APP vs. SHOP
APP (AppLovin Corporation) and SHOP (Shopify Inc.) are both stocks. APP operates in Advertising Agencies (Communication Services), while SHOP operates in Software - Application (Technology). Over the past 5 years, APP returned 43.23%/yr vs -2.79%/yr for SHOP. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
APP vs. SHOP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, APP achieves a -26.28% return, which is significantly higher than SHOP's -32.76% return.
APP
- 1D
- 3.80%
- 1M
- 2.39%
- YTD
- -26.28%
- 6M
- -25.93%
- 1Y
- 36.29%
- 3Y*
- 180.45%
- 5Y*
- 43.23%
- 10Y*
- —
SHOP
- 1D
- -2.02%
- 1M
- 11.11%
- YTD
- -32.76%
- 6M
- -34.08%
- 1Y
- 2.75%
- 3Y*
- 19.24%
- 5Y*
- -2.79%
- 10Y*
- 43.59%
APP vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
APP AppLovin Corporation | -26.28% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
SHOP Shopify Inc. | -32.76% | 51.39% | 36.50% | 124.43% | -74.80% | 16.74% |
Correlation
The correlation between APP and SHOP is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.55 |
The correlation between APP and SHOP has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.
Fundamentals
APP:
$168.27B
SHOP:
$141.08B
APP:
$11.64
SHOP:
$1.02
APP:
42.68
SHOP:
106.25
APP:
0.13
SHOP:
0.20
APP:
27.44
SHOP:
15.39
APP:
71.20
SHOP:
11.29
APP:
$6.16B
SHOP:
$9.20B
APP:
$5.45B
SHOP:
$5.93B
APP:
$4.87B
SHOP:
$1.60B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
APP vs. SHOP — Risk / Return Rank
APP
SHOP
APP vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AppLovin Corporation (APP) and Shopify Inc. (SHOP). 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 | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.05 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | -0.02 | +0.63 |
| Martin ratioReturn relative to average drawdown | 1.22 | -0.04 | +1.26 |
Loading charts...
Drawdowns
APP vs. SHOP - Drawdown Comparison
The maximum APP drawdown since its inception was -91.90%, which is greater than SHOP's maximum drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for APP and SHOP.
Loading charts...
Drawdown Indicators
| APP | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.90% | -84.82% | -7.08% |
Max Drawdown (1Y)Largest decline over 1 year | -49.99% | -46.71% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -57.00% | -46.71% | -10.29% |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | -84.82% | -7.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.82% | — |
Current DrawdownCurrent decline from peak | -32.28% | -39.53% | +7.25% |
Average DrawdownAverage peak-to-trough decline | -42.52% | -28.23% | -14.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.10% | 22.27% | +2.83% |
Volatility
APP vs. SHOP - Volatility Comparison
AppLovin Corporation (APP) has a higher volatility of 20.54% compared to Shopify Inc. (SHOP) at 15.38%. This indicates that APP's price experiences larger fluctuations and is considered to be riskier than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| APP | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.54% | 15.38% | +5.16% |
Volatility (6M)Calculated over the trailing 6-month period | 58.87% | 43.41% | +15.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.03% | 57.03% | +14.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.84% | 65.55% | +12.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.53% | 59.07% | +18.46% |
Dividends
APP vs. SHOP - Dividend Comparison
Neither APP nor SHOP has paid dividends to shareholders.
Financials
APP vs. SHOP - Financials Comparison
This section allows you to compare key financial metrics between AppLovin Corporation and Shopify Inc.. 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
Frequently Asked Questions
APP and SHOP have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APP has higher volatility (20.54%) compared to SHOP (15.38%). In terms of maximum drawdown, APP dropped -91.90% vs SHOP's -84.82%.
APP currently has the higher Sharpe Ratio (0.43 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.
Find the right allocation for APP and SHOP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer