KWEB vs RIO: Correlation
Measured on weekly returns over the past three years, KraneShares CSI China Internet ETF (KWEB) and Rio Tinto Plc (RIO) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWEB and RIO?
On 3 years of weekly data the KWEB/RIO correlation comes out at 0.50, moderate. The past 12 months show a weaker link (0.33) than the 3-year average (0.50). The 5-year figure is 0.50, and annualized covariance runs at 424.2 %².
Within KWEB's tracked universe of 40 assets, RIO comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RIO ahead by 103.3 points (-26.1% versus +77.2%).
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 RIO: side by side
| KWEB (KraneShares CSI China Internet ETF) | RIO (Rio Tinto Plc) | |
|---|---|---|
| 1-year return | -26.1% | +77.2% |
| 5-year return | -36.2% | +94.8% |
| Volatility (ann.) | 33.9% | 25.1% |
| Beta vs S&P 500 | 0.90 | 0.70 |
| Max drawdown (3Y) | -41.6% | -24.2% |
| Market cap | – | $170.4B |
| P/E (trailing) | – | 14.2 |
| Dividend yield | – | 4.44% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | KWEB | RIO |
|---|---|---|
| 2022 | -17.2% | +18.5% |
| 2023 | -9.1% | +11.1% |
| 2024 | +12.0% | -15.4% |
| 2025 | +23.5% | +44.5% |
| 2026 | -23.3% | +37.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWEB and RIO good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KWEB and RIO?
As of 2026-08-27, the correlation of weekly returns between KWEB and RIO is 0.50 over 3 years, 0.33 over 1 year and 0.50 over 5 years.
Is RIO a good diversifier for KWEB?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kweb-vs-rio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kweb-vs-rio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KWEB correlations · RIO correlations
