GWRS vs KG: Correlation
Measured on weekly returns over the past three years, Global Water Resources, Inc. (GWRS) and Kestrel Group, Ltd. (KG) 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 GWRS and KG?
On 3 years of weekly data the GWRS/KG correlation comes out at 0.35, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 752.3 %².
By 3-year correlation, KG places #6 of the 11 assets tracked against GWRS. Correlation aside, the last 12 months split them widely, with GWRS ahead by 71.2 points (-1.6% versus -72.8%). Risk is not evenly split, since KG carries 2.6 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.
GWRS vs KG: side by side
| GWRS (Global Water Resources, Inc.) | KG (Kestrel Group, Ltd.) | |
|---|---|---|
| 1-year return | -1.6% | -72.8% |
| 5-year return | -47.4% | -87.8% |
| Volatility (ann.) | 28.4% | 75.1% |
| Beta vs S&P 500 | 0.67 | 1.49 |
| Max drawdown (3Y) | -48.4% | -85.0% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 83.4 | – |
| Dividend yield | 3.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GWRS | KG |
|---|---|---|
| 2022 | -20.7% | -31.0% |
| 2023 | +1.0% | +8.5% |
| 2024 | -10.0% | -26.2% |
| 2025 | -24.4% | -69.7% |
| 2026 | +11.3% | -26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWRS and KG good diversifiers for each other?
Reasonably. At 0.35, GWRS and KG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GWRS and KG?
The GWRS/KG correlation stands at 0.35 on a 3-year window (1 year: 0.31, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is KG a good diversifier for GWRS?
Reasonably. At 0.35, GWRS and KG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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/gwrs-vs-kg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gwrs-vs-kg/)
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Related comparisons
Hubs: GWRS correlations · KG correlations
