CDT vs DFNS: Correlation
CDT Equity Inc. (CDT) and T3 Defense Inc. (DFNS) show a very strong relationship: their 3-year correlation of weekly returns is 0.90.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDT and DFNS?
Across a 3-year window, the weekly returns of CDT and DFNS correlate at 0.90, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.99 over 1 year against 0.90 over 3. Stretching to 5 years gives 0.90, with an annualized covariance of 3020360.7 %².
Among the 20 assets we track against CDT, DFNS ranks #6 by 3-year correlation. The last year tells two different stories: DFNS led by 292.8 percentage points, -99.3% for CDT against +193.5% for DFNS. Risk is not evenly split, since DFNS carries 11.2 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.
CDT vs DFNS: side by side
| CDT (CDT Equity Inc.) | DFNS (T3 Defense Inc.) | |
|---|---|---|
| 1-year return | -99.3% | +193.5% |
| 5-year return | -100.0% | -77.9% |
| Volatility (ann.) | 546.1% | 6136.1% |
| Beta vs S&P 500 | 0.29 | -23.33 |
| Max drawdown (3Y) | -100.0% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDT | DFNS |
|---|---|---|
| 2022 | – | +5.0% |
| 2023 | -55.6% | -62.5% |
| 2024 | -98.5% | +59.9% |
| 2025 | -99.8% | -89.0% |
| 2026 | -94.1% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDT and DFNS good diversifiers for each other?
No. With a correlation of 0.90, CDT and DFNS move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CDT and DFNS?
The CDT/DFNS correlation stands at 0.90 on a 3-year window (1 year: 0.99, 5 years: 0.90), computed from weekly returns as of 2026-08-27.
Is DFNS a good diversifier for CDT?
No. With a correlation of 0.90, CDT and DFNS move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.90 mean?
On the −1 to +1 scale, 0.90 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
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Related comparisons
Hubs: CDT correlations · DFNS correlations
