AFB vs DFDV: Correlation
AllianceBernstein National Municipal Income Fund Inc (AFB) and DeFi Development Corp. (DFDV) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFB and DFDV?
Over the past 3 years, AFB and DFDV moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.13) runs above the 3-year figure (-0.39). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3402.5 %².
Out of 24 assets tracked against AFB, DFDV lands near the bottom at #24. Correlation aside, the last 12 months split them widely, with AFB ahead by 75.9 points (+10.5% versus -65.4%). Risk is not evenly split, since DFDV carries 55.0 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.
AFB vs DFDV: side by side
| AFB (AllianceBernstein National Municipal Income Fund Inc) | DFDV (DeFi Development Corp.) | |
|---|---|---|
| 1-year return | +10.5% | -65.4% |
| 5-year return | -9.9% | n/a |
| Volatility (ann.) | 12.6% | 693.3% |
| Beta vs S&P 500 | 0.26 | 12.24 |
| Max drawdown (3Y) | -15.1% | -94.2% |
| Market cap | – | $0.2B |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 4.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFB | DFDV |
|---|---|---|
| 2022 | -25.9% | – |
| 2023 | +7.5% | – |
| 2024 | +4.1% | -41.1% |
| 2025 | +4.4% | +628.1% |
| 2026 | +4.6% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFB and DFDV good diversifiers for each other?
Yes. With a correlation of -0.39, AFB and DFDV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFB and DFDV?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with 0.13 over the last year and n/a over 5 years.
Is DFDV a good diversifier for AFB?
Yes. With a correlation of -0.39, AFB and DFDV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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/afb-vs-dfdv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/afb-vs-dfdv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFB correlations · DFDV correlations
