KOS vs SHY: Correlation
How closely do Kosmos Energy Ltd. (KOS) and iShares 1-3 Year Treasury Bond ETF (SHY) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOS and SHY?
Across a 3-year window, the weekly returns of KOS and SHY correlate at -0.28, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -29.3 %².
SHY is close to the least connected end of KOS's tracked universe, ranking #13 of 13. Correlation aside, the last 12 months split them widely, with KOS ahead by 54.3 points (+56.8% versus +2.5%). One caveat on sizing: KOS is 42.2 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.
KOS vs SHY: side by side
| KOS (Kosmos Energy Ltd.) | SHY (iShares 1-3 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +56.8% | +2.5% |
| 5-year return | +24.8% | +9.6% |
| Volatility (ann.) | 67.5% | 1.6% |
| Beta vs S&P 500 | 0.59 | 0.00 |
| Max drawdown (3Y) | -89.4% | -1.0% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.65% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.1B |
| Sector / category | US Listed | ETF · Bonds |
SHY, iShares's Short Government fund, carries $25.1B under management, a 0.15% expense ratio, a 3.65% trailing dividend yield.
Year-by-year returns
| Year | KOS | SHY |
|---|---|---|
| 2022 | +83.8% | -3.9% |
| 2023 | +5.5% | +4.2% |
| 2024 | -49.0% | +3.9% |
| 2025 | -73.4% | +5.0% |
| 2026 | +215.4% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOS and SHY good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KOS and SHY?
The KOS/SHY correlation stands at -0.28 on a 3-year window (1 year: -0.38, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is SHY a good diversifier for KOS?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/kos-vs-shy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kos-vs-shy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KOS correlations · SHY correlations
