APP vs. TSLR
APP (AppLovin Corporation) is a stock, while TSLR (GraniteShares 2x Long TSLA Daily ETF) is Leveraged Equities fund actively managed by GraniteShares. Over the past year, APP returned 30.53% vs 19.41% for TSLR. At a 0.34 correlation, their price movements are largely independent.
Performance
APP vs. TSLR - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with APP having a -26.28% return and TSLR slightly lower at -27.58%.
APP
- 1D
- 3.80%
- 1M
- 9.53%
- YTD
- -26.28%
- 6M
- -25.93%
- 1Y
- 30.53%
- 3Y*
- 180.45%
- 5Y*
- 43.23%
- 10Y*
- —
TSLR
- 1D
- 3.62%
- 1M
- -19.09%
- YTD
- -27.58%
- 6M
- -31.37%
- 1Y
- 19.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
APP vs. TSLR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
APP AppLovin Corporation | -26.28% | 108.08% | 712.62% | 2.15% |
TSLR GraniteShares 2x Long TSLA Daily ETF | -27.58% | -25.97% | 67.57% | 1.69% |
Correlation
The correlation between APP and TSLR is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | 0.34 |
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Return for Risk
APP vs. TSLR — Risk / Return Rank
APP
TSLR
APP vs. TSLR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AppLovin Corporation (APP) and GraniteShares 2x Long TSLA Daily ETF (TSLR). 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 | TSLR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.11 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 0.36 | +0.26 |
| Martin ratioReturn relative to average drawdown | 1.22 | 0.73 | +0.49 |
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Drawdowns
APP vs. TSLR - Drawdown Comparison
The maximum APP drawdown since its inception was -91.90%, which is greater than TSLR's maximum drawdown of -82.80%. Use the drawdown chart below to compare losses from any high point for APP and TSLR.
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Drawdown Indicators
| APP | TSLR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.90% | -82.80% | -9.10% |
Max Drawdown (1Y)Largest decline over 1 year | -49.99% | -54.37% | +4.38% |
Max Drawdown (3Y)Largest decline over 3 years | -57.00% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | — | — |
Current DrawdownCurrent decline from peak | -32.28% | -62.94% | +30.66% |
Average DrawdownAverage peak-to-trough decline | -42.52% | -50.31% | +7.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.10% | 26.72% | -1.62% |
Volatility
APP vs. TSLR - Volatility Comparison
The current volatility for AppLovin Corporation (APP) is 20.54%, while GraniteShares 2x Long TSLA Daily ETF (TSLR) has a volatility of 28.92%. This indicates that APP experiences smaller price fluctuations and is considered to be less risky than TSLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APP | TSLR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.54% | 28.92% | -8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 58.87% | 57.66% | +1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.03% | 89.10% | -18.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.84% | 115.61% | -37.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.53% | 115.61% | -38.08% |
Dividends
APP vs. TSLR - Dividend Comparison
Neither APP nor TSLR has paid dividends to shareholders.
Frequently Asked Questions
APP and TSLR 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.
TSLR has higher volatility (28.92%) compared to APP (20.54%). In terms of maximum drawdown, APP dropped -91.90% vs TSLR's -82.80%.
APP currently has the higher Sharpe Ratio (0.43 vs 0.22), 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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