DFNS vs SAFT: Correlation
Measured on weekly returns over the past three years, T3 Defense Inc. (DFNS) and Safety Insurance Group, Inc. (SAFT) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and SAFT?
Over the past 3 years, DFNS and SAFT moved with a correlation of 0.70, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.90 versus 0.70 over 3 years. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 131260.3 %².
Among the 44 assets we track against DFNS, SAFT ranks #9 by 3-year correlation. The last year tells two different stories: DFNS led by 144.7 percentage points, +193.5% for DFNS against +48.8% for SAFT. One caveat on sizing: DFNS is 199.2 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 SAFT: side by side
| DFNS (T3 Defense Inc.) | SAFT (Safety Insurance Group, Inc.) | |
|---|---|---|
| 1-year return | +193.5% | +48.8% |
| 5-year return | -77.9% | +58.1% |
| Volatility (ann.) | 6136.1% | 30.8% |
| Beta vs S&P 500 | -23.33 | 0.17 |
| Max drawdown (3Y) | -99.9% | -20.1% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | 22.3 |
| Dividend yield | 0.00% | 3.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFNS | SAFT |
|---|---|---|
| 2022 | +5.0% | +3.1% |
| 2023 | -62.5% | -5.4% |
| 2024 | +59.9% | +13.3% |
| 2025 | -89.0% | -0.8% |
| 2026 | +215.4% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and SAFT good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DFNS and SAFT?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.90 over the last year and 0.59 over 5 years.
Is SAFT a good diversifier for DFNS?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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-saft.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dfns-vs-saft/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DFNS correlations · SAFT correlations
