APLM vs KBDC: Correlation
Apollomics Inc. - Class A (APLM) and Kayne Anderson BDC, Inc. (KBDC) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLM and KBDC?
Over the past 3 years, APLM and KBDC moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -526.4 %².
Among the 12 assets we track against APLM, KBDC sits near the bottom by co-movement, at rank #9. The last year tells two different stories: APLM led by 321.3 percentage points, +322.2% for APLM against +0.9% for KBDC. Note the risk asymmetry: APLM runs 10.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
APLM vs KBDC: side by side
| APLM (Apollomics Inc. - Class A) | KBDC (Kayne Anderson BDC, Inc.) | |
|---|---|---|
| 1-year return | +322.2% | +0.9% |
| 5-year return | -97.3% | n/a |
| Volatility (ann.) | 159.8% | 15.7% |
| Beta vs S&P 500 | 0.72 | 0.39 |
| Max drawdown (3Y) | -99.2% | -19.6% |
| Market cap | $0.1B | $0.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLM | KBDC |
|---|---|---|
| 2022 | +4.3% | – |
| 2023 | -90.7% | – |
| 2024 | -89.9% | – |
| 2025 | +91.7% | -2.4% |
| 2026 | +40.7% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLM and KBDC good diversifiers for each other?
Yes. With a correlation of -0.20, APLM and KBDC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APLM and KBDC?
The APLM/KBDC correlation stands at -0.20 on a 3-year window (1 year: -0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is KBDC a good diversifier for APLM?
Yes. With a correlation of -0.20, APLM and KBDC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/aplm-vs-kbdc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aplm-vs-kbdc/)
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Related comparisons
Hubs: APLM correlations · KBDC correlations
