DFDV vs NUW: Correlation
How closely do DeFi Development Corp. (DFDV) and Nuveen AMT-Free Municipal Value Fund (NUW) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and NUW?
On 3 years of weekly data the DFDV/NUW correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.17) than the 3-year average (-0.30). The 5-year figure is n/a, and annualized covariance runs at -1787.7 %².
Among the 60 assets we track against DFDV, NUW ranks #44 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NUW outperformed by 71.3 percentage points (-65.4% for DFDV against +5.9% for NUW). Risk is not evenly split, since DFDV carries 79.7 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 NUW: side by side
| DFDV (DeFi Development Corp.) | NUW (Nuveen AMT-Free Municipal Value Fund) | |
|---|---|---|
| 1-year return | -65.4% | +5.9% |
| 5-year return | n/a | -1.6% |
| Volatility (ann.) | 693.3% | 8.7% |
| Beta vs S&P 500 | 12.24 | 0.15 |
| Max drawdown (3Y) | -94.2% | -7.7% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | – | 16.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | NUW |
|---|---|---|
| 2022 | – | -15.2% |
| 2023 | – | +3.8% |
| 2024 | -41.1% | +3.6% |
| 2025 | +628.1% | +9.9% |
| 2026 | +4.6% | -0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and NUW good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DFDV and NUW?
The DFDV/NUW correlation stands at -0.30 on a 3-year window (1 year: 0.17, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NUW a good diversifier for DFDV?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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-nuw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dfdv-vs-nuw/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: DFDV correlations · NUW correlations
