APP vs. BTC-USD
APP (AppLovin Corporation) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, APP returned 51.05%/yr vs 13.47%/yr for BTC-USD. At a 0.23 correlation, their price movements are largely independent.
Performance
APP vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, APP achieves a -22.76% return, which is significantly higher than BTC-USD's -27.93% return.
APP
- 1D
- -0.34%
- 1M
- -0.08%
- 6M
- -15.59%
- YTD
- -22.76%
- 1Y
- 47.54%
- 3Y*
- 167.86%
- 5Y*
- 51.05%
- 10Y*
- —
BTC-USD
- 1D
- 1.32%
- 1M
- 2.22%
- 6M
- -30.73%
- YTD
- -27.93%
- 1Y
- -43.34%
- 3Y*
- 27.51%
- 5Y*
- 13.47%
- 10Y*
- 57.99%
APP vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
APP AppLovin Corporation | -22.76% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
BTC-USD Bitcoin | -27.93% | -6.27% | 120.76% | 155.82% | -64.23% | -26.62% |
Correlation
The correlation between APP and BTC-USD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.23 |
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Return for Risk
APP vs. BTC-USD — Risk / Return Rank
APP
BTC-USD
APP vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AppLovin Corporation (APP) and Bitcoin (BTC-USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APP | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.85 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | -0.82 | +1.77 |
| Martin ratioReturn relative to average drawdown | 1.81 | -1.34 | +3.16 |
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Drawdowns
APP vs. BTC-USD - Drawdown Comparison
The maximum APP drawdown since its inception was -91.90%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for APP and BTC-USD.
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Drawdown Indicators
| APP | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.90% | -85.30% | -6.60% |
Max Drawdown (1Y)Largest decline over 1 year | -49.99% | -53.08% | +3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -57.00% | -53.08% | -3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | -76.67% | -15.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -29.06% | -49.44% | +20.38% |
Average DrawdownAverage peak-to-trough decline | -42.38% | -42.53% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.27% | 31.20% | -4.93% |
Volatility
APP vs. BTC-USD - Volatility Comparison
AppLovin Corporation (APP) has a higher volatility of 21.41% compared to Bitcoin (BTC-USD) at 9.25%. This indicates that APP's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APP | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.41% | 9.25% | +12.16% |
Volatility (6M)Calculated over the trailing 6-month period | 59.91% | 34.87% | +25.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.01% | 35.75% | +36.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.96% | 43.96% | +34.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.43% | 56.32% | +21.11% |
Frequently Asked Questions
APP and BTC-USD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APP has higher volatility (21.41%) compared to BTC-USD (9.25%). In terms of maximum drawdown, APP dropped -91.90% vs BTC-USD's -85.30%.
APP currently has the higher Sharpe Ratio (0.66 vs -1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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