CAAS vs KYN: Correlation
Measured on weekly returns over the past three years, China Automotive Systems, Inc. (CAAS) and Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAAS and KYN?
Across a 3-year window, the weekly returns of CAAS and KYN correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.38 over 3 years. Stretching to 5 years gives 0.24, with an annualized covariance of 287.2 %².
Within CAAS's tracked universe of 12 assets, KYN comes in at #4 by 3-year correlation. Their 12-month results are close: +24.8% for CAAS against +29.1% for KYN. One caveat on sizing: CAAS is 1.6 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.
CAAS vs KYN: side by side
| CAAS (China Automotive Systems, Inc.) | KYN (Kayne Anderson Energy Infrastructure Fund, Inc.) | |
|---|---|---|
| 1-year return | +24.8% | +29.1% |
| 5-year return | +72.1% | +190.9% |
| Volatility (ann.) | 34.5% | 22.0% |
| Beta vs S&P 500 | 0.49 | 0.44 |
| Max drawdown (3Y) | -32.9% | -21.6% |
| Market cap | $0.2B | $2.5B |
| P/E (trailing) | 2.8 | 5.1 |
| Dividend yield | 0.00% | 6.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAAS | KYN |
|---|---|---|
| 2022 | +116.4% | +20.5% |
| 2023 | -44.3% | +13.2% |
| 2024 | +52.0% | +60.4% |
| 2025 | +3.9% | +5.3% |
| 2026 | +18.1% | +25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAAS and KYN good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAAS and KYN?
As of 2026-08-27, the correlation of weekly returns between CAAS and KYN is 0.38 over 3 years, 0.23 over 1 year and 0.24 over 5 years.
Is KYN a good diversifier for CAAS?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/caas-vs-kyn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/caas-vs-kyn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAAS correlations · KYN correlations
