EHGO vs KWEB: Correlation
How closely do Eshallgo Inc. - Class A (EHGO) and KraneShares CSI China Internet ETF (KWEB) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHGO and KWEB?
On 3 years of weekly data the EHGO/KWEB correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.31) than the 3-year average (-0.20). The 5-year figure is n/a, and annualized covariance runs at -906.8 %².
Within EHGO's tracked universe of 66 assets, KWEB comes in at #30 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KWEB ahead by 64.0 points (-90.1% versus -26.1%). One caveat on sizing: EHGO is 3.8 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.
EHGO vs KWEB: side by side
| EHGO (Eshallgo Inc. - Class A) | KWEB (KraneShares CSI China Internet ETF) | |
|---|---|---|
| 1-year return | -90.1% | -26.1% |
| 5-year return | n/a | -36.2% |
| Volatility (ann.) | 127.9% | 33.9% |
| Beta vs S&P 500 | -1.42 | 0.90 |
| Max drawdown (3Y) | -98.5% | -41.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | EHGO | KWEB |
|---|---|---|
| 2022 | – | -17.2% |
| 2023 | – | -9.1% |
| 2024 | – | +12.0% |
| 2025 | -94.4% | +23.5% |
| 2026 | -65.9% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHGO and KWEB good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between EHGO and KWEB?
The EHGO/KWEB correlation stands at -0.20 on a 3-year window (1 year: -0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is KWEB a good diversifier for EHGO?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/ehgo-vs-kweb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ehgo-vs-kweb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EHGO correlations · KWEB correlations
