KGS vs KNTK: Correlation
Measured on weekly returns over the past three years, Kodiak Gas Services, Inc. (KGS) and Kinetik Holdings Inc. (KNTK) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGS and KNTK?
Across a 3-year window, the weekly returns of KGS and KNTK correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 707.4 %².
KNTK is one of the assets that tracks KGS most closely: it ranks #3 out of the 12 assets we track against KGS. Their recent paths diverged sharply: over the last 12 months KGS outperformed by 37.3 percentage points (+76.9% for KGS against +39.6% for KNTK).
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.
KGS vs KNTK: side by side
| KGS (Kodiak Gas Services, Inc.) | KNTK (Kinetik Holdings Inc.) | |
|---|---|---|
| 1-year return | +76.9% | +39.6% |
| 5-year return | n/a | +147.1% |
| Volatility (ann.) | 37.1% | 33.1% |
| Beta vs S&P 500 | 0.72 | 0.63 |
| Max drawdown (3Y) | -38.6% | -49.0% |
| Market cap | $6.1B | $9.2B |
| P/E (trailing) | 68.4 | 19.3 |
| Dividend yield | 3.24% | 5.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KGS | KNTK |
|---|---|---|
| 2022 | – | +14.6% |
| 2023 | – | +10.9% |
| 2024 | +115.2% | +83.1% |
| 2025 | -3.7% | -31.9% |
| 2026 | +64.8% | +59.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGS and KNTK good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KGS and KNTK?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.55 over the last year and n/a over 5 years.
Is KNTK a good diversifier for KGS?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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.
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Related comparisons
Hubs: KGS correlations · KNTK correlations
