DFDV vs NAC: Correlation
DeFi Development Corp. (DFDV) and Nuveen California Quality Municipal Income Fund (NAC) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and NAC?
Over the past 3 years, DFDV and NAC moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.16) than the 3-year average (-0.33). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2407.4 %².
Among the 60 assets we track against DFDV, NAC ranks #54 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NAC outperformed by 78.2 percentage points (-65.4% for DFDV against +12.8% for NAC). One caveat on sizing: DFDV is 66.0 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 NAC: side by side
| DFDV (DeFi Development Corp.) | NAC (Nuveen California Quality Municipal Income Fund) | |
|---|---|---|
| 1-year return | -65.4% | +12.8% |
| 5-year return | n/a | -0.8% |
| Volatility (ann.) | 693.3% | 10.5% |
| Beta vs S&P 500 | 12.24 | 0.21 |
| Max drawdown (3Y) | -94.2% | -9.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 7.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | NAC |
|---|---|---|
| 2022 | – | -25.6% |
| 2023 | – | +4.5% |
| 2024 | -41.1% | +8.7% |
| 2025 | +628.1% | +13.1% |
| 2026 | +4.6% | +4.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and NAC 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 NAC?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with 0.16 over the last year and n/a over 5 years.
Is NAC 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?
A reading of -0.33 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-nac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfdv-vs-nac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DFDV correlations · NAC correlations
