Roud gives both Kilbogie and Glasgow Peggy the same number.

In the liner notes, Jean Redpath says:
Greig and Keith, in a note on "Kilboggie , or MacDonald o' the Isles," attempt to explain the relationship to "Glasgow Peggy" (Child 228) thus : "There is an estate and mansion-house of Kilbagie (also called Kilboggie) in the parish of Clackmannan, and it is at least a remarkable coincidence that the daughter of Forrester of Kilboggie married MacDonald of Keppoch in Lochaber in the first half of the 17th century (MacDonald dying in 1650). The conjecture may be made that the circumstances of the wedding suggested to someone a resemblance to the story in the already existing ballad of "Glasgow Peggy" and led to the composition of another modelled on the older one.”

Greig/Duncan quoting Duncan:
"It is not easy to settle the exact relation between this ballad and 'Glasgow Peggy'; but that there is a connection is clear enough. The plot and development of the story are the same; the names of Peggy and Macdonald are in both; some stanzas in the later part of this ballad are either modelled on 'Glasgow Peggy' or taken from it (9,10,13,14); and, to complete the connection, the tune is the same. Yet the greater part of the fifteen stanzas are quite different in matter from any version of 'Glasgow Peggy', and the name Kilboggie or Kilbagie is not found in any form of [Peggy].”