KYNB vs SHLS: Correlation
Kyntra Bio, Inc. (KYNB) and Shoals Technologies Group, Inc. (SHLS) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KYNB and SHLS?
Over the past 3 years, KYNB and SHLS moved with a correlation of 0.40, which is moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.40). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 3729.0 %².
Few assets follow KYNB as closely as SHLS, which ranks #3 of 10 tracked partners. The last year tells two different stories: SHLS led by 37.9 percentage points, -23.7% for KYNB against +14.2% for SHLS. Risk is not evenly split, since KYNB carries 1.7 times the volatility of the other side.
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.
KYNB vs SHLS: side by side
| KYNB (Kyntra Bio, Inc.) | SHLS (Shoals Technologies Group, Inc.) | |
|---|---|---|
| 1-year return | -23.7% | +14.2% |
| 5-year return | -97.2% | -76.8% |
| Volatility (ann.) | 123.9% | 75.0% |
| Beta vs S&P 500 | 1.81 | 1.02 |
| Max drawdown (3Y) | -92.4% | -87.3% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 39.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KYNB | SHLS |
|---|---|---|
| 2022 | +13.6% | +1.5% |
| 2023 | -94.5% | -37.0% |
| 2024 | -40.2% | -64.4% |
| 2025 | -33.7% | +53.7% |
| 2026 | -8.9% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KYNB and SHLS good diversifiers for each other?
Reasonably. At 0.40, KYNB and SHLS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KYNB and SHLS?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.26 over the last year and 0.24 over 5 years.
Is SHLS a good diversifier for KYNB?
Reasonably. At 0.40, KYNB and SHLS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/kynb-vs-shls.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kynb-vs-shls/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KYNB correlations · SHLS correlations
