APO vs AZN: Correlation
How closely do Apollo Global Management (APO) and AstraZeneca PLC (AZN) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and AZN?
Across a 3-year window, the weekly returns of APO and AZN 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 -0.44 versus -0.23 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -211.5 %².
Among the 33 assets we track against APO, AZN ranks #28 by 3-year correlation. Twelve-month performance is nearly a tie, at -0.1% for APO and +4.0% for AZN.
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.
APO vs AZN: side by side
| APO (Apollo Global Management) | AZN (AstraZeneca PLC) | |
|---|---|---|
| 1-year return | -0.1% | +4.0% |
| 5-year return | +149.7% | +54.7% |
| Volatility (ann.) | 36.8% | 25.1% |
| Beta vs S&P 500 | 1.62 | 0.21 |
| Max drawdown (3Y) | -42.8% | -27.9% |
| Market cap | $78.8B | $255.2B |
| P/E (trailing) | 47.5 | 24.9 |
| Dividend yield | 1.60% | 1.94% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | APO | AZN |
|---|---|---|
| 2022 | -9.6% | +19.2% |
| 2023 | +49.4% | +1.4% |
| 2024 | +79.9% | -0.6% |
| 2025 | -11.1% | +43.3% |
| 2026 | -6.7% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and AZN good diversifiers for each other?
Yes. With a correlation of -0.23, APO and AZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APO and AZN?
The APO/AZN correlation stands at -0.23 on a 3-year window (1 year: -0.44, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is AZN a good diversifier for APO?
Yes. With a correlation of -0.23, APO and AZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/apo-vs-azn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apo-vs-azn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APO correlations · AZN correlations
