KGS vs MMS: Correlation
Measured on weekly returns over the past three years, Kodiak Gas Services, Inc. (KGS) and Maximus, Inc. (MMS) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGS and MMS?
Over the past 3 years, KGS and MMS moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.23). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -253.9 %².
Out of 12 assets tracked against KGS, MMS lands near the bottom at #9. The last year tells two different stories: KGS led by 107.6 percentage points, +76.9% for KGS against -30.7% for MMS.
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 MMS: side by side
| KGS (Kodiak Gas Services, Inc.) | MMS (Maximus, Inc.) | |
|---|---|---|
| 1-year return | +76.9% | -30.7% |
| 5-year return | n/a | -25.0% |
| Volatility (ann.) | 37.1% | 30.4% |
| Beta vs S&P 500 | 0.72 | 0.50 |
| Max drawdown (3Y) | -38.6% | -45.1% |
| Market cap | $6.1B | $3.1B |
| P/E (trailing) | 68.4 | 8.7 |
| Dividend yield | 3.24% | 2.14% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KGS | MMS |
|---|---|---|
| 2022 | – | -6.4% |
| 2023 | – | +16.0% |
| 2024 | +115.2% | -9.7% |
| 2025 | -3.7% | +17.5% |
| 2026 | +64.8% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGS and MMS good diversifiers for each other?
Yes. With a correlation of -0.23, KGS and MMS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KGS and MMS?
As of 2026-08-27, the correlation of weekly returns between KGS and MMS is -0.23 over 3 years, -0.46 over 1 year and n/a over 5 years.
Is MMS a good diversifier for KGS?
Yes. With a correlation of -0.23, KGS and MMS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/kgs-vs-mms.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kgs-vs-mms/)
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Related comparisons
Hubs: KGS correlations · MMS correlations
