DFDV vs LQD: Correlation
DeFi Development Corp. (DFDV) and iShares iBoxx Investment Grade Corporate Bond ETF (LQD) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and LQD?
Across a 3-year window, the weekly returns of DFDV and LQD correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.17 versus -0.26 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1290.4 %².
Among the 60 assets we track against DFDV, LQD ranks #22 by 3-year correlation. The last year tells two different stories: LQD led by 66.9 percentage points, -65.4% for DFDV against +1.5% for LQD. One caveat on sizing: DFDV is 95.0 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.
DFDV vs LQD: side by side
| DFDV (DeFi Development Corp.) | LQD (iShares iBoxx Investment Grade Corporate Bond ETF) | |
|---|---|---|
| 1-year return | -65.4% | +1.5% |
| 5-year return | n/a | -4.1% |
| Volatility (ann.) | 693.3% | 7.3% |
| Beta vs S&P 500 | 12.24 | 0.15 |
| Max drawdown (3Y) | -94.2% | -6.7% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 4.66% |
| Expense ratio | – | 0.14% |
| Assets under management | – | $33.0B |
| Sector / category | US Listed | ETF · Bonds |
LQD, iShares's Corporate Bond fund, carries $33.0B under management, a 0.14% expense ratio, a 4.66% trailing dividend yield.
Year-by-year returns
| Year | DFDV | LQD |
|---|---|---|
| 2022 | – | -17.9% |
| 2023 | – | +9.4% |
| 2024 | -41.1% | +0.9% |
| 2025 | +628.1% | +7.9% |
| 2026 | +4.6% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and LQD good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DFDV and LQD?
As of 2026-08-27, the correlation of weekly returns between DFDV and LQD is -0.26 over 3 years, 0.17 over 1 year and n/a over 5 years.
Is LQD a good diversifier for DFDV?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
$ curl https://www.pairbook.io/api/v1/pairs/dfdv-vs-lqd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dfdv-vs-lqd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DFDV correlations · LQD correlations
