DFDV vs NBH: Correlation
How closely do DeFi Development Corp. (DFDV) and Neuberger Municipal Fund Inc. (NBH) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and NBH?
Over the past 3 years, DFDV and NBH moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.27) runs above the 3-year figure (-0.31). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2452.9 %².
Within DFDV's tracked universe of 60 assets, NBH comes in at #47 by 3-year correlation. The last year tells two different stories: NBH led by 75.6 percentage points, -65.4% for DFDV against +10.2% for NBH. Risk is not evenly split, since DFDV carries 60.8 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 NBH: side by side
| DFDV (DeFi Development Corp.) | NBH (Neuberger Municipal Fund Inc.) | |
|---|---|---|
| 1-year return | -65.4% | +10.2% |
| 5-year return | n/a | -21.0% |
| Volatility (ann.) | 693.3% | 11.4% |
| Beta vs S&P 500 | 12.24 | 0.30 |
| Max drawdown (3Y) | -94.2% | -11.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 14.6 |
| Dividend yield | 0.00% | 6.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | NBH |
|---|---|---|
| 2022 | – | -28.2% |
| 2023 | – | +4.0% |
| 2024 | -41.1% | +5.3% |
| 2025 | +628.1% | +4.2% |
| 2026 | +4.6% | +4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and NBH good diversifiers for each other?
Yes. With a correlation of -0.31, DFDV and NBH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFDV and NBH?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with 0.27 over the last year and n/a over 5 years.
Is NBH a good diversifier for DFDV?
Yes. With a correlation of -0.31, DFDV and NBH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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-nbh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dfdv-vs-nbh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DFDV correlations · NBH correlations
