APLD vs RIOT: Correlation
Measured on weekly returns over the past three years, Applied Digital Corporation (APLD) and Riot Platforms, Inc. (RIOT) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLD and RIOT?
Over the past 3 years, APLD and RIOT moved with a correlation of 0.49, which is moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.49). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 4729.1 %².
Among the 15 assets we track against APLD, RIOT ranks #5 by 3-year correlation. Over the last 12 months APLD came out ahead by 10.2 percentage points (+64.3% against +54.1%).
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.
APLD vs RIOT: side by side
| APLD (Applied Digital Corporation) | RIOT (Riot Platforms, Inc.) | |
|---|---|---|
| 1-year return | +64.3% | +54.1% |
| 5-year return | +465.8% | -44.6% |
| Volatility (ann.) | 117.7% | 82.3% |
| Beta vs S&P 500 | 2.73 | 2.40 |
| Max drawdown (3Y) | -71.9% | -66.2% |
| Market cap | $7.8B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLD | RIOT |
|---|---|---|
| 2022 | – | -84.8% |
| 2023 | +266.3% | +356.3% |
| 2024 | +13.4% | -34.0% |
| 2025 | +220.9% | +24.1% |
| 2026 | +11.9% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLD and RIOT good diversifiers for each other?
Reasonably. At 0.49, APLD and RIOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APLD and RIOT?
As of 2026-08-27, the correlation of weekly returns between APLD and RIOT is 0.49 over 3 years, 0.61 over 1 year and 0.35 over 5 years.
Is RIOT a good diversifier for APLD?
Reasonably. At 0.49, APLD and RIOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apld-vs-riot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apld-vs-riot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APLD correlations · RIOT correlations
