BLK vs KKR: Correlation
How closely do BlackRock (BLK) and KKR & Co. (KKR) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and KKR?
Across a 3-year window, the weekly returns of BLK and KKR correlate at 0.68, strong. The link has loosened recently: the 1-year correlation (0.51) runs below the 3-year figure (0.68). Stretching to 5 years gives 0.69, with an annualized covariance of 635.2 %².
By 3-year correlation, KKR places #16 of the 42 assets tracked against BLK. The last year tells two different stories: BLK led by 26.9 percentage points, +5.3% for BLK against -21.6% for KKR. On a rolling one-year basis the correlation drifted between 0.49 and 0.83, a moderate band. One caveat on sizing: KKR is 1.5 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.
BLK vs KKR: side by side
| BLK (BlackRock) | KKR (KKR & Co.) | |
|---|---|---|
| 1-year return | +5.3% | -21.6% |
| 5-year return | +38.9% | +77.3% |
| Volatility (ann.) | 24.7% | 37.8% |
| Beta vs S&P 500 | 1.19 | 1.76 |
| Max drawdown (3Y) | -23.7% | -49.4% |
| Market cap | $189.7B | $101.0B |
| P/E (trailing) | 28.1 | 34.7 |
| Dividend yield | 1.86% | 0.70% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | BLK | KKR |
|---|---|---|
| 2022 | -20.4% | -37.0% |
| 2023 | +17.9% | +80.5% |
| 2024 | +29.3% | +79.6% |
| 2025 | +6.6% | -13.3% |
| 2026 | +10.3% | -13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and KKR good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BLK and KKR?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.51 over the last year and 0.69 over 5 years.
Is KKR a good diversifier for BLK?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 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: BLK correlations · KKR correlations
