BCML vs DFNS: Correlation
Measured on weekly returns over the past three years, BayCom Corp (BCML) and T3 Defense Inc. (DFNS) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCML and DFNS?
Across a 3-year window, the weekly returns of BCML and DFNS correlate at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.21). Stretching to 5 years gives -0.16, with an annualized covariance of -32340.0 %².
DFNS is close to the least connected end of BCML's tracked universe, ranking #12 of 14. Their recent paths diverged sharply: over the last 12 months DFNS outperformed by 191.4 percentage points (+2.1% for BCML against +193.5% for DFNS). Note the risk asymmetry: DFNS runs 248.4 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.
BCML vs DFNS: side by side
| BCML (BayCom Corp) | DFNS (T3 Defense Inc.) | |
|---|---|---|
| 1-year return | +2.1% | +193.5% |
| 5-year return | +92.9% | -77.9% |
| Volatility (ann.) | 24.7% | 6136.1% |
| Beta vs S&P 500 | 0.55 | -23.33 |
| Max drawdown (3Y) | -19.7% | -99.9% |
| Market cap | $0.3B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 3.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCML | DFNS |
|---|---|---|
| 2022 | +2.2% | +5.0% |
| 2023 | +26.9% | -62.5% |
| 2024 | +16.0% | +59.9% |
| 2025 | +13.0% | -89.0% |
| 2026 | +4.0% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCML and DFNS good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BCML and DFNS?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.33 over the last year and -0.16 over 5 years.
Is DFNS a good diversifier for BCML?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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: BCML correlations · DFNS correlations
