KRG vs PAPL: Correlation
Measured on weekly returns over the past three years, Kite Realty Group Trust (KRG) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KRG and PAPL?
Across a 3-year window, the weekly returns of KRG and PAPL correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -863.4 %².
PAPL is close to the least connected end of KRG's tracked universe, ranking #19 of 21. Correlation aside, the last 12 months split them widely, with KRG ahead by 91.4 points (+20.7% versus -70.7%). One caveat on sizing: PAPL is 8.4 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.
KRG vs PAPL: side by side
| KRG (Kite Realty Group Trust) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +20.7% | -70.7% |
| 5-year return | +61.5% | n/a |
| Volatility (ann.) | 21.6% | 181.2% |
| Beta vs S&P 500 | 0.58 | -0.73 |
| Max drawdown (3Y) | -29.1% | -99.4% |
| Market cap | $5.3B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 4.34% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KRG | PAPL |
|---|---|---|
| 2022 | +0.8% | – |
| 2023 | +13.6% | – |
| 2024 | +15.5% | -74.7% |
| 2025 | -0.2% | -84.4% |
| 2026 | +12.9% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KRG and PAPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between KRG and PAPL?
As of 2026-08-27, the correlation of weekly returns between KRG and PAPL is -0.23 over 3 years, -0.15 over 1 year and n/a over 5 years.
Is PAPL a good diversifier for KRG?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/krg-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/krg-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KRG correlations · PAPL correlations
