Applovin Corp Correlations

APP Stock

USD 444.93 23.30 5.53%

The current 90-days correlation between Applovin Corp and Workday is 0.02 (i.e., Significant diversification). The correlation of Applovin Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Applovin Corp Correlation With Market

Very good diversification

The correlation between Applovin Corp and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applovin Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Applovin Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Applovin Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

To learn how to invest in Applovin Stock, please use our How to Invest in Applovin Corp guide.

Moving together with Applovin Stock

0.92	U	Unity Software Aggressive Push	Pair Corr
0.7	BGE	Bridge Saas	Pair Corr
0.68	9NY	BYTES TECHGRP LS	Pair Corr
0.9	BL	Blackline	Pair Corr
0.9	DT	Dynatrace Holdings LLC	Pair Corr
0.89	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.87	35U	PAR TECHNOLOGY DL	Pair Corr
0.9	MQ	Marqeta Earnings Call This Week	Pair Corr
0.83	PD	Pagerduty	Pair Corr
0.63	QH	Quhuo	Pair Corr
0.66	VS	Versus Systems	Pair Corr
0.86	WK	Workiva	Pair Corr
0.83	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.84	RM	RM Plc	Pair Corr
0.81	2TY	PagerDuty	Pair Corr
0.93	DOCU	DocuSign	Pair Corr
0.75	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.77	1Q5	Dropbox	Pair Corr
0.61	VEEA	Veea Inc	Pair Corr
0.94	VERI	Veritone	Pair Corr
0.85	VERX	Vertex Buyout Trend	Pair Corr
0.88	6NCA	NCINO INC DL	Pair Corr
0.95	DSGX	Descartes Systems	Pair Corr
0.85	LY0	Lyft Inc	Pair Corr
0.65	DTCX	Datacentrex Symbol Change	Pair Corr
0.63	DTST	Data Storage Corp	Pair Corr
0.84	0M5	Bill Holdings	Pair Corr

Moving against Applovin Stock

0.86	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.73	RNI	OXFORD METRICS LS	Pair Corr
0.71	JG	Aurora Mobile	Pair Corr
0.7	DSG	Dillistone Group PLC	Pair Corr
0.46	LUS1	Lang Schwarz Aktieng	Pair Corr
0.41	TRB	Tribal Group plc	Pair Corr
0.33	XV7	SERESCO 16	Pair Corr
0.74	89P	CLAVISTER HOLDING	Pair Corr
0.59	MKQ	Mitek Systems	Pair Corr

Related Correlations Analysis

	WDAY	SNOW	AI	ZM	INTU	MNDY	TEAM	DDOG	GTLB	DOCU
WDAY		0.9	0.93	-0.29	0.99	0.98	0.98	0.81	0.93	0.97	WDAY
SNOW	0.9		0.84	-0.36	0.88	0.87	0.87	0.89	0.89	0.9	SNOW
AI	0.93	0.84		-0.17	0.93	0.94	0.93	0.76	0.85	0.93	AI
ZM	-0.29	-0.36	-0.17		-0.29	-0.31	-0.21	-0.17	-0.21	-0.31	ZM
INTU	0.99	0.88	0.93	-0.29		0.98	0.99	0.77	0.89	0.99	INTU
MNDY	0.98	0.87	0.94	-0.31	0.98		0.97	0.76	0.9	0.96	MNDY
TEAM	0.98	0.87	0.93	-0.21	0.99	0.97		0.77	0.9	0.97	TEAM
DDOG	0.81	0.89	0.76	-0.17	0.77	0.76	0.77		0.88	0.77	DDOG
GTLB	0.93	0.89	0.85	-0.21	0.89	0.9	0.9	0.88		0.87	GTLB
DOCU	0.97	0.9	0.93	-0.31	0.99	0.96	0.97	0.77	0.87		DOCU
	WDAY	SNOW	AI	ZM	INTU	MNDY	TEAM	DDOG	GTLB	DOCU

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

INTU	+ 0.99	WDAY
TEAM	+ 0.99	INTU
DOCU	+ 0.99	INTU
MNDY	+ 0.98	WDAY
TEAM	+ 0.98	WDAY
MNDY	+ 0.98	INTU

High negative correlations

ZM	- 0.36	SNOW
DOCU	- 0.31	ZM
MNDY	- 0.31	ZM
INTU	- 0.29	ZM
ZM	- 0.29	WDAY
GTLB	- 0.21	ZM

Risk-Adjusted Indicators

There is a big difference between Applovin Stock performing well and Applovin Corp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Applovin Corp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WDAY	1.96	(0.80)	(0.46)	3.11	(6.69)	12.27
SNOW	2.61	(0.69)	(0.25)	4.53	(7.70)	16.12
AI	3.14	(0.93)	(0.17)	4.87	(6.63)	20.46
ZM	1.98	(0.18)	(0.01)	3.85	(4.27)	15.97
INTU	2.10	(0.84)	(0.52)	3.46	(5.52)	15.22
MNDY	2.66	(1.07)	(0.62)	3.58	(8.39)	24.99
TEAM	2.75	(0.97)	(0.77)	3.68	(7.65)	15.75
DDOG	2.39	(0.60)	(0.27)	5.56	(7.61)	25.01
GTLB	2.59	(0.74)	(0.39)	4.97	(7.10)	21.76
DOCU	2.31	(0.62)	(0.35)	3.49	(6.14)	18.12

Applovin Corp Corporate Management

Victoria Valenzuela	Chief Secretary	Profile
Dmitriy Dorosh	Vice Officer	Profile
Jordan Satok	Vice Development	Profile
Ryan Gee	Head Finance	Profile
Christina Seafort	Chief Officer	Profile
Adam Foroughi	CEO CoFounder	Profile
Katie Jansen	Chief Officer	Profile

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