APP vs HOOD: Correlation
How closely do AppLovin (APP) and Robinhood Markets (HOOD) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and HOOD?
Across a 3-year window, the weekly returns of APP and HOOD correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 3404.0 %².
Few assets follow APP as closely as HOOD, which ranks #3 of 44 tracked partners. The last year tells two different stories: HOOD led by 39.1 percentage points, -32.5% for APP against +6.6% for HOOD. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.06 to 0.71.
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 HOOD: side by side
| APP (AppLovin) | HOOD (Robinhood Markets) | |
|---|---|---|
| 1-year return | -32.5% | +6.6% |
| 5-year return | +326.5% | +151.5% |
| Volatility (ann.) | 84.3% | 71.4% |
| Beta vs S&P 500 | 3.10 | 2.88 |
| Max drawdown (3Y) | -59.3% | -57.3% |
| Market cap | $105.0B | $98.7B |
| P/E (trailing) | 23.7 | 48.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | Financials |
Year-by-year returns
| Year | APP | HOOD |
|---|---|---|
| 2022 | -88.8% | -54.2% |
| 2023 | +278.4% | +56.5% |
| 2024 | +712.6% | +192.5% |
| 2025 | +108.1% | +203.5% |
| 2026 | -53.6% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and HOOD good diversifiers for each other?
Only partially. A correlation of 0.57 means APP and HOOD 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 HOOD?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.61 over the last year and 0.53 over 5 years.
Is HOOD a good diversifier for APP?
Only partially. A correlation of 0.57 means APP and HOOD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/app-vs-hood.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/app-vs-hood/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APP correlations · HOOD correlations
