APP vs VOO: Correlation
AppLovin (APP) and Vanguard S&P 500 ETF (VOO) 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 VOO?
On 3 years of weekly data the APP/VOO correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 646.4 %².
Among the 44 assets we track against APP, VOO ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VOO outperformed by 53.1 percentage points (-32.5% for APP against +20.6% for VOO). The rolling one-year correlation moved between 0.32 and 0.66 over the past three years, a moderate range. One caveat on sizing: APP is 5.9 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 VOO: side by side
| APP (AppLovin) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | -32.5% | +20.6% |
| 5-year return | +326.5% | +83.0% |
| Volatility (ann.) | 84.3% | 14.4% |
| Beta vs S&P 500 | 3.10 | 0.99 |
| Max drawdown (3Y) | -59.3% | -18.7% |
| Market cap | $105.0B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Communication Services | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | APP | VOO |
|---|---|---|
| 2022 | -88.8% | -18.2% |
| 2023 | +278.4% | +26.3% |
| 2024 | +712.6% | +25.0% |
| 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
APP represents 0.17% of VOO's portfolio, so part of any move in VOO is APP itself, and the correlation between them is partly mechanical.
Are APP and VOO good diversifiers for each other?
Only partially. A correlation of 0.53 means APP and VOO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APP and VOO?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.47 over the last year and 0.53 over 5 years.
Is VOO a good diversifier for APP?
Only partially. A correlation of 0.53 means APP and VOO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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-voo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/app-vs-voo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APP correlations · VOO correlations
