HKIT vs KREF: Correlation
Hitek Global Inc. - Class A (HKIT) and KKR Real Estate Finance Trust Inc. (KREF) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HKIT and KREF?
Over the past 3 years, HKIT and KREF moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.30). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2273.1 %².
KREF is close to the least connected end of HKIT's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months KREF outperformed by 89.9 percentage points (-99.9% for HKIT against -10.0% for KREF). Note the risk asymmetry: HKIT runs 7.2 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.
HKIT vs KREF: side by side
| HKIT (Hitek Global Inc. - Class A) | KREF (KKR Real Estate Finance Trust Inc.) | |
|---|---|---|
| 1-year return | -99.9% | -10.0% |
| 5-year return | n/a | -38.4% |
| Volatility (ann.) | 233.1% | 32.2% |
| Beta vs S&P 500 | 1.70 | 0.66 |
| Max drawdown (3Y) | -100.0% | -44.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 11.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HKIT | KREF |
|---|---|---|
| 2022 | – | -25.9% |
| 2023 | – | +9.2% |
| 2024 | +36.2% | -15.8% |
| 2025 | +55.9% | -9.3% |
| 2026 | -100.0% | -2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HKIT and KREF good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between HKIT and KREF?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.07 over the last year and n/a over 5 years.
Is KREF a good diversifier for HKIT?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/hkit-vs-kref.json
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Related comparisons
Hubs: HKIT correlations · KREF correlations
