KWEB vs LVS: Correlation
Measured on weekly returns over the past three years, KraneShares CSI China Internet ETF (KWEB) and Las Vegas Sands (LVS) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWEB and LVS?
Across a 3-year window, the weekly returns of KWEB and LVS correlate at 0.44, moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.44). Stretching to 5 years gives 0.49, with an annualized covariance of 523.8 %².
By 3-year correlation, LVS places #19 of the 40 assets tracked against KWEB. On 12-month performance LVS holds a 5.8-point edge, -26.1% against -20.3%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.18 to 0.69.
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.
KWEB vs LVS: side by side
| KWEB (KraneShares CSI China Internet ETF) | LVS (Las Vegas Sands) | |
|---|---|---|
| 1-year return | -26.1% | -20.3% |
| 5-year return | -36.2% | +8.5% |
| Volatility (ann.) | 33.9% | 34.8% |
| Beta vs S&P 500 | 0.90 | 0.75 |
| Max drawdown (3Y) | -41.6% | -44.0% |
| Market cap | – | $28.7B |
| P/E (trailing) | – | 17.1 |
| Dividend yield | – | 2.49% |
| Sector / category | ETF · Thematic | Consumer Discretionary |
Year-by-year returns
| Year | KWEB | LVS |
|---|---|---|
| 2022 | -17.2% | +27.7% |
| 2023 | -9.1% | +3.1% |
| 2024 | +12.0% | +6.2% |
| 2025 | +23.5% | +29.5% |
| 2026 | -23.3% | -30.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWEB and LVS good diversifiers for each other?
Reasonably. At 0.44, KWEB and LVS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KWEB and LVS?
The KWEB/LVS correlation stands at 0.44 on a 3-year window (1 year: 0.27, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is LVS a good diversifier for KWEB?
Reasonably. At 0.44, KWEB and LVS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/kweb-vs-lvs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kweb-vs-lvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KWEB correlations · LVS correlations
