EQIX vs KEQU: Correlation
How closely do Equinix (EQIX) and Kewaunee Scientific Corporation (KEQU) 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 EQIX and KEQU?
Across a 3-year window, the weekly returns of EQIX and KEQU correlate at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.14 over 1 year against -0.20 over 3. Stretching to 5 years gives -0.15, with an annualized covariance of -293.4 %².
Out of 30 assets tracked against EQIX, KEQU lands near the bottom at #27. Correlation aside, the last 12 months split them widely, with EQIX ahead by 71.1 points (+39.1% versus -32.0%). Note the risk asymmetry: KEQU runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EQIX vs KEQU: side by side
| EQIX (Equinix) | KEQU (Kewaunee Scientific Corporation) | |
|---|---|---|
| 1-year return | +39.1% | -32.0% |
| 5-year return | +41.6% | +186.6% |
| Volatility (ann.) | 24.4% | 61.0% |
| Beta vs S&P 500 | 0.63 | 0.69 |
| Max drawdown (3Y) | -24.6% | -55.4% |
| Market cap | $106.2B | $0.1B |
| P/E (trailing) | 69.4 | 11.8 |
| Dividend yield | 1.82% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | EQIX | KEQU |
|---|---|---|
| 2022 | -21.1% | +25.6% |
| 2023 | +25.4% | +82.3% |
| 2024 | +19.5% | +112.8% |
| 2025 | -16.9% | -39.5% |
| 2026 | +42.6% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and KEQU good diversifiers for each other?
Yes. With a correlation of -0.20, EQIX and KEQU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EQIX and KEQU?
The EQIX/KEQU correlation stands at -0.20 on a 3-year window (1 year: -0.14, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is KEQU a good diversifier for EQIX?
Yes. With a correlation of -0.20, EQIX and KEQU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/eqix-vs-kequ.json
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Related comparisons
Hubs: EQIX correlations · KEQU correlations
