FIEE vs KWEB: Correlation
How closely do FiEE, Inc (FIEE) and KraneShares CSI China Internet ETF (KWEB) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIEE and KWEB?
Over the past 3 years, FIEE and KWEB moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.07 over 1 year against -0.16 over 3. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -1514.8 %².
Among the 12 assets we track against FIEE, KWEB sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with FIEE ahead by 71.2 points (+45.1% versus -26.1%). Risk is not evenly split, since FIEE carries 8.2 times the volatility of the other side.
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.
FIEE vs KWEB: side by side
| FIEE (FiEE, Inc) | KWEB (KraneShares CSI China Internet ETF) | |
|---|---|---|
| 1-year return | +45.1% | -26.1% |
| 5-year return | -92.3% | -36.2% |
| Volatility (ann.) | 279.4% | 33.9% |
| Beta vs S&P 500 | 0.29 | 0.90 |
| Max drawdown (3Y) | -98.1% | -41.6% |
| Market cap | – | – |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | FIEE | KWEB |
|---|---|---|
| 2022 | -84.8% | -17.2% |
| 2023 | -58.5% | -9.1% |
| 2024 | -88.8% | +12.0% |
| 2025 | +1359.1% | +23.5% |
| 2026 | +28.8% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIEE and KWEB good diversifiers for each other?
Yes. With a correlation of -0.16, FIEE and KWEB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FIEE and KWEB?
As of 2026-08-27, the correlation of weekly returns between FIEE and KWEB is -0.16 over 3 years, -0.07 over 1 year and -0.07 over 5 years.
Is KWEB a good diversifier for FIEE?
Yes. With a correlation of -0.16, FIEE and KWEB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/fiee-vs-kweb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fiee-vs-kweb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FIEE correlations · KWEB correlations
