FIS vs KD: Correlation
Measured on weekly returns over the past three years, Fidelity National Information Services (FIS) and Kyndryl Holdings, Inc. (KD) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIS and KD?
On 3 years of weekly data the FIS/KD correlation comes out at 0.47, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.47 over 3 years. The 5-year figure is 0.43, and annualized covariance runs at 687.1 %².
Within FIS's tracked universe of 33 assets, KD comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FIS ahead by 18.0 points (-40.0% versus -58.0%). One caveat on sizing: KD is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FIS vs KD: side by side
| FIS (Fidelity National Information Services) | KD (Kyndryl Holdings, Inc.) | |
|---|---|---|
| 1-year return | -40.0% | -58.0% |
| 5-year return | -63.9% | -67.5% |
| Volatility (ann.) | 27.2% | 53.4% |
| Beta vs S&P 500 | 0.57 | 1.59 |
| Max drawdown (3Y) | -56.5% | -75.6% |
| Market cap | $20.9B | $2.9B |
| P/E (trailing) | 6.2 | 34.0 |
| Dividend yield | 4.13% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FIS | KD |
|---|---|---|
| 2022 | -36.5% | -38.6% |
| 2023 | -8.2% | +86.9% |
| 2024 | +37.0% | +66.5% |
| 2025 | -15.8% | -23.2% |
| 2026 | -37.8% | -50.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIS and KD good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FIS and KD?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.63 over the last year and 0.43 over 5 years.
Is KD a good diversifier for FIS?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fis-vs-kd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fis-vs-kd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FIS correlations · KD correlations
