APO vs STEP: Correlation
Measured on weekly returns over the past three years, Apollo Global Management (APO) and StepStone Group Inc. (STEP) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and STEP?
On 3 years of weekly data the APO/STEP correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 942.7 %².
By 3-year correlation, STEP places #5 of the 33 assets tracked against APO. Correlation aside, the last 12 months split them widely, with APO ahead by 17.0 points (-0.1% versus -17.1%).
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 STEP: side by side
| APO (Apollo Global Management) | STEP (StepStone Group Inc.) | |
|---|---|---|
| 1-year return | -0.1% | -17.1% |
| 5-year return | +149.7% | +20.7% |
| Volatility (ann.) | 36.8% | 37.9% |
| Beta vs S&P 500 | 1.62 | 1.43 |
| Max drawdown (3Y) | -42.8% | -46.9% |
| Market cap | $78.8B | $6.5B |
| P/E (trailing) | 47.5 | – |
| Dividend yield | 1.60% | 2.25% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | APO | STEP |
|---|---|---|
| 2022 | -9.6% | -37.8% |
| 2023 | +49.4% | +31.7% |
| 2024 | +79.9% | +85.9% |
| 2025 | -11.1% | +13.6% |
| 2026 | -6.7% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and STEP good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APO and STEP?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.68 over the last year and 0.65 over 5 years.
Is STEP a good diversifier for APO?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apo-vs-step.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apo-vs-step/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APO correlations · STEP correlations
