DFNS vs MSCI: Correlation
How closely do T3 Defense Inc. (DFNS) and MSCI (MSCI) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and MSCI?
Across a 3-year window, the weekly returns of DFNS and MSCI correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.29). Stretching to 5 years gives -0.19, with an annualized covariance of -45431.7 %².
Among the 44 assets we track against DFNS, MSCI ranks #37 by 3-year correlation. The last year tells two different stories: DFNS led by 192.2 percentage points, +193.5% for DFNS against +1.3% for MSCI. Note the risk asymmetry: DFNS runs 241.6 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 MSCI: side by side
| DFNS (T3 Defense Inc.) | MSCI (MSCI) | |
|---|---|---|
| 1-year return | +193.5% | +1.3% |
| 5-year return | -77.9% | -5.6% |
| Volatility (ann.) | 6136.1% | 25.4% |
| Beta vs S&P 500 | -23.33 | 0.85 |
| Max drawdown (3Y) | -99.9% | -26.0% |
| Market cap | – | $41.4B |
| P/E (trailing) | – | 30.9 |
| Dividend yield | 0.00% | 1.36% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | DFNS | MSCI |
|---|---|---|
| 2022 | +5.0% | -23.3% |
| 2023 | -62.5% | +22.9% |
| 2024 | +59.9% | +7.3% |
| 2025 | -89.0% | -3.2% |
| 2026 | +215.4% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and MSCI good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DFNS and MSCI?
As of 2026-08-27, the correlation of weekly returns between DFNS and MSCI is -0.29 over 3 years, -0.42 over 1 year and -0.19 over 5 years.
Is MSCI a good diversifier for DFNS?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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-msci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfns-vs-msci/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DFNS correlations · MSCI correlations
