API vs DXYZ: Correlation
Agora, Inc. (API) and Destiny Tech100 Inc. (DXYZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are API and DXYZ?
On 3 years of weekly data the API/DXYZ correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.46). The 5-year figure is n/a, and annualized covariance runs at 9655.1 %².
DXYZ is one of the assets that tracks API most closely: it ranks #3 out of the 14 assets we track against API. The trailing year gives DXYZ the advantage: +15.7% versus +24.9%, a 9.2-point spread. Risk is not evenly split, since DXYZ carries 2.1 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.
API vs DXYZ: side by side
| API (Agora, Inc.) | DXYZ (Destiny Tech100 Inc.) | |
|---|---|---|
| 1-year return | +15.7% | +24.9% |
| 5-year return | -86.7% | n/a |
| Volatility (ann.) | 96.1% | 201.3% |
| Beta vs S&P 500 | 1.90 | 3.94 |
| Max drawdown (3Y) | -60.8% | -90.3% |
| Market cap | $0.3B | $1.1B |
| P/E (trailing) | 45.1 | 9.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | API | DXYZ |
|---|---|---|
| 2022 | -75.9% | – |
| 2023 | -32.7% | – |
| 2024 | +58.2% | – |
| 2025 | -2.2% | -48.0% |
| 2026 | -0.2% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are API and DXYZ good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between API and DXYZ?
As of 2026-08-27, the correlation of weekly returns between API and DXYZ is 0.46 over 3 years, 0.18 over 1 year and n/a over 5 years.
Is DXYZ a good diversifier for API?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/api-vs-dxyz.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: API correlations · DXYZ correlations
