APP vs JNJ: Correlation
How closely do AppLovin (APP) and Johnson & Johnson (JNJ) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and JNJ?
On 3 years of weekly data the APP/JNJ correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.20). The 5-year figure is -0.11, and annualized covariance runs at -318.2 %².
By 3-year correlation, JNJ places #36 of the 44 assets tracked against APP. The last year tells two different stories: JNJ led by 86.2 percentage points, -32.5% for APP against +53.7% for JNJ. On a rolling one-year basis the correlation drifted between -0.36 and 0.03, a moderate band. One caveat on sizing: APP is 4.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 JNJ: side by side
| APP (AppLovin) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | -32.5% | +53.7% |
| 5-year return | +326.5% | +76.0% |
| Volatility (ann.) | 84.3% | 18.5% |
| Beta vs S&P 500 | 3.10 | 0.05 |
| Max drawdown (3Y) | -59.3% | -14.4% |
| Market cap | $105.0B | $640.5B |
| P/E (trailing) | 23.7 | 30.9 |
| Dividend yield | 0.00% | 1.94% |
| Sector / category | Communication Services | Health Care |
Year-by-year returns
| Year | APP | JNJ |
|---|---|---|
| 2022 | -88.8% | +6.0% |
| 2023 | +278.4% | -8.6% |
| 2024 | +712.6% | -4.8% |
| 2025 | +108.1% | +47.5% |
| 2026 | -53.6% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and JNJ good diversifiers for each other?
Yes. With a correlation of -0.20, APP and JNJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APP and JNJ?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.33 over the last year and -0.11 over 5 years.
Is JNJ a good diversifier for APP?
Yes. With a correlation of -0.20, APP and JNJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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-jnj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/app-vs-jnj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APP correlations · JNJ correlations
