KSPI vs UBS: Correlation
Joint Stock Company Kaspi.kz - American Depository Shares (KSPI) and UBS Group AG Registered (UBS) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KSPI and UBS?
On 3 years of weekly data the KSPI/UBS correlation comes out at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 476.0 %².
Among the 13 assets we track against KSPI, UBS ranks #5 by 3-year correlation. The last year tells two different stories: UBS led by 20.3 percentage points, +18.6% for KSPI against +38.9% for UBS.
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.
KSPI vs UBS: side by side
| KSPI (Joint Stock Company Kaspi.kz - American Depository Shares) | UBS (UBS Group AG Registered) | |
|---|---|---|
| 1-year return | +18.6% | +38.9% |
| 5-year return | n/a | +273.9% |
| Volatility (ann.) | 39.5% | 27.9% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -48.9% | -27.0% |
| Market cap | $20.0B | $166.4B |
| P/E (trailing) | 9.1 | 18.6 |
| Dividend yield | 0.00% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KSPI | UBS |
|---|---|---|
| 2022 | – | +7.4% |
| 2023 | – | +69.9% |
| 2024 | – | +0.7% |
| 2025 | -17.5% | +57.7% |
| 2026 | +40.4% | +20.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KSPI and UBS good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KSPI and UBS?
As of 2026-08-27, the correlation of weekly returns between KSPI and UBS is 0.42 over 3 years, 0.34 over 1 year and n/a over 5 years.
Is UBS a good diversifier for KSPI?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kspi-vs-ubs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kspi-vs-ubs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KSPI correlations · UBS correlations
