DFNS vs UTZ: Correlation
Measured on weekly returns over the past three years, T3 Defense Inc. (DFNS) and Utz Brands Inc (UTZ) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and UTZ?
Over the past 3 years, DFNS and UTZ moved with a correlation of 0.79, which is strong. The link has tightened recently: the 1-year correlation (0.93) runs above the 3-year figure (0.79). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 318222.0 %².
Within DFNS's tracked universe of 44 assets, UTZ comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DFNS outperformed by 185.2 percentage points (+193.5% for DFNS against +8.3% for UTZ). One caveat on sizing: DFNS is 93.1 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 UTZ: side by side
| DFNS (T3 Defense Inc.) | UTZ (Utz Brands Inc) | |
|---|---|---|
| 1-year return | +193.5% | +8.3% |
| 5-year return | -77.9% | -16.7% |
| Volatility (ann.) | 6136.1% | 65.9% |
| Beta vs S&P 500 | -23.33 | 0.07 |
| Max drawdown (3Y) | -99.9% | -63.8% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFNS | UTZ |
|---|---|---|
| 2022 | +5.0% | +0.9% |
| 2023 | -62.5% | +3.9% |
| 2024 | +59.9% | -2.1% |
| 2025 | -89.0% | -32.3% |
| 2026 | +215.4% | +39.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and UTZ good diversifiers for each other?
Only partially. A correlation of 0.79 means DFNS and UTZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DFNS and UTZ?
As of 2026-08-27, the correlation of weekly returns between DFNS and UTZ is 0.79 over 3 years, 0.93 over 1 year and 0.72 over 5 years.
Is UTZ a good diversifier for DFNS?
Only partially. A correlation of 0.79 means DFNS and UTZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
A reading of 0.79 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DFNS correlations · UTZ correlations
