ESLT vs KTOS: Correlation
Measured on weekly returns over the past three years, Elbit Systems Ltd. (ESLT) and Kratos Defense & Security Solutions, Inc. (KTOS) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESLT and KTOS?
On 3 years of weekly data the ESLT/KTOS correlation comes out at 0.43, moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.43). The 5-year figure is 0.38, and annualized covariance runs at 937.3 %².
Few assets follow ESLT as closely as KTOS, which ranks #3 of 13 tracked partners. The last year tells two different stories: ESLT led by 69.5 percentage points, +48.5% for ESLT against -21.0% for KTOS. Note the risk asymmetry: KTOS runs 1.6 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.
ESLT vs KTOS: side by side
| ESLT (Elbit Systems Ltd.) | KTOS (Kratos Defense & Security Solutions, Inc.) | |
|---|---|---|
| 1-year return | +48.5% | -21.0% |
| 5-year return | +410.2% | +117.5% |
| Volatility (ann.) | 36.5% | 59.9% |
| Beta vs S&P 500 | 0.26 | 1.62 |
| Max drawdown (3Y) | -29.3% | -66.4% |
| Market cap | $33.7B | $10.1B |
| P/E (trailing) | 54.4 | 315.8 |
| Dividend yield | 0.52% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESLT | KTOS |
|---|---|---|
| 2022 | -4.8% | -46.8% |
| 2023 | +31.3% | +96.6% |
| 2024 | +22.2% | +30.0% |
| 2025 | +125.1% | +187.8% |
| 2026 | +24.7% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESLT and KTOS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ESLT and KTOS?
As of 2026-08-27, the correlation of weekly returns between ESLT and KTOS is 0.43 over 3 years, 0.57 over 1 year and 0.38 over 5 years.
Is KTOS a good diversifier for ESLT?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eslt-vs-ktos.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eslt-vs-ktos/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESLT correlations · KTOS correlations
