DFLI vs NAGE: Correlation
Dragonfly Energy Holdings Corp (DFLI) and Niagen Bioscience, Inc. (NAGE) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFLI and NAGE?
On 3 years of weekly data the DFLI/NAGE correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.52 versus -0.22 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -3543.3 %².
Among the 15 assets we track against DFLI, NAGE sits near the bottom by co-movement, at rank #12. Neither side won the trailing year by much: -64.8% against -67.1%. Note the risk asymmetry: DFLI runs 2.7 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.
DFLI vs NAGE: side by side
| DFLI (Dragonfly Energy Holdings Corp) | NAGE (Niagen Bioscience, Inc.) | |
|---|---|---|
| 1-year return | -64.8% | -67.1% |
| 5-year return | -99.9% | -61.2% |
| Volatility (ann.) | 208.7% | 78.5% |
| Beta vs S&P 500 | 1.72 | 0.93 |
| Max drawdown (3Y) | -99.3% | -79.5% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 17.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFLI | NAGE |
|---|---|---|
| 2022 | +19.4% | -55.1% |
| 2023 | -95.4% | -14.9% |
| 2024 | -43.0% | +271.3% |
| 2025 | -89.0% | +19.8% |
| 2026 | -62.9% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFLI and NAGE good diversifiers for each other?
Yes. With a correlation of -0.22, DFLI and NAGE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFLI and NAGE?
As of 2026-08-27, the correlation of weekly returns between DFLI and NAGE is -0.22 over 3 years, -0.52 over 1 year and -0.18 over 5 years.
Is NAGE a good diversifier for DFLI?
Yes. With a correlation of -0.22, DFLI and NAGE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/dfli-vs-nage.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfli-vs-nage/)
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Related comparisons
Hubs: DFLI correlations · NAGE correlations
