BGR vs KGEI: Correlation
BlackRock Energy and Resources Trust (BGR) and Kolibri Global Energy Inc. (KGEI) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGR and KGEI?
Across a 3-year window, the weekly returns of BGR and KGEI correlate at 0.42, moderate. The past 12 months show a tighter link (0.64) than the 3-year average (0.42). Stretching to 5 years gives 0.29, with an annualized covariance of 426.3 %².
Among the 19 assets we track against BGR, KGEI ranks #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BGR ahead by 29.7 points (+35.3% versus +5.6%). Note the risk asymmetry: KGEI runs 2.6 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.
BGR vs KGEI: side by side
| BGR (BlackRock Energy and Resources Trust) | KGEI (Kolibri Global Energy Inc.) | |
|---|---|---|
| 1-year return | +35.3% | +5.6% |
| 5-year return | +165.0% | +631.2% |
| Volatility (ann.) | 19.7% | 51.1% |
| Beta vs S&P 500 | 0.21 | 0.13 |
| Max drawdown (3Y) | -18.3% | -64.7% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | 10.8 | 10.6 |
| Dividend yield | 6.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGR | KGEI |
|---|---|---|
| 2022 | +38.9% | +391.7% |
| 2023 | +5.8% | +27.1% |
| 2024 | +8.1% | +41.9% |
| 2025 | +17.3% | -26.1% |
| 2026 | +30.7% | +48.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGR and KGEI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BGR and KGEI?
The BGR/KGEI correlation stands at 0.42 on a 3-year window (1 year: 0.64, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is KGEI a good diversifier for BGR?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgr-vs-kgei.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgr-vs-kgei/)
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Related comparisons
Hubs: BGR correlations · KGEI correlations
