APPN vs SO: Correlation
Appian Corporation (APPN) and Southern Company (SO) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPN and SO?
On 3 years of weekly data the APPN/SO correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.27 over 3. The 5-year figure is -0.11, and annualized covariance runs at -245.7 %².
Out of 13 assets tracked against APPN, SO lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months APPN outperformed by 41.7 percentage points (+40.3% for APPN against -1.4% for SO). Risk is not evenly split, since APPN carries 3.3 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.
APPN vs SO: side by side
| APPN (Appian Corporation) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +40.3% | -1.4% |
| 5-year return | -61.6% | +62.6% |
| Volatility (ann.) | 55.0% | 16.5% |
| Beta vs S&P 500 | 1.18 | -0.02 |
| Max drawdown (3Y) | -64.0% | -15.0% |
| Market cap | $3.0B | $102.4B |
| P/E (trailing) | – | 21.7 |
| Dividend yield | 0.00% | 3.32% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | APPN | SO |
|---|---|---|
| 2022 | -50.1% | +8.2% |
| 2023 | +15.7% | +2.2% |
| 2024 | -12.4% | +21.7% |
| 2025 | +7.4% | +9.5% |
| 2026 | +16.9% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPN and SO good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between APPN and SO?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.31 over the last year and -0.11 over 5 years.
Is SO a good diversifier for APPN?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/appn-vs-so.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/appn-vs-so/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APPN correlations · SO correlations
