APP vs. GOOGL
APP (AppLovin Corporation) and GOOGL (Alphabet Inc. Class A) are both stocks. Both are in the Communication Services sector — APP in Advertising Agencies, GOOGL in Internet Content & Information. Over the past 5 years, APP returned 45.14%/yr vs 21.67%/yr for GOOGL. Their 0.42 correlation means their historical movements had little consistent relationship.
Performance
APP vs. GOOGL - Performance Comparison
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Returns By Period
In the year-to-date period, APP achieves a -41.25% return, which is significantly lower than GOOGL's 13.93% return.
APP
- 1D
- -1.97%
- 1M
- -29.88%
- 6M
- -16.32%
- YTD
- -41.25%
- 1Y
- 1.33%
- 3Y*
- 132.67%
- 5Y*
- 45.14%
- 10Y*
- —
- ALL TIME*
- 38.74%
GOOGL
- 1D
- 6.73%
- 1M
- -1.41%
- 6M
- 5.50%
- YTD
- 13.93%
- 1Y
- 86.11%
- 3Y*
- 39.78%
- 5Y*
- 21.67%
- 10Y*
- 24.55%
- ALL TIME*
- 25.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.74B | $2.73B | $2.75B | |
| $11.74B | $10.31B | $11.78B |
APP vs. GOOGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
APP AppLovin Corporation | -41.25% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
GOOGL Alphabet Inc. Class A | 13.93% | 65.99% | 36.01% | 58.32% | -39.09% | 29.22% |
Correlation
The correlation between APP and GOOGL is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.42 |
The correlation between APP and GOOGL shifts across timeframes, from 0.29 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
APP:
$133.00B
GOOGL:
$4.31T
APP:
$11.66
GOOGL:
$19.94
APP:
33.95
GOOGL:
17.86
APP:
0.10
GOOGL:
0.88
APP:
21.83
GOOGL:
9.78
APP:
56.74
GOOGL:
7.04
APP:
$6.16B
GOOGL:
$445.93B
APP:
$5.45B
GOOGL:
$271.59B
APP:
$4.87B
GOOGL:
$325.74B
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Return for Risk
APP vs. GOOGL — Risk / Return Rank
APP
GOOGL
APP vs. GOOGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AppLovin Corporation (APP) and Alphabet Inc. Class A (GOOGL). 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 | GOOGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.46 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 4.11 | -4.09 |
| Martin ratioReturn relative to average drawdown | 0.05 | 11.67 | -11.62 |
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Drawdowns
APP vs. GOOGL - Drawdown Comparison
The maximum APP drawdown since its inception was -91.90%, which is greater than GOOGL's maximum drawdown of -65.29%. Use the drawdown chart below to compare losses from any high point for APP and GOOGL.
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Drawdown Indicators
| APP | GOOGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.90% | -65.29% | -26.61% |
Max Drawdown (1Y)Largest decline over 1 year | -49.99% | -21.05% | -28.94% |
Max Drawdown (3Y)Largest decline over 3 years | -57.00% | -29.81% | -27.19% |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | -44.32% | -47.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.32% | — |
Current DrawdownCurrent decline from peak | -46.03% | -11.49% | -34.54% |
Average DrawdownAverage peak-to-trough decline | -42.38% | -13.01% | -29.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.35% | 7.41% | +20.94% |
Volatility
APP vs. GOOGL - Volatility Comparison
AppLovin Corporation (APP) has a higher volatility of 17.94% compared to Alphabet Inc. Class A (GOOGL) at 13.03%. This indicates that APP's price experiences larger fluctuations and is considered to be riskier than GOOGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APP | GOOGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.94% | 13.03% | +4.91% |
Volatility (6M)Calculated over the trailing 6-month period | 60.50% | 24.79% | +35.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.25% | 32.12% | +41.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.11% | 31.92% | +46.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.32% | 29.43% | +47.89% |
Dividends
APP vs. GOOGL - Dividend Comparison
APP has not paid dividends to shareholders, while GOOGL's dividend yield for the trailing twelve months is around 0.24%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
APP AppLovin Corporation | 0.00% | 0.00% | 0.00% |
GOOGL Alphabet Inc. Class A | 0.24% | 0.27% | 0.32% |
Financials
APP vs. GOOGL - Financials Comparison
This section allows you to compare key financial metrics between AppLovin Corporation and Alphabet Inc. Class A. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
APP vs. GOOGL - Profitability Comparison
APP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, AppLovin Corporation reported a gross profit of 1.64B and revenue of 1.84B. Therefore, the gross margin over that period was 89.0%.
GOOGL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Alphabet Inc. Class A reported a gross profit of 73.85B and revenue of 119.80B. Therefore, the gross margin over that period was 61.7%.
APP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, AppLovin Corporation reported an operating income of 1.44B and revenue of 1.84B, resulting in an operating margin of 78.2%.
GOOGL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Alphabet Inc. Class A reported an operating income of 40.77B and revenue of 119.80B, resulting in an operating margin of 34.0%.
APP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, AppLovin Corporation reported a net income of 1.21B and revenue of 1.84B, resulting in a net margin of 65.4%.
GOOGL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Alphabet Inc. Class A reported a net income of 112.19B and revenue of 119.80B, resulting in a net margin of 93.7%.
Frequently Asked Questions
APP and GOOGL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APP has higher volatility (17.94%) compared to GOOGL (13.03%). In terms of maximum drawdown, APP dropped -91.90% vs GOOGL's -65.29%.
GOOGL currently has the higher Sharpe Ratio (2.70 vs 0.02), 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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