ATER vs DFNS: Correlation
Aterian, Inc. (ATER) and T3 Defense Inc. (DFNS) show a negative relationship: their 3-year correlation of weekly returns is -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATER and DFNS?
Over the past 3 years, ATER and DFNS moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.63 versus -0.43 over 3 years. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -239838.3 %².
DFNS is close to the least connected end of ATER's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months DFNS outperformed by 254.7 percentage points (-61.2% for ATER against +193.5% for DFNS). Note the risk asymmetry: DFNS runs 67.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ATER vs DFNS: side by side
| ATER (Aterian, Inc.) | DFNS (T3 Defense Inc.) | |
|---|---|---|
| 1-year return | -61.2% | +193.5% |
| 5-year return | -99.5% | -77.9% |
| Volatility (ann.) | 90.5% | 6136.1% |
| Beta vs S&P 500 | 1.58 | -23.33 |
| Max drawdown (3Y) | -94.0% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATER | DFNS |
|---|---|---|
| 2022 | -81.3% | +5.0% |
| 2023 | -54.7% | -62.5% |
| 2024 | -42.7% | +59.9% |
| 2025 | -71.0% | -89.0% |
| 2026 | -43.6% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATER and DFNS good diversifiers for each other?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ATER and DFNS?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.63 over the last year and -0.28 over 5 years.
Is DFNS a good diversifier for ATER?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.43 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/ater-vs-dfns.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ater-vs-dfns/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATER correlations · DFNS correlations
