GILT vs KNDI: Correlation
Measured on weekly returns over the past three years, Gilat Satellite Networks Ltd. (GILT) and Kandi Technologies Group, Inc. (KNDI) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GILT and KNDI?
Over the past 3 years, GILT and KNDI moved with a correlation of 0.35, which is moderate. The past 12 months show a tighter link (0.62) than the 3-year average (0.35). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 1006.0 %².
KNDI is close to the least connected end of GILT's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with GILT ahead by 62.1 points (+5.5% versus -56.6%).
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.
GILT vs KNDI: side by side
| GILT (Gilat Satellite Networks Ltd.) | KNDI (Kandi Technologies Group, Inc.) | |
|---|---|---|
| 1-year return | +5.5% | -56.6% |
| 5-year return | +4.3% | -87.2% |
| Volatility (ann.) | 50.6% | 56.6% |
| Beta vs S&P 500 | 1.53 | 0.56 |
| Max drawdown (3Y) | -52.3% | -83.3% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | 23.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GILT | KNDI |
|---|---|---|
| 2022 | -18.0% | -28.3% |
| 2023 | +5.3% | +21.7% |
| 2024 | +0.7% | -57.1% |
| 2025 | +110.4% | -34.2% |
| 2026 | -19.9% | -19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GILT and KNDI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GILT and KNDI?
The GILT/KNDI correlation stands at 0.35 on a 3-year window (1 year: 0.62, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is KNDI a good diversifier for GILT?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/gilt-vs-kndi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gilt-vs-kndi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GILT correlations · KNDI correlations
