AXP vs DFNS: Correlation
American Express (AXP) and T3 Defense Inc. (DFNS) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and DFNS?
Across a 3-year window, the weekly returns of AXP and DFNS correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.19). Stretching to 5 years gives -0.13, with an annualized covariance of -30797.7 %².
Among the 35 assets we track against AXP, DFNS ranks #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DFNS ahead by 188.8 points (+4.7% versus +193.5%). One caveat on sizing: DFNS is 230.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AXP vs DFNS: side by side
| AXP (American Express) | DFNS (T3 Defense Inc.) | |
|---|---|---|
| 1-year return | +4.7% | +193.5% |
| 5-year return | +116.2% | -77.9% |
| Volatility (ann.) | 26.6% | 6136.1% |
| Beta vs S&P 500 | 1.20 | -23.33 |
| Max drawdown (3Y) | -28.8% | -99.9% |
| Market cap | $225.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AXP | DFNS |
|---|---|---|
| 2022 | -8.5% | +5.0% |
| 2023 | +28.7% | -62.5% |
| 2024 | +60.3% | +59.9% |
| 2025 | +26.0% | -89.0% |
| 2026 | -8.9% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXP and DFNS good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXP and DFNS?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.32 over the last year and -0.13 over 5 years.
Is DFNS a good diversifier for AXP?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
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Related comparisons
Hubs: AXP correlations · DFNS correlations
