APO vs TPG: Correlation
Apollo Global Management (APO) and TPG Inc. (TPG) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and TPG?
Over the past 3 years, APO and TPG moved with a correlation of 0.67, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.67 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 923.0 %².
By 3-year correlation, TPG places #6 of the 33 assets tracked against APO. The trailing year gives APO the advantage: -0.1% versus -8.1%, a 8.0-point spread.
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 TPG: side by side
| APO (Apollo Global Management) | TPG (TPG Inc.) | |
|---|---|---|
| 1-year return | -0.1% | -8.1% |
| 5-year return | +149.7% | +91.2% |
| Volatility (ann.) | 36.8% | 37.6% |
| Beta vs S&P 500 | 1.62 | 1.62 |
| Max drawdown (3Y) | -42.8% | -44.8% |
| Market cap | $78.8B | $21.1B |
| P/E (trailing) | 47.5 | 78.2 |
| Dividend yield | 1.60% | 4.24% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | APO | TPG |
|---|---|---|
| 2022 | -9.6% | – |
| 2023 | +49.4% | +62.4% |
| 2024 | +79.9% | +50.6% |
| 2025 | -11.1% | +5.1% |
| 2026 | -6.7% | -12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and TPG good diversifiers for each other?
Only partially. A correlation of 0.67 means APO and TPG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APO and TPG?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.69 over the last year and 0.68 over 5 years.
Is TPG a good diversifier for APO?
Only partially. A correlation of 0.67 means APO and TPG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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-tpg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apo-vs-tpg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APO correlations · TPG correlations
