DCOM vs KREF: Correlation
Measured on weekly returns over the past three years, Dime Commercial Bancshares, Inc. (DCOM) and KKR Real Estate Finance Trust Inc. (KREF) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCOM and KREF?
Over the past 3 years, DCOM and KREF moved with a correlation of 0.56, which is moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.56). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 604.6 %².
By 3-year correlation, KREF places #9 of the 15 assets tracked against DCOM. The last year tells two different stories: DCOM led by 46.1 percentage points, +36.1% for DCOM against -10.0% for KREF.
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.
DCOM vs KREF: side by side
| DCOM (Dime Commercial Bancshares, Inc.) | KREF (KKR Real Estate Finance Trust Inc.) | |
|---|---|---|
| 1-year return | +36.1% | -10.0% |
| 5-year return | +46.6% | -38.4% |
| Volatility (ann.) | 33.3% | 32.2% |
| Beta vs S&P 500 | 0.87 | 0.66 |
| Max drawdown (3Y) | -36.0% | -44.9% |
| Market cap | $1.8B | $0.5B |
| P/E (trailing) | 14.6 | – |
| Dividend yield | 2.48% | 11.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCOM | KREF |
|---|---|---|
| 2022 | -6.8% | -25.9% |
| 2023 | -11.5% | +9.2% |
| 2024 | +19.0% | -15.8% |
| 2025 | +1.4% | -9.3% |
| 2026 | +37.1% | -2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCOM and KREF good diversifiers for each other?
Only partially. A correlation of 0.56 means DCOM and KREF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DCOM and KREF?
The DCOM/KREF correlation stands at 0.56 on a 3-year window (1 year: 0.24, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is KREF a good diversifier for DCOM?
Only partially. A correlation of 0.56 means DCOM and KREF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/dcom-vs-kref.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dcom-vs-kref/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DCOM correlations · KREF correlations
