APPS vs MCK: Correlation
Measured on weekly returns over the past three years, Digital Turbine, Inc. (APPS) and McKesson Corporation (MCK) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPS and MCK?
Across a 3-year window, the weekly returns of APPS and MCK correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.28 over 3 years. Stretching to 5 years gives -0.18, with an annualized covariance of -924.6 %².
Out of 14 assets tracked against APPS, MCK lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months APPS outperformed by 142.2 percentage points (+173.0% for APPS against +30.8% for MCK). One caveat on sizing: APPS is 5.2 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 MCK: side by side
| APPS (Digital Turbine, Inc.) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | +173.0% | +30.8% |
| 5-year return | -77.7% | +354.8% |
| Volatility (ann.) | 130.3% | 25.1% |
| Beta vs S&P 500 | 2.13 | 0.16 |
| Max drawdown (3Y) | -86.7% | -27.2% |
| Market cap | $1.4B | $103.8B |
| P/E (trailing) | – | 24.0 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | APPS | MCK |
|---|---|---|
| 2022 | -75.0% | +51.8% |
| 2023 | -55.0% | +24.1% |
| 2024 | -75.4% | +23.7% |
| 2025 | +195.9% | +44.5% |
| 2026 | +128.8% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPS and MCK good diversifiers for each other?
Yes. With a correlation of -0.28, APPS and MCK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APPS and MCK?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.16 over the last year and -0.18 over 5 years.
Is MCK a good diversifier for APPS?
Yes. With a correlation of -0.28, APPS and MCK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/apps-vs-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apps-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APPS correlations · MCK correlations
