DFDV vs TLT: Correlation
Measured on weekly returns over the past three years, DeFi Development Corp. (DFDV) and iShares 20+ Year Treasury Bond ETF (TLT) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFDV and TLT?
Over the past 3 years, DFDV and TLT moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.11 versus -0.28 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2596.0 %².
Among the 60 assets we track against DFDV, TLT ranks #36 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TLT outperformed by 65.7 percentage points (-65.4% for DFDV against +0.3% for TLT). Note the risk asymmetry: DFDV runs 51.4 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 TLT: side by side
| DFDV (DeFi Development Corp.) | TLT (iShares 20+ Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | -65.4% | +0.3% |
| 5-year return | n/a | -34.0% |
| Volatility (ann.) | 693.3% | 13.5% |
| Beta vs S&P 500 | 12.24 | 0.11 |
| Max drawdown (3Y) | -94.2% | -14.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 4.75% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $41.5B |
| Sector / category | US Listed | ETF · Bonds |
On the fund side, TLT sits in the Long Government category at iShares, with $41.5B under management, a 0.15% expense ratio, a 4.75% trailing dividend yield.
Year-by-year returns
| Year | DFDV | TLT |
|---|---|---|
| 2022 | – | -31.2% |
| 2023 | – | +2.8% |
| 2024 | -41.1% | -8.1% |
| 2025 | +628.1% | +4.2% |
| 2026 | +4.6% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFDV and TLT good diversifiers for each other?
Yes. With a correlation of -0.28, DFDV and TLT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFDV and TLT?
As of 2026-08-27, the correlation of weekly returns between DFDV and TLT is -0.28 over 3 years, 0.11 over 1 year and n/a over 5 years.
Is TLT a good diversifier for DFDV?
Yes. With a correlation of -0.28, DFDV and TLT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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-tlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfdv-vs-tlt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DFDV correlations · TLT correlations
