DPRO vs HYFT: Correlation
Measured on weekly returns over the past three years, Draganfly Inc. (DPRO) and MindWalk Holdings Corp. (HYFT) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPRO and HYFT?
Across a 3-year window, the weekly returns of DPRO and HYFT correlate at 0.30, moderate. The past 12 months show a tighter link (0.47) than the 3-year average (0.30). Stretching to 5 years gives 0.24, with an annualized covariance of 3926.7 %².
Within DPRO's tracked universe of 12 assets, HYFT comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DPRO outperformed by 41.2 percentage points (-5.2% for DPRO against -46.4% for HYFT).
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.
DPRO vs HYFT: side by side
| DPRO (Draganfly Inc.) | HYFT (MindWalk Holdings Corp.) | |
|---|---|---|
| 1-year return | -5.2% | -46.4% |
| 5-year return | -93.9% | -80.2% |
| Volatility (ann.) | 118.7% | 110.1% |
| Beta vs S&P 500 | 2.21 | 1.42 |
| Max drawdown (3Y) | -92.7% | -86.3% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DPRO | HYFT |
|---|---|---|
| 2022 | -54.0% | -2.8% |
| 2023 | -36.0% | -67.2% |
| 2024 | -66.6% | -75.9% |
| 2025 | +72.3% | +341.7% |
| 2026 | -36.8% | -22.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPRO and HYFT good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DPRO and HYFT?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.47 over the last year and 0.24 over 5 years.
Is HYFT a good diversifier for DPRO?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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/dpro-vs-hyft.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dpro-vs-hyft/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DPRO correlations · HYFT correlations
