DKNG vs SRAD: Correlation
DraftKings Inc. (DKNG) and Sportradar Group AG - Class A (SRAD) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DKNG and SRAD?
Across a 3-year window, the weekly returns of DKNG and SRAD correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 1031.3 %².
Among the 12 assets we track against DKNG, SRAD ranks #6 by 3-year correlation. The trailing year gives DKNG the advantage: -49.3% versus -59.2%, a 9.9-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.
DKNG vs SRAD: side by side
| DKNG (DraftKings Inc.) | SRAD (Sportradar Group AG - Class A) | |
|---|---|---|
| 1-year return | -49.3% | -59.2% |
| 5-year return | -59.1% | -49.0% |
| Volatility (ann.) | 50.0% | 42.2% |
| Beta vs S&P 500 | 1.64 | 0.97 |
| Max drawdown (3Y) | -61.3% | -61.2% |
| Market cap | $12.0B | $3.8B |
| P/E (trailing) | – | 213.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DKNG | SRAD |
|---|---|---|
| 2022 | -58.5% | -43.3% |
| 2023 | +209.5% | +10.9% |
| 2024 | +5.5% | +56.9% |
| 2025 | -7.4% | +37.1% |
| 2026 | -29.7% | -46.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DKNG and SRAD good diversifiers for each other?
Reasonably. At 0.49, DKNG and SRAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DKNG and SRAD?
As of 2026-08-27, the correlation of weekly returns between DKNG and SRAD is 0.49 over 3 years, 0.46 over 1 year and 0.50 over 5 years.
Is SRAD a good diversifier for DKNG?
Reasonably. At 0.49, DKNG and SRAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DKNG correlations · SRAD correlations
