DTM vs KGS: Correlation
DT Midstream, Inc. (DTM) and Kodiak Gas Services, Inc. (KGS) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTM and KGS?
On 3 years of weekly data the DTM/KGS correlation comes out at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.58). The 5-year figure is n/a, and annualized covariance runs at 511.7 %².
Within DTM's tracked universe of 17 assets, KGS comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KGS outperformed by 44.0 percentage points (+32.9% for DTM against +76.9% for KGS). One caveat on sizing: KGS 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.
DTM vs KGS: side by side
| DTM (DT Midstream, Inc.) | KGS (Kodiak Gas Services, Inc.) | |
|---|---|---|
| 1-year return | +32.9% | +76.9% |
| 5-year return | +248.3% | n/a |
| Volatility (ann.) | 23.9% | 37.1% |
| Beta vs S&P 500 | 0.42 | 0.72 |
| Max drawdown (3Y) | -23.6% | -38.6% |
| Market cap | $13.4B | $6.1B |
| P/E (trailing) | 29.1 | 68.4 |
| Dividend yield | 2.57% | 3.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTM | KGS |
|---|---|---|
| 2022 | +20.7% | – |
| 2023 | +4.7% | – |
| 2024 | +88.9% | +115.2% |
| 2025 | +24.1% | -3.7% |
| 2026 | +11.4% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTM and KGS good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DTM and KGS?
The DTM/KGS correlation stands at 0.58 on a 3-year window (1 year: 0.44, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is KGS a good diversifier for DTM?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dtm-vs-kgs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dtm-vs-kgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DTM correlations · KGS correlations
