APPS vs SNOW: Correlation
How closely do Digital Turbine, Inc. (APPS) and Snowflake Inc. (SNOW) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPS and SNOW?
Across a 3-year window, the weekly returns of APPS and SNOW correlate at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.46). Stretching to 5 years gives 0.48, with an annualized covariance of 3294.6 %².
SNOW is one of the assets that tracks APPS most closely: it ranks #3 out of the 14 assets we track against APPS. Their recent paths diverged sharply: over the last 12 months APPS outperformed by 108.8 percentage points (+173.0% for APPS against +64.2% for SNOW). Risk is not evenly split, since APPS carries 2.4 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.
APPS vs SNOW: side by side
| APPS (Digital Turbine, Inc.) | SNOW (Snowflake Inc.) | |
|---|---|---|
| 1-year return | +173.0% | +64.2% |
| 5-year return | -77.7% | +10.5% |
| Volatility (ann.) | 130.3% | 55.4% |
| Beta vs S&P 500 | 2.13 | 1.41 |
| Max drawdown (3Y) | -86.7% | -56.3% |
| Market cap | $1.4B | $114.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APPS | SNOW |
|---|---|---|
| 2022 | -75.0% | -57.6% |
| 2023 | -55.0% | +38.6% |
| 2024 | -75.4% | -22.4% |
| 2025 | +195.9% | +42.1% |
| 2026 | +128.8% | +50.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPS and SNOW good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APPS and SNOW?
As of 2026-08-27, the correlation of weekly returns between APPS and SNOW is 0.46 over 3 years, 0.74 over 1 year and 0.48 over 5 years.
Is SNOW a good diversifier for APPS?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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-snow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apps-vs-snow/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APPS correlations · SNOW correlations
