APPS vs MRK: Correlation
How closely do Digital Turbine, Inc. (APPS) and Merck & Co. (MRK) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPS and MRK?
On 3 years of weekly data the APPS/MRK correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.10 lands near the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -673.3 %².
Among the 14 assets we track against APPS, MRK sits near the bottom by co-movement, at rank #10. The last year tells two different stories: APPS led by 89.2 percentage points, +173.0% for APPS against +83.8% for MRK. One caveat on sizing: APPS is 4.7 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 MRK: side by side
| APPS (Digital Turbine, Inc.) | MRK (Merck & Co.) | |
|---|---|---|
| 1-year return | +173.0% | +83.8% |
| 5-year return | -77.7% | +128.5% |
| Volatility (ann.) | 130.3% | 27.9% |
| Beta vs S&P 500 | 2.13 | 0.28 |
| Max drawdown (3Y) | -86.7% | -43.4% |
| Market cap | $1.4B | $368.9B |
| P/E (trailing) | – | 121.6 |
| Dividend yield | 0.00% | 2.17% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | APPS | MRK |
|---|---|---|
| 2022 | -75.0% | +49.4% |
| 2023 | -55.0% | +1.0% |
| 2024 | -75.4% | -6.3% |
| 2025 | +195.9% | +9.8% |
| 2026 | +128.8% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPS and MRK good diversifiers for each other?
Yes. With a correlation of -0.19, APPS and MRK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APPS and MRK?
The APPS/MRK correlation stands at -0.19 on a 3-year window (1 year: -0.10, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is MRK a good diversifier for APPS?
Yes. With a correlation of -0.19, APPS and MRK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apps-vs-mrk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apps-vs-mrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APPS correlations · MRK correlations
