EQH vs KSPI: Correlation
How closely do Equitable Holdings, Inc. (EQH) and Joint Stock Company Kaspi.kz - American Depository Shares (KSPI) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQH and KSPI?
Over the past 3 years, EQH and KSPI moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.42 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 460.6 %².
KSPI is close to the least connected end of EQH's tracked universe, ranking #16 of 20. Correlation aside, the last 12 months split them widely, with KSPI ahead by 22.8 points (-4.2% versus +18.6%).
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.
EQH vs KSPI: side by side
| EQH (Equitable Holdings, Inc.) | KSPI (Joint Stock Company Kaspi.kz - American Depository Shares) | |
|---|---|---|
| 1-year return | -4.2% | +18.6% |
| 5-year return | +83.5% | n/a |
| Volatility (ann.) | 27.3% | 39.5% |
| Beta vs S&P 500 | 1.19 | 1.08 |
| Max drawdown (3Y) | -35.8% | -48.9% |
| Market cap | $13.7B | $20.0B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 2.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQH | KSPI |
|---|---|---|
| 2022 | -10.2% | – |
| 2023 | +19.6% | – |
| 2024 | +45.0% | – |
| 2025 | +3.2% | -17.5% |
| 2026 | +7.4% | +40.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQH and KSPI good diversifiers for each other?
Reasonably. At 0.42, EQH and KSPI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EQH and KSPI?
As of 2026-08-27, the correlation of weekly returns between EQH and KSPI is 0.42 over 3 years, 0.46 over 1 year and n/a over 5 years.
Is KSPI a good diversifier for EQH?
Reasonably. At 0.42, EQH and KSPI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/eqh-vs-kspi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqh-vs-kspi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQH correlations · KSPI correlations
