APO vs JEF: Correlation
How closely do Apollo Global Management (APO) and Jefferies Financial Group Inc. (JEF) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and JEF?
Over the past 3 years, APO and JEF moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 937.8 %².
Among the 33 assets we track against APO, JEF ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with APO ahead by 15.8 points (-0.1% versus -15.9%).
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 JEF: side by side
| APO (Apollo Global Management) | JEF (Jefferies Financial Group Inc.) | |
|---|---|---|
| 1-year return | -0.1% | -15.9% |
| 5-year return | +149.7% | +73.8% |
| Volatility (ann.) | 36.8% | 39.3% |
| Beta vs S&P 500 | 1.62 | 1.57 |
| Max drawdown (3Y) | -42.8% | -54.4% |
| Market cap | $78.8B | $10.7B |
| P/E (trailing) | 47.5 | 14.8 |
| Dividend yield | 1.60% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | APO | JEF |
|---|---|---|
| 2022 | -9.6% | -8.5% |
| 2023 | +49.4% | +27.7% |
| 2024 | +79.9% | +98.8% |
| 2025 | -11.1% | -18.8% |
| 2026 | -6.7% | -12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and JEF good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APO and JEF?
As of 2026-08-27, the correlation of weekly returns between APO and JEF is 0.65 over 3 years, 0.58 over 1 year and 0.64 over 5 years.
Is JEF a good diversifier for APO?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 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-jef.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apo-vs-jef/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APO correlations · JEF correlations
