APO vs BX: Correlation
How closely do Apollo Global Management (APO) and Blackstone Inc. (BX) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and BX?
Over the past 3 years, APO and BX moved with a correlation of 0.63, which is strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.63 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 790.6 %².
Within APO's tracked universe of 33 assets, BX comes in at #17 by 3-year correlation. The trailing year gives APO the advantage: -0.1% versus -12.9%, a 12.8-point spread. The rolling one-year correlation moved between 0.45 and 0.75 over the past three years, a moderate range.
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 BX: side by side
| APO (Apollo Global Management) | BX (Blackstone Inc.) | |
|---|---|---|
| 1-year return | -0.1% | -12.9% |
| 5-year return | +149.7% | +37.5% |
| Volatility (ann.) | 36.8% | 34.0% |
| Beta vs S&P 500 | 1.62 | 1.36 |
| Max drawdown (3Y) | -42.8% | -46.5% |
| Market cap | $78.8B | $171.7B |
| P/E (trailing) | 47.5 | 32.1 |
| Dividend yield | 1.60% | 3.65% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | APO | BX |
|---|---|---|
| 2022 | -9.6% | -40.0% |
| 2023 | +49.4% | +82.7% |
| 2024 | +79.9% | +35.1% |
| 2025 | -11.1% | -7.8% |
| 2026 | -6.7% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and BX good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APO and BX?
The APO/BX correlation stands at 0.63 on a 3-year window (1 year: 0.65, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is BX a good diversifier for APO?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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-bx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apo-vs-bx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APO correlations · BX correlations
