DFDV vs MHD: Correlation
Measured on weekly returns over the past three years, DeFi Development Corp. (DFDV) and Blackrock MuniHoldings Fund, Inc. (MHD) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and MHD?
On 3 years of weekly data the DFDV/MHD correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.22) than the 3-year average (-0.33). The 5-year figure is n/a, and annualized covariance runs at -2679.0 %².
Among the 60 assets we track against DFDV, MHD ranks #53 by 3-year correlation. The last year tells two different stories: MHD led by 75.6 percentage points, -65.4% for DFDV against +10.2% for MHD. Risk is not evenly split, since DFDV carries 59.3 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.
DFDV vs MHD: side by side
| DFDV (DeFi Development Corp.) | MHD (Blackrock MuniHoldings Fund, Inc.) | |
|---|---|---|
| 1-year return | -65.4% | +10.2% |
| 5-year return | n/a | -12.7% |
| Volatility (ann.) | 693.3% | 11.7% |
| Beta vs S&P 500 | 12.24 | 0.26 |
| Max drawdown (3Y) | -94.2% | -13.2% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 37.0 |
| Dividend yield | 0.00% | 6.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | MHD |
|---|---|---|
| 2022 | – | -23.7% |
| 2023 | – | +2.1% |
| 2024 | -41.1% | +3.4% |
| 2025 | +628.1% | +7.1% |
| 2026 | +4.6% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and MHD good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between DFDV and MHD?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with 0.22 over the last year and n/a over 5 years.
Is MHD a good diversifier for DFDV?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dfdv-vs-mhd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfdv-vs-mhd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DFDV correlations · MHD correlations
