CELH vs KNDI: Correlation
Measured on weekly returns over the past three years, Celsius Holdings, Inc. (CELH) and Kandi Technologies Group, Inc. (KNDI) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CELH and KNDI?
On 3 years of weekly data the CELH/KNDI correlation comes out at 0.39, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.39 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 1480.6 %².
Few assets follow CELH as closely as KNDI, which ranks #3 of 12 tracked partners. On 12-month performance CELH holds a 11.8-point edge, -44.8% against -56.6%.
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.
CELH vs KNDI: side by side
| CELH (Celsius Holdings, Inc.) | KNDI (Kandi Technologies Group, Inc.) | |
|---|---|---|
| 1-year return | -44.8% | -56.6% |
| 5-year return | +24.3% | -87.2% |
| Volatility (ann.) | 66.5% | 56.6% |
| Beta vs S&P 500 | 1.11 | 0.56 |
| Max drawdown (3Y) | -77.9% | -83.3% |
| Market cap | $8.3B | $0.1B |
| P/E (trailing) | 143.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CELH | KNDI |
|---|---|---|
| 2022 | +39.5% | -28.3% |
| 2023 | +57.2% | +21.7% |
| 2024 | -51.7% | -57.1% |
| 2025 | +73.7% | -34.2% |
| 2026 | -27.9% | -19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CELH and KNDI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CELH and KNDI?
As of 2026-08-27, the correlation of weekly returns between CELH and KNDI is 0.39 over 3 years, 0.53 over 1 year and 0.42 over 5 years.
Is KNDI a good diversifier for CELH?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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
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[](https://www.pairbook.io/pair/celh-vs-kndi/)
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Related comparisons
Hubs: CELH correlations · KNDI correlations
