EFXT vs KGS: Correlation
How closely do Enerflex Ltd (EFXT) and Kodiak Gas Services, Inc. (KGS) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFXT and KGS?
Across a 3-year window, the weekly returns of EFXT and KGS correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.51 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 853.3 %².
In EFXT's tracked universe of 10 assets, KGS sits right near the top at #2. The last year tells two different stories: EFXT led by 36.8 percentage points, +113.7% for EFXT against +76.9% for KGS.
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.
EFXT vs KGS: side by side
| EFXT (Enerflex Ltd) | KGS (Kodiak Gas Services, Inc.) | |
|---|---|---|
| 1-year return | +113.7% | +76.9% |
| 5-year return | +257.3% | n/a |
| Volatility (ann.) | 44.8% | 37.1% |
| Beta vs S&P 500 | 0.65 | 0.72 |
| Max drawdown (3Y) | -38.6% | -38.6% |
| Market cap | $2.5B | $6.1B |
| P/E (trailing) | 45.2 | 68.4 |
| Dividend yield | 0.61% | 3.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFXT | KGS |
|---|---|---|
| 2022 | +5.8% | – |
| 2023 | -25.1% | – |
| 2024 | +115.8% | +115.2% |
| 2025 | +56.2% | -3.7% |
| 2026 | +35.3% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFXT and KGS good diversifiers for each other?
To a limited degree. At 0.51 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 EFXT and KGS?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.42 over the last year and n/a over 5 years.
Is KGS a good diversifier for EFXT?
To a limited degree. At 0.51 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 0.51 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/efxt-vs-kgs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efxt-vs-kgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EFXT correlations · KGS correlations
