DFDV vs PCQ: Correlation
How closely do DeFi Development Corp. (DFDV) and PIMCO California Municipal Income Fund (PCQ) 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 PCQ?
Across a 3-year window, the weekly returns of DFDV and PCQ correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.19) than the 3-year average (-0.31). Stretching to 5 years gives n/a, with an annualized covariance of -2710.7 %².
Within DFDV's tracked universe of 60 assets, PCQ comes in at #48 by 3-year correlation. The last year tells two different stories: PCQ led by 76.7 percentage points, -65.4% for DFDV against +11.3% for PCQ. Note the risk asymmetry: DFDV runs 55.5 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 PCQ: side by side
| DFDV (DeFi Development Corp.) | PCQ (PIMCO California Municipal Income Fund) | |
|---|---|---|
| 1-year return | -65.4% | +11.3% |
| 5-year return | n/a | -40.9% |
| Volatility (ann.) | 693.3% | 12.5% |
| Beta vs S&P 500 | 12.24 | 0.25 |
| Max drawdown (3Y) | -94.2% | -17.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 291.0 |
| Dividend yield | 0.00% | 4.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | PCQ |
|---|---|---|
| 2022 | – | -14.7% |
| 2023 | – | -35.4% |
| 2024 | -41.1% | +1.5% |
| 2025 | +628.1% | +1.5% |
| 2026 | +4.6% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and PCQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between DFDV and PCQ?
As of 2026-08-27, the correlation of weekly returns between DFDV and PCQ is -0.31 over 3 years, 0.19 over 1 year and n/a over 5 years.
Is PCQ a good diversifier for DFDV?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
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-pcq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfdv-vs-pcq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DFDV correlations · PCQ correlations
