DFDV vs NREF: Correlation
Measured on weekly returns over the past three years, DeFi Development Corp. (DFDV) and NexPoint Real Estate Finance, Inc. (NREF) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and NREF?
On 3 years of weekly data the DFDV/NREF correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.20 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -3866.4 %².
By 3-year correlation, NREF places #14 of the 60 assets tracked against DFDV. The last year tells two different stories: NREF led by 97.4 percentage points, -65.4% for DFDV against +32.0% for NREF. Note the risk asymmetry: DFDV runs 24.3 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 NREF: side by side
| DFDV (DeFi Development Corp.) | NREF (NexPoint Real Estate Finance, Inc.) | |
|---|---|---|
| 1-year return | -65.4% | +32.0% |
| 5-year return | n/a | +54.2% |
| Volatility (ann.) | 693.3% | 28.5% |
| Beta vs S&P 500 | 12.24 | 0.63 |
| Max drawdown (3Y) | -94.2% | -24.0% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 0.00% | 11.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | NREF |
|---|---|---|
| 2022 | – | -8.9% |
| 2023 | – | +17.4% |
| 2024 | -41.1% | +13.5% |
| 2025 | +628.1% | +2.3% |
| 2026 | +4.6% | +32.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and NREF good diversifiers for each other?
Yes. With a correlation of -0.20, DFDV and NREF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFDV and NREF?
The DFDV/NREF correlation stands at -0.20 on a 3-year window (1 year: 0.04, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NREF a good diversifier for DFDV?
Yes. With a correlation of -0.20, DFDV and NREF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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-nref.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfdv-vs-nref/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DFDV correlations · NREF correlations
