DFDV vs NBB: Correlation
Measured on weekly returns over the past three years, DeFi Development Corp. (DFDV) and Nuveen Taxable Municipal Income Fund (NBB) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and NBB?
Across a 3-year window, the weekly returns of DFDV and NBB correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.24) than the 3-year average (-0.27). Stretching to 5 years gives n/a, with an annualized covariance of -2239.9 %².
Within DFDV's tracked universe of 60 assets, NBB comes in at #30 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NBB outperformed by 70.7 percentage points (-65.4% for DFDV against +5.3% for NBB). Note the risk asymmetry: DFDV runs 57.8 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 NBB: side by side
| DFDV (DeFi Development Corp.) | NBB (Nuveen Taxable Municipal Income Fund) | |
|---|---|---|
| 1-year return | -65.4% | +5.3% |
| 5-year return | n/a | -5.4% |
| Volatility (ann.) | 693.3% | 12.0% |
| Beta vs S&P 500 | 12.24 | 0.22 |
| Max drawdown (3Y) | -94.2% | -11.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 16.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | NBB |
|---|---|---|
| 2022 | – | -24.6% |
| 2023 | – | +7.6% |
| 2024 | -41.1% | +1.4% |
| 2025 | +628.1% | +13.6% |
| 2026 | +4.6% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and NBB good diversifiers for each other?
Yes. With a correlation of -0.27, DFDV and NBB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFDV and NBB?
As of 2026-08-27, the correlation of weekly returns between DFDV and NBB is -0.27 over 3 years, 0.24 over 1 year and n/a over 5 years.
Is NBB a good diversifier for DFDV?
Yes. With a correlation of -0.27, DFDV and NBB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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-nbb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dfdv-vs-nbb/)
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Related comparisons
Hubs: DFDV correlations · NBB correlations
