BHST vs DFNS: Correlation
BioHarvest Sciences Inc. (BHST) and T3 Defense Inc. (DFNS) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHST and DFNS?
Over the past 3 years, BHST and DFNS moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.25 over 3. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -93598.1 %².
Among the 10 assets we track against BHST, DFNS sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with DFNS ahead by 271.5 points (-78.0% versus +193.5%). Risk is not evenly split, since DFNS carries 99.3 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.
BHST vs DFNS: side by side
| BHST (BioHarvest Sciences Inc.) | DFNS (T3 Defense Inc.) | |
|---|---|---|
| 1-year return | -78.0% | +193.5% |
| 5-year return | -83.4% | -77.9% |
| Volatility (ann.) | 61.8% | 6136.1% |
| Beta vs S&P 500 | 0.85 | -23.33 |
| Max drawdown (3Y) | -85.4% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHST | DFNS |
|---|---|---|
| 2022 | -39.4% | +5.0% |
| 2023 | -27.5% | -62.5% |
| 2024 | +11.8% | +59.9% |
| 2025 | -16.0% | -89.0% |
| 2026 | -64.4% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHST and DFNS good diversifiers for each other?
Yes. With a correlation of -0.25, BHST and DFNS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BHST and DFNS?
As of 2026-08-27, the correlation of weekly returns between BHST and DFNS is -0.25 over 3 years, -0.33 over 1 year and -0.18 over 5 years.
Is DFNS a good diversifier for BHST?
Yes. With a correlation of -0.25, BHST and DFNS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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.
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Related comparisons
Hubs: BHST correlations · DFNS correlations
