KREF vs LADR: Correlation
Measured on weekly returns over the past three years, KKR Real Estate Finance Trust Inc. (KREF) and Ladder Capital Corp (LADR) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KREF and LADR?
On 3 years of weekly data the KREF/LADR correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.55 over 1 year against 0.64 over 3. The 5-year figure is 0.68, and annualized covariance runs at 396.0 %².
LADR is one of the assets that tracks KREF most closely: it ranks #1 out of the 13 assets we track against KREF. Their 12-month results are close: -10.0% for KREF against -6.7% for LADR. Note the risk asymmetry: KREF runs 1.7 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.
KREF vs LADR: side by side
| KREF (KKR Real Estate Finance Trust Inc.) | LADR (Ladder Capital Corp) | |
|---|---|---|
| 1-year return | -10.0% | -6.7% |
| 5-year return | -38.4% | +32.1% |
| Volatility (ann.) | 32.2% | 19.1% |
| Beta vs S&P 500 | 0.66 | 0.50 |
| Max drawdown (3Y) | -44.9% | -15.3% |
| Market cap | $0.5B | $1.2B |
| P/E (trailing) | – | 23.4 |
| Dividend yield | 11.26% | 9.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KREF | LADR |
|---|---|---|
| 2022 | -25.9% | -9.0% |
| 2023 | +9.2% | +25.2% |
| 2024 | -15.8% | +5.5% |
| 2025 | -9.3% | +6.7% |
| 2026 | -2.2% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KREF and LADR good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between KREF and LADR?
As of 2026-08-27, the correlation of weekly returns between KREF and LADR is 0.64 over 3 years, 0.55 over 1 year and 0.68 over 5 years.
Is LADR a good diversifier for KREF?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
A reading of 0.64 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/kref-vs-ladr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kref-vs-ladr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KREF correlations · LADR correlations
