DFDV vs PNI: Correlation
How closely do DeFi Development Corp. (DFDV) and Pimco New York Municipal Income Fund II (PNI) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and PNI?
Over the past 3 years, DFDV and PNI moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.21 versus -0.27 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2345.0 %².
Within DFDV's tracked universe of 60 assets, PNI comes in at #31 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PNI ahead by 74.7 points (-65.4% versus +9.3%). One caveat on sizing: DFDV is 55.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PNI: side by side
| DFDV (DeFi Development Corp.) | PNI (Pimco New York Municipal Income Fund II) | |
|---|---|---|
| 1-year return | -65.4% | +9.3% |
| 5-year return | n/a | -26.1% |
| Volatility (ann.) | 693.3% | 12.4% |
| Beta vs S&P 500 | 12.24 | 0.28 |
| Max drawdown (3Y) | -94.2% | -16.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 5.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFDV | PNI |
|---|---|---|
| 2022 | – | -26.5% |
| 2023 | – | +0.2% |
| 2024 | -41.1% | -1.0% |
| 2025 | +628.1% | +1.4% |
| 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 PNI good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between DFDV and PNI?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.21 over the last year and n/a over 5 years.
Is PNI a good diversifier for DFDV?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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-pni.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dfdv-vs-pni/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DFDV correlations · PNI correlations
