AEP vs APO: Correlation
American Electric Power (AEP) and Apollo Global Management (APO) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and APO?
Across a 3-year window, the weekly returns of AEP and APO correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.52 versus -0.23 over 3 years. Stretching to 5 years gives 0.00, with an annualized covariance of -160.7 %².
Among the 36 assets we track against AEP, APO ranks #25 by 3-year correlation. The trailing year gives AEP the advantage: +12.1% versus -0.1%, a 12.2-point spread. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.60 to 0.23. One caveat on sizing: APO is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AEP vs APO: side by side
| AEP (American Electric Power) | APO (Apollo Global Management) | |
|---|---|---|
| 1-year return | +12.1% | -0.1% |
| 5-year return | +63.9% | +149.7% |
| Volatility (ann.) | 18.9% | 36.8% |
| Beta vs S&P 500 | -0.01 | 1.62 |
| Max drawdown (3Y) | -13.1% | -42.8% |
| Market cap | $66.8B | $78.8B |
| P/E (trailing) | 21.4 | 47.5 |
| Dividend yield | 3.06% | 1.60% |
| Sector / category | Utilities | Financials |
Year-by-year returns
| Year | AEP | APO |
|---|---|---|
| 2022 | +10.4% | -9.6% |
| 2023 | -11.0% | +49.4% |
| 2024 | +18.2% | +79.9% |
| 2025 | +29.4% | -11.1% |
| 2026 | +8.9% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and APO good diversifiers for each other?
Yes. With a correlation of -0.23, AEP and APO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AEP and APO?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.52 over the last year and 0.00 over 5 years.
Is APO a good diversifier for AEP?
Yes. With a correlation of -0.23, AEP and APO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/aep-vs-apo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aep-vs-apo/)
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Related comparisons
Hubs: AEP correlations · APO correlations
