KKR vs LICN: Correlation
How closely do KKR & Co. (KKR) and Lichen International Limited - Class A (LICN) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KKR and LICN?
On 3 years of weekly data the KKR/LICN correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.26) runs above the 3-year figure (-0.23). The 5-year figure is n/a, and annualized covariance runs at -75589.9 %².
LICN is close to the least connected end of KKR's tracked universe, ranking #33 of 37. Their recent paths diverged sharply: over the last 12 months KKR outperformed by 53.1 percentage points (-21.6% for KKR against -74.7% for LICN). Risk is not evenly split, since LICN carries 225.6 times the volatility of the other side.
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.
KKR vs LICN: side by side
| KKR (KKR & Co.) | LICN (Lichen International Limited - Class A) | |
|---|---|---|
| 1-year return | -21.6% | -74.7% |
| 5-year return | +77.3% | n/a |
| Volatility (ann.) | 37.8% | 8528.0% |
| Beta vs S&P 500 | 1.76 | -80.22 |
| Max drawdown (3Y) | -49.4% | -98.4% |
| Market cap | $101.0B | – |
| P/E (trailing) | 34.7 | – |
| Dividend yield | 0.70% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | KKR | LICN |
|---|---|---|
| 2022 | -37.0% | – |
| 2023 | +80.5% | – |
| 2024 | +79.6% | -91.0% |
| 2025 | -13.3% | +1484.3% |
| 2026 | -13.8% | -56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KKR and LICN good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KKR and LICN?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.26 over the last year and n/a over 5 years.
Is LICN a good diversifier for KKR?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/kkr-vs-licn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kkr-vs-licn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KKR correlations · LICN correlations
