KNDI vs KWEB: Correlation
How closely do Kandi Technologies Group, Inc. (KNDI) and KraneShares CSI China Internet ETF (KWEB) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KNDI and KWEB?
Across a 3-year window, the weekly returns of KNDI and KWEB correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 697.7 %².
In KNDI's tracked universe of 10 assets, KWEB sits right near the top at #2. The last year tells two different stories: KWEB led by 30.5 percentage points, -56.6% for KNDI against -26.1% for KWEB. One caveat on sizing: KNDI is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
KNDI vs KWEB: side by side
| KNDI (Kandi Technologies Group, Inc.) | KWEB (KraneShares CSI China Internet ETF) | |
|---|---|---|
| 1-year return | -56.6% | -26.1% |
| 5-year return | -87.2% | -36.2% |
| Volatility (ann.) | 56.6% | 33.9% |
| Beta vs S&P 500 | 0.56 | 0.90 |
| Max drawdown (3Y) | -83.3% | -41.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | KNDI | KWEB |
|---|---|---|
| 2022 | -28.3% | -17.2% |
| 2023 | +21.7% | -9.1% |
| 2024 | -57.1% | +12.0% |
| 2025 | -34.2% | +23.5% |
| 2026 | -19.2% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNDI and KWEB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KNDI and KWEB?
The KNDI/KWEB correlation stands at 0.36 on a 3-year window (1 year: 0.32, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is KWEB a good diversifier for KNDI?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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/kndi-vs-kweb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kndi-vs-kweb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KNDI correlations · KWEB correlations
