APP vs DUOL: Correlation
How closely do AppLovin (APP) and Duolingo, Inc. (DUOL) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and DUOL?
On 3 years of weekly data the APP/DUOL correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.44). The 5-year figure is 0.43, and annualized covariance runs at 2297.8 %².
Within APP's tracked universe of 44 assets, DUOL comes in at #23 by 3-year correlation. The last year tells two different stories: APP led by 22.6 percentage points, -32.5% for APP against -55.1% for DUOL.
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 DUOL: side by side
| APP (AppLovin) | DUOL (Duolingo, Inc.) | |
|---|---|---|
| 1-year return | -32.5% | -55.1% |
| 5-year return | +326.5% | +11.0% |
| Volatility (ann.) | 84.3% | 62.1% |
| Beta vs S&P 500 | 3.10 | 1.55 |
| Max drawdown (3Y) | -59.3% | -83.3% |
| Market cap | $105.0B | $6.7B |
| P/E (trailing) | 23.7 | 16.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | APP | DUOL |
|---|---|---|
| 2022 | -88.8% | -33.0% |
| 2023 | +278.4% | +218.9% |
| 2024 | +712.6% | +42.9% |
| 2025 | +108.1% | -45.9% |
| 2026 | -53.6% | -18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and DUOL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APP and DUOL?
As of 2026-08-27, the correlation of weekly returns between APP and DUOL is 0.44 over 3 years, 0.33 over 1 year and 0.43 over 5 years.
Is DUOL a good diversifier for APP?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/app-vs-duol.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/app-vs-duol/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APP correlations · DUOL correlations
