BZ vs KWEB: Correlation
How closely do KANZHUN LIMITED - American Depository Shares (BZ) and KraneShares CSI China Internet ETF (KWEB) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZ and KWEB?
Over the past 3 years, BZ and KWEB moved with a correlation of 0.76, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.51 versus 0.76 over 3 years. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 1266.6 %².
In BZ's tracked universe of 17 assets, KWEB sits right near the top at #1. The trailing year gives BZ the advantage: -20.7% versus -26.1%, a 5.4-point spread.
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.
BZ vs KWEB: side by side
| BZ (KANZHUN LIMITED - American Depository Shares) | KWEB (KraneShares CSI China Internet ETF) | |
|---|---|---|
| 1-year return | -20.7% | -26.1% |
| 5-year return | -47.9% | -36.2% |
| Volatility (ann.) | 49.3% | 33.9% |
| Beta vs S&P 500 | 1.20 | 0.90 |
| Max drawdown (3Y) | -51.6% | -41.6% |
| Market cap | $8.0B | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | BZ | KWEB |
|---|---|---|
| 2022 | -41.6% | -17.2% |
| 2023 | -17.5% | -9.1% |
| 2024 | -16.9% | +12.0% |
| 2025 | +48.7% | +23.5% |
| 2026 | -11.7% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZ and KWEB good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BZ and KWEB?
As of 2026-08-27, the correlation of weekly returns between BZ and KWEB is 0.76 over 3 years, 0.51 over 1 year and 0.81 over 5 years.
Is KWEB a good diversifier for BZ?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
A reading of 0.76 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/bz-vs-kweb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bz-vs-kweb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BZ correlations · KWEB correlations
