APP vs IONQ: Correlation
Measured on weekly returns over the past three years, AppLovin (APP) and IonQ, Inc. (IONQ) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and IONQ?
Over the past 3 years, APP and IONQ moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 4516.2 %².
Among the 44 assets we track against APP, IONQ ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IONQ outperformed by 35.0 percentage points (-32.5% for APP against +2.5% for IONQ).
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 IONQ: side by side
| APP (AppLovin) | IONQ (IonQ, Inc.) | |
|---|---|---|
| 1-year return | -32.5% | +2.5% |
| 5-year return | +326.5% | +325.5% |
| Volatility (ann.) | 84.3% | 100.0% |
| Beta vs S&P 500 | 3.10 | 3.23 |
| Max drawdown (3Y) | -59.3% | -67.6% |
| Market cap | $105.0B | $17.2B |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | APP | IONQ |
|---|---|---|
| 2022 | -88.8% | -79.3% |
| 2023 | +278.4% | +259.1% |
| 2024 | +712.6% | +237.1% |
| 2025 | +108.1% | +7.4% |
| 2026 | -53.6% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and IONQ good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APP and IONQ?
The APP/IONQ correlation stands at 0.54 on a 3-year window (1 year: 0.56, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is IONQ a good diversifier for APP?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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-ionq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/app-vs-ionq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APP correlations · IONQ correlations
