APP vs BROS: Correlation
AppLovin (APP) and Dutch Bros Inc. (BROS) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and BROS?
Over the past 3 years, APP and BROS moved with a correlation of 0.52, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.52 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 2478.6 %².
Within APP's tracked universe of 44 assets, BROS comes in at #16 by 3-year correlation. Neither side won the trailing year by much: -32.5% against -30.7%.
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 BROS: side by side
| APP (AppLovin) | BROS (Dutch Bros Inc.) | |
|---|---|---|
| 1-year return | -32.5% | -30.7% |
| 5-year return | +326.5% | +38.2% |
| Volatility (ann.) | 84.3% | 57.0% |
| Beta vs S&P 500 | 3.10 | 1.67 |
| Max drawdown (3Y) | -59.3% | -45.3% |
| Market cap | $105.0B | $8.9B |
| P/E (trailing) | 23.7 | 70.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | APP | BROS |
|---|---|---|
| 2022 | -88.8% | -44.6% |
| 2023 | +278.4% | +12.3% |
| 2024 | +712.6% | +65.4% |
| 2025 | +108.1% | +16.9% |
| 2026 | -53.6% | -17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and BROS good diversifiers for each other?
Only partially. A correlation of 0.52 means APP and BROS 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 BROS?
As of 2026-08-27, the correlation of weekly returns between APP and BROS is 0.52 over 3 years, 0.14 over 1 year and 0.40 over 5 years.
Is BROS a good diversifier for APP?
Only partially. A correlation of 0.52 means APP and BROS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/app-vs-bros.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/app-vs-bros/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APP correlations · BROS correlations
