APO vs RJF: Correlation
Apollo Global Management (APO) and Raymond James Financial (RJF) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and RJF?
Over the past 3 years, APO and RJF moved with a correlation of 0.66, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.66 over 3 years. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 604.5 %².
By 3-year correlation, RJF places #10 of the 33 assets tracked against APO. The trailing year gives RJF the advantage: -0.1% versus +6.3%, a 6.4-point spread. Across three years, the rolling one-year figure varied moderately, from 0.40 to 0.84.
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 RJF: side by side
| APO (Apollo Global Management) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | -0.1% | +6.3% |
| 5-year return | +149.7% | +102.1% |
| Volatility (ann.) | 36.8% | 24.8% |
| Beta vs S&P 500 | 1.62 | 1.03 |
| Max drawdown (3Y) | -42.8% | -28.1% |
| Market cap | $78.8B | $33.8B |
| P/E (trailing) | 47.5 | 15.4 |
| Dividend yield | 1.60% | 1.20% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | APO | RJF |
|---|---|---|
| 2022 | -9.6% | +8.3% |
| 2023 | +49.4% | +6.1% |
| 2024 | +79.9% | +40.8% |
| 2025 | -11.1% | +4.7% |
| 2026 | -6.7% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and RJF good diversifiers for each other?
To a limited degree. At 0.66 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 RJF?
The APO/RJF correlation stands at 0.66 on a 3-year window (1 year: 0.53, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is RJF a good diversifier for APO?
To a limited degree. At 0.66 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 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apo-vs-rjf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apo-vs-rjf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APO correlations · RJF correlations
