KREF vs RPID: Correlation
Measured on weekly returns over the past three years, KKR Real Estate Finance Trust Inc. (KREF) and Rapid Micro Biosystems, Inc. (RPID) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KREF and RPID?
On 3 years of weekly data the KREF/RPID correlation comes out at 0.33, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 916.9 %².
By 3-year correlation, RPID places #7 of the 13 assets tracked against KREF. The last year tells two different stories: KREF led by 27.1 percentage points, -10.0% for KREF against -37.1% for RPID. Note the risk asymmetry: RPID runs 2.7 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 RPID: side by side
| KREF (KKR Real Estate Finance Trust Inc.) | RPID (Rapid Micro Biosystems, Inc.) | |
|---|---|---|
| 1-year return | -10.0% | -37.1% |
| 5-year return | -38.4% | -92.2% |
| Volatility (ann.) | 32.2% | 85.8% |
| Beta vs S&P 500 | 0.66 | 0.88 |
| Max drawdown (3Y) | -44.9% | -66.9% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 11.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KREF | RPID |
|---|---|---|
| 2022 | -25.9% | -89.4% |
| 2023 | +9.2% | -34.5% |
| 2024 | -15.8% | +21.6% |
| 2025 | -9.3% | +222.2% |
| 2026 | -2.2% | -44.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KREF and RPID good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KREF and RPID?
As of 2026-08-27, the correlation of weekly returns between KREF and RPID is 0.33 over 3 years, 0.35 over 1 year and 0.29 over 5 years.
Is RPID a good diversifier for KREF?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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/kref-vs-rpid.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kref-vs-rpid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KREF correlations · RPID correlations
