KOD vs TREE: Correlation
How closely do Kodiak Sciences Inc (KOD) and LendingTree, Inc. (TREE) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOD and TREE?
Over the past 3 years, KOD and TREE moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.48). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 4528.5 %².
By 3-year correlation, TREE places #4 of the 12 assets tracked against KOD. The last year tells two different stories: KOD led by 377.0 percentage points, +318.8% for KOD against -58.2% for TREE. One caveat on sizing: KOD is 1.6 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.
KOD vs TREE: side by side
| KOD (Kodiak Sciences Inc) | TREE (LendingTree, Inc.) | |
|---|---|---|
| 1-year return | +318.8% | -58.2% |
| 5-year return | -59.3% | -83.0% |
| Volatility (ann.) | 123.8% | 76.1% |
| Beta vs S&P 500 | 2.99 | 1.99 |
| Max drawdown (3Y) | -81.1% | -63.0% |
| Market cap | $2.5B | $0.4B |
| P/E (trailing) | – | 2.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KOD | TREE |
|---|---|---|
| 2022 | -91.6% | -82.6% |
| 2023 | -57.5% | +42.1% |
| 2024 | +227.3% | +27.8% |
| 2025 | +181.0% | +37.0% |
| 2026 | +39.9% | -46.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOD and TREE good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KOD and TREE?
As of 2026-08-27, the correlation of weekly returns between KOD and TREE is 0.48 over 3 years, 0.24 over 1 year and 0.41 over 5 years.
Is TREE a good diversifier for KOD?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kod-vs-tree.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kod-vs-tree/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KOD correlations · TREE correlations
