DFDV vs ETJ: Correlation
DeFi Development Corp. (DFDV) and Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and ETJ?
Over the past 3 years, DFDV and ETJ moved with a correlation of 0.34, which is moderate. Little has changed lately, as the 1-year reading of 0.30 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 3019.1 %².
Among the 60 assets we track against DFDV, ETJ ranks #5 by 3-year correlation. The last year tells two different stories: ETJ led by 68.8 percentage points, -65.4% for DFDV against +3.4% for ETJ. Note the risk asymmetry: DFDV runs 53.3 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.
DFDV vs ETJ: side by side
| DFDV (DeFi Development Corp.) | ETJ (Eaton Vance Risk-Managed Diversified Equity Income Fund) | |
|---|---|---|
| 1-year return | -65.4% | +3.4% |
| 5-year return | n/a | +19.5% |
| Volatility (ann.) | 693.3% | 13.0% |
| Beta vs S&P 500 | 12.24 | 0.71 |
| Max drawdown (3Y) | -94.2% | -15.4% |
| Market cap | $0.2B | $0.6B |
| P/E (trailing) | – | 11.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | ETJ |
|---|---|---|
| 2022 | – | -22.7% |
| 2023 | – | +14.2% |
| 2024 | -41.1% | +29.5% |
| 2025 | +628.1% | +3.5% |
| 2026 | +4.6% | +2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and ETJ good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DFDV and ETJ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.30 over the last year and n/a over 5 years.
Is ETJ a good diversifier for DFDV?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dfdv-vs-etj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfdv-vs-etj/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DFDV correlations · ETJ correlations
