EVGO vs KXIN: Correlation
How closely do EVgo Inc. (EVGO) and Kaixin Holdings (KXIN) 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 EVGO and KXIN?
Over the past 3 years, EVGO and KXIN moved with a correlation of 0.42, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.42 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 9725.9 %².
Among the 13 assets we track against EVGO, KXIN ranks #5 by 3-year correlation. The last year tells two different stories: EVGO led by 35.1 percentage points, -64.4% for EVGO against -99.5% for KXIN. Note the risk asymmetry: KXIN runs 3.2 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.
EVGO vs KXIN: side by side
| EVGO (EVgo Inc.) | KXIN (Kaixin Holdings) | |
|---|---|---|
| 1-year return | -64.4% | -99.5% |
| 5-year return | -84.3% | -100.0% |
| Volatility (ann.) | 85.3% | 272.9% |
| Beta vs S&P 500 | 1.93 | 2.71 |
| Max drawdown (3Y) | -84.1% | -100.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVGO | KXIN |
|---|---|---|
| 2022 | -55.0% | -74.3% |
| 2023 | -19.9% | -80.0% |
| 2024 | +13.1% | -97.1% |
| 2025 | -28.1% | -88.6% |
| 2026 | -50.7% | -98.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVGO and KXIN good diversifiers for each other?
Reasonably. At 0.42, EVGO and KXIN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EVGO and KXIN?
The EVGO/KXIN correlation stands at 0.42 on a 3-year window (1 year: 0.11, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is KXIN a good diversifier for EVGO?
Reasonably. At 0.42, EVGO and KXIN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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.
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Related comparisons
Hubs: EVGO correlations · KXIN correlations
