APPF vs LMT: Correlation
Measured on weekly returns over the past three years, AppFolio, Inc. (APPF) and Lockheed Martin (LMT) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPF and LMT?
On 3 years of weekly data the APPF/LMT correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is -0.06, and annualized covariance runs at -240.2 %².
Out of 13 assets tracked against APPF, LMT lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months LMT outperformed by 43.9 percentage points (-16.0% for APPF against +27.9% for LMT). Risk is not evenly split, since APPF carries 1.6 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.
APPF vs LMT: side by side
| APPF (AppFolio, Inc.) | LMT (Lockheed Martin) | |
|---|---|---|
| 1-year return | -16.0% | +27.9% |
| 5-year return | +93.0% | +78.9% |
| Volatility (ann.) | 41.6% | 26.0% |
| Beta vs S&P 500 | 0.64 | 0.20 |
| Max drawdown (3Y) | -55.4% | -31.8% |
| Market cap | $8.2B | $130.6B |
| P/E (trailing) | 50.8 | 20.9 |
| Dividend yield | 0.00% | 2.41% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | APPF | LMT |
|---|---|---|
| 2022 | -13.0% | +40.5% |
| 2023 | +64.4% | -4.3% |
| 2024 | +42.4% | +10.0% |
| 2025 | -5.7% | +2.5% |
| 2026 | -0.3% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPF and LMT good diversifiers for each other?
Yes. With a correlation of -0.22, APPF and LMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APPF and LMT?
As of 2026-08-27, the correlation of weekly returns between APPF and LMT is -0.22 over 3 years, -0.24 over 1 year and -0.06 over 5 years.
Is LMT a good diversifier for APPF?
Yes. With a correlation of -0.22, APPF and LMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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
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Related comparisons
Hubs: APPF correlations · LMT correlations
