KD vs UPWK: Correlation
Kyndryl Holdings, Inc. (KD) and Upwork Inc. (UPWK) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KD and UPWK?
On 3 years of weekly data the KD/UPWK correlation comes out at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.49 over 3 years. The 5-year figure is 0.43, and annualized covariance runs at 1327.3 %².
Within KD's tracked universe of 27 assets, UPWK comes in at #12 by 3-year correlation. The last year tells two different stories: UPWK led by 18.3 percentage points, -58.0% for KD against -39.7% for UPWK.
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.
KD vs UPWK: side by side
| KD (Kyndryl Holdings, Inc.) | UPWK (Upwork Inc.) | |
|---|---|---|
| 1-year return | -58.0% | -39.7% |
| 5-year return | -67.5% | -79.8% |
| Volatility (ann.) | 53.4% | 51.1% |
| Beta vs S&P 500 | 1.59 | 1.34 |
| Max drawdown (3Y) | -75.6% | -64.5% |
| Market cap | $2.9B | $1.1B |
| P/E (trailing) | 34.0 | 11.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KD | UPWK |
|---|---|---|
| 2022 | -38.6% | -69.4% |
| 2023 | +86.9% | +42.4% |
| 2024 | +66.5% | +10.0% |
| 2025 | -23.2% | +21.2% |
| 2026 | -50.1% | -55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KD and UPWK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KD and UPWK?
As of 2026-08-27, the correlation of weekly returns between KD and UPWK is 0.49 over 3 years, 0.63 over 1 year and 0.43 over 5 years.
Is UPWK a good diversifier for KD?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/kd-vs-upwk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kd-vs-upwk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KD correlations · UPWK correlations
