APP vs LYV: Correlation
Measured on weekly returns over the past three years, AppLovin (APP) and Live Nation Entertainment (LYV) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and LYV?
Over the past 3 years, APP and LYV moved with a correlation of 0.37, which is moderate. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.37). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 875.9 %².
By 3-year correlation, LYV places #28 of the 44 assets tracked against APP. The last year tells two different stories: LYV led by 41.6 percentage points, -32.5% for APP against +9.1% for LYV. The rolling one-year correlation moved between 0.13 and 0.54 over the past three years, a moderate range. One caveat on sizing: APP is 3.0 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 LYV: side by side
| APP (AppLovin) | LYV (Live Nation Entertainment) | |
|---|---|---|
| 1-year return | -32.5% | +9.1% |
| 5-year return | +326.5% | +108.7% |
| Volatility (ann.) | 84.3% | 28.1% |
| Beta vs S&P 500 | 3.10 | 1.02 |
| Max drawdown (3Y) | -59.3% | -27.8% |
| Market cap | $105.0B | $42.1B |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | APP | LYV |
|---|---|---|
| 2022 | -88.8% | -41.7% |
| 2023 | +278.4% | +34.2% |
| 2024 | +712.6% | +38.4% |
| 2025 | +108.1% | +10.0% |
| 2026 | -53.6% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and LYV good diversifiers for each other?
Reasonably. At 0.37, APP and LYV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APP and LYV?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.14 over the last year and 0.37 over 5 years.
Is LYV a good diversifier for APP?
Reasonably. At 0.37, APP and LYV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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-lyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/app-vs-lyv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APP correlations · LYV correlations
