsector .
ETFs related toFNGO
ETFs correlated to FNGO include FNGU, FNGS, BULZ
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.