DFNS vs LSTA: Correlation
T3 Defense Inc. (DFNS) and Lisata Therapeutics, Inc. (LSTA) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and LSTA?
Over the past 3 years, DFNS and LSTA moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -191993.0 %².
Among the 44 assets we track against DFNS, LSTA sits near the bottom by co-movement, at rank #40. Correlation aside, the last 12 months split them widely, with DFNS ahead by 220.7 points (+193.5% versus -27.2%). One caveat on sizing: DFNS is 67.4 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.
DFNS vs LSTA: side by side
| DFNS (T3 Defense Inc.) | LSTA (Lisata Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +193.5% | -27.2% |
| 5-year return | -77.9% | -90.4% |
| Volatility (ann.) | 6136.1% | 91.1% |
| Beta vs S&P 500 | -23.33 | 0.31 |
| Max drawdown (3Y) | -99.9% | -80.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFNS | LSTA |
|---|---|---|
| 2022 | +5.0% | -79.9% |
| 2023 | -62.5% | +7.9% |
| 2024 | +59.9% | +9.2% |
| 2025 | -89.0% | -37.6% |
| 2026 | +215.4% | -2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and LSTA good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between DFNS and LSTA?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.43 over the last year and -0.30 over 5 years.
Is LSTA a good diversifier for DFNS?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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.
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Related comparisons
Hubs: DFNS correlations · LSTA correlations
