ENLT vs KEN: Correlation
Measured on weekly returns over the past three years, Enlight Renewable Energy Ltd. (ENLT) and Kenon Holdings Ltd. (KEN) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENLT and KEN?
Across a 3-year window, the weekly returns of ENLT and KEN correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of 925.1 %².
In ENLT's tracked universe of 13 assets, KEN sits right near the top at #1. The last year tells two different stories: ENLT led by 129.8 percentage points, +188.8% for ENLT against +59.0% for KEN.
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.
ENLT vs KEN: side by side
| ENLT (Enlight Renewable Energy Ltd.) | KEN (Kenon Holdings Ltd.) | |
|---|---|---|
| 1-year return | +188.8% | +59.0% |
| 5-year return | n/a | +294.3% |
| Volatility (ann.) | 42.0% | 37.7% |
| Beta vs S&P 500 | 0.88 | 0.72 |
| Max drawdown (3Y) | -27.7% | -33.2% |
| Market cap | $11.3B | – |
| P/E (trailing) | 127.9 | 43.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENLT | KEN |
|---|---|---|
| 2022 | – | -11.7% |
| 2023 | – | -18.2% |
| 2024 | -9.9% | +67.6% |
| 2025 | +163.6% | +126.2% |
| 2026 | +77.2% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENLT and KEN good diversifiers for each other?
Only partially. A correlation of 0.58 means ENLT and KEN 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 ENLT and KEN?
As of 2026-08-27, the correlation of weekly returns between ENLT and KEN is 0.58 over 3 years, 0.65 over 1 year and -0.03 over 5 years.
Is KEN a good diversifier for ENLT?
Only partially. A correlation of 0.58 means ENLT and KEN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 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/enlt-vs-ken.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/enlt-vs-ken/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENLT correlations · KEN correlations
