APP vs BCE: Correlation
How closely do AppLovin (APP) and BCE, Inc. (BCE) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and BCE?
Across a 3-year window, the weekly returns of APP and BCE correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.16 over 1 year against -0.22 over 3. Stretching to 5 years gives -0.10, with an annualized covariance of -400.7 %².
Among the 44 assets we track against APP, BCE ranks #39 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BCE ahead by 31.1 points (-32.5% versus -1.4%). One caveat on sizing: APP is 3.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 BCE: side by side
| APP (AppLovin) | BCE (BCE, Inc.) | |
|---|---|---|
| 1-year return | -32.5% | -1.4% |
| 5-year return | +326.5% | -36.8% |
| Volatility (ann.) | 84.3% | 21.5% |
| Beta vs S&P 500 | 3.10 | -0.06 |
| Max drawdown (3Y) | -59.3% | -43.5% |
| Market cap | $105.0B | $21.8B |
| P/E (trailing) | 23.7 | 4.8 |
| Dividend yield | 0.00% | 7.45% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | APP | BCE |
|---|---|---|
| 2022 | -88.8% | -10.6% |
| 2023 | +278.4% | -4.2% |
| 2024 | +712.6% | -35.5% |
| 2025 | +108.1% | +10.2% |
| 2026 | -53.6% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and BCE good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APP and BCE?
As of 2026-08-27, the correlation of weekly returns between APP and BCE is -0.22 over 3 years, -0.16 over 1 year and -0.10 over 5 years.
Is BCE a good diversifier for APP?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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 · BCE correlations
