DFNS vs LOAN: Correlation
Measured on weekly returns over the past three years, T3 Defense Inc. (DFNS) and Manhattan Bridge Capital, Inc (LOAN) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and LOAN?
Across a 3-year window, the weekly returns of DFNS and LOAN correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.23). Stretching to 5 years gives -0.17, with an annualized covariance of -32049.9 %².
Among the 44 assets we track against DFNS, LOAN ranks #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DFNS outperformed by 210.5 percentage points (+193.5% for DFNS against -17.0% for LOAN). Note the risk asymmetry: DFNS runs 269.1 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.
DFNS vs LOAN: side by side
| DFNS (T3 Defense Inc.) | LOAN (Manhattan Bridge Capital, Inc) | |
|---|---|---|
| 1-year return | +193.5% | -17.0% |
| 5-year return | -77.9% | -1.5% |
| Volatility (ann.) | 6136.1% | 22.8% |
| Beta vs S&P 500 | -23.33 | 0.07 |
| Max drawdown (3Y) | -99.9% | -24.8% |
| Market cap | – | – |
| P/E (trailing) | – | 9.7 |
| Dividend yield | 0.00% | 11.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFNS | LOAN |
|---|---|---|
| 2022 | +5.0% | +5.7% |
| 2023 | -62.5% | +2.2% |
| 2024 | +59.9% | +22.5% |
| 2025 | -89.0% | -9.4% |
| 2026 | +215.4% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and LOAN good diversifiers for each other?
Yes. With a correlation of -0.23, DFNS and LOAN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFNS and LOAN?
The DFNS/LOAN correlation stands at -0.23 on a 3-year window (1 year: -0.40, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is LOAN a good diversifier for DFNS?
Yes. With a correlation of -0.23, DFNS and LOAN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dfns-vs-loan.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dfns-vs-loan/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DFNS correlations · LOAN correlations
