APPS vs DT: Correlation
Measured on weekly returns over the past three years, Digital Turbine, Inc. (APPS) and Dynatrace, Inc. (DT) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPS and DT?
Over the past 3 years, APPS and DT moved with a correlation of 0.45, which is moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 2025.1 %².
Among the 14 assets we track against APPS, DT ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APPS outperformed by 166.4 percentage points (+173.0% for APPS against +6.6% for DT). One caveat on sizing: APPS is 3.8 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.
APPS vs DT: side by side
| APPS (Digital Turbine, Inc.) | DT (Dynatrace, Inc.) | |
|---|---|---|
| 1-year return | +173.0% | +6.6% |
| 5-year return | -77.7% | -21.5% |
| Volatility (ann.) | 130.3% | 34.3% |
| Beta vs S&P 500 | 2.13 | 1.02 |
| Max drawdown (3Y) | -86.7% | -48.2% |
| Market cap | $1.4B | $15.5B |
| P/E (trailing) | – | 102.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APPS | DT |
|---|---|---|
| 2022 | -75.0% | -36.5% |
| 2023 | -55.0% | +42.8% |
| 2024 | -75.4% | -0.6% |
| 2025 | +195.9% | -20.3% |
| 2026 | +128.8% | +23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPS and DT good diversifiers for each other?
Reasonably. At 0.45, APPS and DT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APPS and DT?
As of 2026-08-27, the correlation of weekly returns between APPS and DT is 0.45 over 3 years, 0.39 over 1 year and 0.45 over 5 years.
Is DT a good diversifier for APPS?
Reasonably. At 0.45, APPS and DT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
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Related comparisons
Hubs: APPS correlations · DT correlations
