KGS vs RETO: Correlation
Measured on weekly returns over the past three years, Kodiak Gas Services, Inc. (KGS) and ReTo Eco-Solutions, Inc. - Class A Shares (RETO) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGS and RETO?
Over the past 3 years, KGS and RETO moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.04) than the 3-year average (-0.32). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -4768.1 %².
Among the 12 assets we track against KGS, RETO sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with KGS ahead by 173.2 points (+76.9% versus -96.3%). Note the risk asymmetry: RETO runs 10.8 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.
KGS vs RETO: side by side
| KGS (Kodiak Gas Services, Inc.) | RETO (ReTo Eco-Solutions, Inc. - Class A Shares) | |
|---|---|---|
| 1-year return | +76.9% | -96.3% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 37.1% | 399.9% |
| Beta vs S&P 500 | 0.72 | -2.83 |
| Max drawdown (3Y) | -38.6% | -99.5% |
| Market cap | $6.1B | – |
| P/E (trailing) | 68.4 | – |
| Dividend yield | 3.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KGS | RETO |
|---|---|---|
| 2022 | – | -75.9% |
| 2023 | – | -99.1% |
| 2024 | +115.2% | -74.9% |
| 2025 | -3.7% | -57.1% |
| 2026 | +64.8% | -81.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGS and RETO good diversifiers for each other?
Yes. With a correlation of -0.32, KGS and RETO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KGS and RETO?
As of 2026-08-27, the correlation of weekly returns between KGS and RETO is -0.32 over 3 years, 0.04 over 1 year and n/a over 5 years.
Is RETO a good diversifier for KGS?
Yes. With a correlation of -0.32, KGS and RETO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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-reto.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kgs-vs-reto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KGS correlations · RETO correlations
