APP vs IVV: Correlation
AppLovin (APP) and iShares Core S&P 500 ETF (IVV) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and IVV?
Over the past 3 years, APP and IVV moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 651.0 %².
Within APP's tracked universe of 44 assets, IVV comes in at #13 by 3-year correlation. The last year tells two different stories: IVV led by 53.2 percentage points, -32.5% for APP against +20.7% for IVV. On a rolling one-year basis the correlation drifted between 0.32 and 0.65, a moderate band. Risk is not evenly split, since APP carries 5.8 times the volatility of the other side.
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 IVV: side by side
| APP (AppLovin) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | -32.5% | +20.7% |
| 5-year return | +326.5% | +83.0% |
| Volatility (ann.) | 84.3% | 14.5% |
| Beta vs S&P 500 | 3.10 | 1.00 |
| Max drawdown (3Y) | -59.3% | -18.8% |
| Market cap | $105.0B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 1.09% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $869.2B |
| Sector / category | Communication Services | ETF · US Large Cap |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | APP | IVV |
|---|---|---|
| 2022 | -88.8% | -18.2% |
| 2023 | +278.4% | +26.3% |
| 2024 | +712.6% | +24.9% |
| 2025 | +108.1% | +17.8% |
| 2026 | -53.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IVV holds APP at a 0.13% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are APP and IVV good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APP and IVV?
The APP/IVV correlation stands at 0.53 on a 3-year window (1 year: 0.47, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is IVV a good diversifier for APP?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 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-ivv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/app-vs-ivv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APP correlations · IVV correlations
