DFNS vs MRTN: Correlation
T3 Defense Inc. (DFNS) and Marten Transport, Ltd. (MRTN) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and MRTN?
On 3 years of weekly data the DFNS/MRTN correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. The 5-year figure is -0.16, and annualized covariance runs at -35162.3 %².
Within DFNS's tracked universe of 44 assets, MRTN comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DFNS ahead by 170.1 points (+193.5% versus +23.4%). Risk is not evenly split, since DFNS carries 214.5 times the volatility of the other side.
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 MRTN: side by side
| DFNS (T3 Defense Inc.) | MRTN (Marten Transport, Ltd.) | |
|---|---|---|
| 1-year return | +193.5% | +23.4% |
| 5-year return | -77.9% | -1.0% |
| Volatility (ann.) | 6136.1% | 28.6% |
| Beta vs S&P 500 | -23.33 | 0.78 |
| Max drawdown (3Y) | -99.9% | -54.8% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 96.4 |
| Dividend yield | 0.00% | 1.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFNS | MRTN |
|---|---|---|
| 2022 | +5.0% | +16.7% |
| 2023 | -62.5% | +7.3% |
| 2024 | +59.9% | -24.6% |
| 2025 | -89.0% | -25.7% |
| 2026 | +215.4% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and MRTN good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DFNS and MRTN?
As of 2026-08-27, the correlation of weekly returns between DFNS and MRTN is -0.20 over 3 years, -0.25 over 1 year and -0.16 over 5 years.
Is MRTN a good diversifier for DFNS?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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/dfns-vs-mrtn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dfns-vs-mrtn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DFNS correlations · MRTN correlations
