ANDE vs APPS: Correlation
The Andersons, Inc. (ANDE) and Digital Turbine, Inc. (APPS) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANDE and APPS?
Across a 3-year window, the weekly returns of ANDE and APPS correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.22). Stretching to 5 years gives -0.09, with an annualized covariance of -962.4 %².
Among the 14 assets we track against ANDE, APPS sits near the bottom by co-movement, at rank #12. The last year tells two different stories: APPS led by 114.1 percentage points, +58.9% for ANDE against +173.0% for APPS. One caveat on sizing: APPS is 3.9 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.
ANDE vs APPS: side by side
| ANDE (The Andersons, Inc.) | APPS (Digital Turbine, Inc.) | |
|---|---|---|
| 1-year return | +58.9% | +173.0% |
| 5-year return | +128.7% | -77.7% |
| Volatility (ann.) | 33.1% | 130.3% |
| Beta vs S&P 500 | 0.26 | 2.13 |
| Max drawdown (3Y) | -46.9% | -86.7% |
| Market cap | $2.2B | $1.4B |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 1.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANDE | APPS |
|---|---|---|
| 2022 | -7.8% | -75.0% |
| 2023 | +67.0% | -55.0% |
| 2024 | -28.8% | -75.4% |
| 2025 | +33.8% | +195.9% |
| 2026 | +21.0% | +128.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANDE and APPS good diversifiers for each other?
Yes. With a correlation of -0.22, ANDE and APPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANDE and APPS?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.34 over the last year and -0.09 over 5 years.
Is APPS a good diversifier for ANDE?
Yes. With a correlation of -0.22, ANDE and APPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ANDE correlations · APPS correlations
