APP vs GOOG: Correlation
Measured on weekly returns over the past three years, AppLovin (APP) and Alphabet Inc. (Class C) (GOOG) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and GOOG?
Across a 3-year window, the weekly returns of APP and GOOG correlate at 0.29, weak. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 772.4 %².
Among the 44 assets we track against APP, GOOG ranks #31 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GOOG ahead by 95.2 points (-32.5% versus +62.7%). On a rolling one-year basis the correlation drifted between 0.14 and 0.55, a moderate band. Note the risk asymmetry: APP runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 GOOG: side by side
| APP (AppLovin) | GOOG (Alphabet Inc. (Class C)) | |
|---|---|---|
| 1-year return | -32.5% | +62.7% |
| 5-year return | +326.5% | +134.2% |
| Volatility (ann.) | 84.3% | 31.1% |
| Beta vs S&P 500 | 3.10 | 1.20 |
| Max drawdown (3Y) | -59.3% | -29.4% |
| Market cap | $105.0B | $4,130.2B |
| P/E (trailing) | 23.7 | 17.0 |
| Dividend yield | 0.00% | 0.25% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | APP | GOOG |
|---|---|---|
| 2022 | -88.8% | -38.7% |
| 2023 | +278.4% | +58.8% |
| 2024 | +712.6% | +35.6% |
| 2025 | +108.1% | +65.4% |
| 2026 | -53.6% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and GOOG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APP and GOOG?
The APP/GOOG correlation stands at 0.29 on a 3-year window (1 year: 0.37, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is GOOG a good diversifier for APP?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 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-goog.json
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Related comparisons
Hubs: APP correlations · GOOG correlations
