KWEB vs PUK: Correlation
How closely do KraneShares CSI China Internet ETF (KWEB) and Prudential Public Limited Company (PUK) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWEB and PUK?
On 3 years of weekly data the KWEB/PUK correlation comes out at 0.55, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.55). The 5-year figure is 0.54, and annualized covariance runs at 522.8 %².
Within KWEB's tracked universe of 40 assets, PUK comes in at #10 by 3-year correlation. The last year tells two different stories: PUK led by 35.3 percentage points, -26.1% for KWEB against +9.2% for PUK.
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 PUK: side by side
| KWEB (KraneShares CSI China Internet ETF) | PUK (Prudential Public Limited Company) | |
|---|---|---|
| 1-year return | -26.1% | +9.2% |
| 5-year return | -36.2% | -26.0% |
| Volatility (ann.) | 33.9% | 28.0% |
| Beta vs S&P 500 | 0.90 | 0.87 |
| Max drawdown (3Y) | -41.6% | -41.8% |
| Market cap | – | $34.4B |
| P/E (trailing) | – | 9.9 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | KWEB | PUK |
|---|---|---|
| 2022 | -17.2% | -19.1% |
| 2023 | -9.1% | -17.0% |
| 2024 | +12.0% | -27.3% |
| 2025 | +23.5% | +99.3% |
| 2026 | -23.3% | -9.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWEB and PUK good diversifiers for each other?
Only partially. A correlation of 0.55 means KWEB and PUK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between KWEB and PUK?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.41 over the last year and 0.54 over 5 years.
Is PUK a good diversifier for KWEB?
Only partially. A correlation of 0.55 means KWEB and PUK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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-puk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kweb-vs-puk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KWEB correlations · PUK correlations
