APLD vs TNGX: Correlation
Applied Digital Corporation (APLD) and Tango Therapeutics, Inc. (TNGX) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLD and TNGX?
Across a 3-year window, the weekly returns of APLD and TNGX correlate at 0.34, moderate. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.34). Stretching to 5 years gives 0.19, with an annualized covariance of 4408.9 %².
Within APLD's tracked universe of 15 assets, TNGX comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TNGX outperformed by 202.1 percentage points (+64.3% for APLD against +266.4% for TNGX).
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 TNGX: side by side
| APLD (Applied Digital Corporation) | TNGX (Tango Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +64.3% | +266.4% |
| 5-year return | +465.8% | +112.1% |
| Volatility (ann.) | 117.7% | 109.5% |
| Beta vs S&P 500 | 2.73 | 1.01 |
| Max drawdown (3Y) | -71.9% | -91.5% |
| Market cap | $7.8B | $4.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLD | TNGX |
|---|---|---|
| 2022 | – | -33.7% |
| 2023 | +266.3% | +36.6% |
| 2024 | +13.4% | -68.8% |
| 2025 | +220.9% | +186.7% |
| 2026 | +11.9% | +185.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLD and TNGX good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APLD and TNGX?
The APLD/TNGX correlation stands at 0.34 on a 3-year window (1 year: 0.12, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is TNGX a good diversifier for APLD?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 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-tngx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apld-vs-tngx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APLD correlations · TNGX correlations
