APP vs SPPL: Correlation
Measured on weekly returns over the past three years, AppLovin (APP) and SIMPPLE LTD. (SPPL) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and SPPL?
Across a 3-year window, the weekly returns of APP and SPPL correlate at 0.51, moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.51). Stretching to 5 years gives n/a, with an annualized covariance of 7452.1 %².
By 3-year correlation, SPPL places #19 of the 44 assets tracked against APP. Twelve-month performance is nearly a tie, at -32.5% for APP and -31.0% for SPPL. Note the risk asymmetry: SPPL runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SPPL: side by side
| APP (AppLovin) | SPPL (SIMPPLE LTD.) | |
|---|---|---|
| 1-year return | -32.5% | -31.0% |
| 5-year return | +326.5% | n/a |
| Volatility (ann.) | 84.3% | 172.3% |
| Beta vs S&P 500 | 3.10 | 3.00 |
| Max drawdown (3Y) | -59.3% | -97.6% |
| Market cap | $105.0B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | APP | SPPL |
|---|---|---|
| 2022 | -88.8% | – |
| 2023 | +278.4% | – |
| 2024 | +712.6% | -83.1% |
| 2025 | +108.1% | -46.9% |
| 2026 | -53.6% | -49.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and SPPL good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APP and SPPL?
The APP/SPPL correlation stands at 0.51 on a 3-year window (1 year: 0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPPL a good diversifier for APP?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: APP correlations · SPPL correlations
