APP vs ARKK: Correlation
How closely do AppLovin (APP) and ARK Innovation ETF (ARKK) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and ARKK?
Across a 3-year window, the weekly returns of APP and ARKK correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 1800.1 %².
Among the 44 assets we track against APP, ARKK ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARKK ahead by 48.2 points (-32.5% versus +15.7%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.17 and 0.77 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since APP carries 2.2 times the volatility of the other side.
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.
APP vs ARKK: side by side
| APP (AppLovin) | ARKK (ARK Innovation ETF) | |
|---|---|---|
| 1-year return | -32.5% | +15.7% |
| 5-year return | +326.5% | -27.7% |
| Volatility (ann.) | 84.3% | 38.8% |
| Beta vs S&P 500 | 3.10 | 2.07 |
| Max drawdown (3Y) | -59.3% | -39.6% |
| Market cap | $105.0B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Communication Services | ETF · Thematic |
Year-by-year returns
| Year | APP | ARKK |
|---|---|---|
| 2022 | -88.8% | -67.0% |
| 2023 | +278.4% | +69.0% |
| 2024 | +712.6% | +8.4% |
| 2025 | +108.1% | +35.5% |
| 2026 | -53.6% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and ARKK good diversifiers for each other?
Only partially. A correlation of 0.55 means APP and ARKK 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 APP and ARKK?
The APP/ARKK correlation stands at 0.55 on a 3-year window (1 year: 0.54, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is ARKK a good diversifier for APP?
Only partially. A correlation of 0.55 means APP and ARKK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: APP correlations · ARKK correlations
