KWEB vs YUMC: Correlation
KraneShares CSI China Internet ETF (KWEB) and Yum China Holdings, Inc. (YUMC) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWEB and YUMC?
Across a 3-year window, the weekly returns of KWEB and YUMC correlate at 0.52, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.52 over 3 years. Stretching to 5 years gives 0.61, with an annualized covariance of 653.0 %².
By 3-year correlation, YUMC places #13 of the 40 assets tracked against KWEB. Correlation aside, the last 12 months split them widely, with YUMC ahead by 28.0 points (-26.1% versus +1.9%).
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 YUMC: side by side
| KWEB (KraneShares CSI China Internet ETF) | YUMC (Yum China Holdings, Inc.) | |
|---|---|---|
| 1-year return | -26.1% | +1.9% |
| 5-year return | -36.2% | -21.2% |
| Volatility (ann.) | 33.9% | 37.2% |
| Beta vs S&P 500 | 0.90 | 0.25 |
| Max drawdown (3Y) | -41.6% | -49.0% |
| Market cap | – | $15.3B |
| P/E (trailing) | – | 16.5 |
| Dividend yield | – | 2.26% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | KWEB | YUMC |
|---|---|---|
| 2022 | -17.2% | +10.8% |
| 2023 | -9.1% | -21.6% |
| 2024 | +12.0% | +15.4% |
| 2025 | +23.5% | +0.1% |
| 2026 | -23.3% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWEB and YUMC good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KWEB and YUMC?
The KWEB/YUMC correlation stands at 0.52 on a 3-year window (1 year: 0.17, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is YUMC a good diversifier for KWEB?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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-yumc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kweb-vs-yumc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KWEB correlations · YUMC correlations
