DFNS vs WLFC: Correlation
T3 Defense Inc. (DFNS) and Willis Lease Finance Corporation (WLFC) show a negative relationship: their 3-year correlation of weekly returns is -0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFNS and WLFC?
Over the past 3 years, DFNS and WLFC moved with a correlation of -0.60, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.77) than the 3-year average (-0.60). Over 5 years the correlation is -0.54, and the annualized covariance of weekly returns is -224466.1 %².
WLFC is close to the least connected end of DFNS's tracked universe, ranking #44 of 44. Their recent paths diverged sharply: over the last 12 months DFNS outperformed by 256.8 percentage points (+193.5% for DFNS against -63.3% for WLFC). Note the risk asymmetry: DFNS runs 100.1 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 WLFC: side by side
| DFNS (T3 Defense Inc.) | WLFC (Willis Lease Finance Corporation) | |
|---|---|---|
| 1-year return | +193.5% | -63.3% |
| 5-year return | -77.9% | +47.2% |
| Volatility (ann.) | 6136.1% | 61.3% |
| Beta vs S&P 500 | -23.33 | 1.30 |
| Max drawdown (3Y) | -99.9% | -77.4% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 13.8 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DFNS | WLFC |
|---|---|---|
| 2022 | +5.0% | +56.7% |
| 2023 | -62.5% | -17.2% |
| 2024 | +59.9% | +327.3% |
| 2025 | -89.0% | -34.5% |
| 2026 | +215.4% | -59.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFNS and WLFC good diversifiers for each other?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
FAQ
What is the correlation between DFNS and WLFC?
As of 2026-08-27, the correlation of weekly returns between DFNS and WLFC is -0.60 over 3 years, -0.77 over 1 year and -0.54 over 5 years.
Is WLFC a good diversifier for DFNS?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
What does a correlation of -0.60 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-wlfc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dfns-vs-wlfc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DFNS correlations · WLFC correlations
