BILI vs. APP
BILI (Bilibili Inc.) and APP (AppLovin Corporation) are both stocks. Both are in the Communication Services sector — BILI in Electronic Gaming & Multimedia, APP in Advertising Agencies. Over the past 5 years, BILI returned -30.66%/yr vs 43.23%/yr for APP. At a 0.26 correlation, their price movements are largely independent.
Performance
BILI vs. APP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BILI having a -27.37% return and APP slightly higher at -26.28%.
BILI
- 1D
- -2.72%
- 1M
- -12.11%
- YTD
- -27.37%
- 6M
- -27.40%
- 1Y
- -10.79%
- 3Y*
- 1.92%
- 5Y*
- -30.66%
- 10Y*
- —
APP
- 1D
- 3.80%
- 1M
- 2.39%
- YTD
- -26.28%
- 6M
- -25.93%
- 1Y
- 36.29%
- 3Y*
- 180.45%
- 5Y*
- 43.23%
- 10Y*
- —
BILI vs. APP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BILI Bilibili Inc. | -27.37% | 35.78% | 48.81% | -48.63% | -48.94% | -54.97% |
APP AppLovin Corporation | -26.28% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
Correlation
The correlation between BILI and APP is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.26 |
The correlation between BILI and APP shifts across timeframes, from 0.10 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
BILI:
$8.21B
APP:
$168.27B
BILI:
CN¥3.12
APP:
$11.64
BILI:
38.79
APP:
42.68
BILI:
1.78
APP:
27.44
BILI:
3.57
APP:
71.20
BILI:
CN¥30.77B
APP:
$6.16B
BILI:
CN¥11.33B
APP:
$5.45B
BILI:
CN¥1.53B
APP:
$4.87B
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Return for Risk
BILI vs. APP — Risk / Return Rank
BILI
APP
BILI vs. APP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bilibili Inc. (BILI) and AppLovin Corporation (APP). 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.
| BILI | APP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.13 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 0.61 | -0.88 |
| Martin ratioReturn relative to average drawdown | -0.60 | 1.22 | -1.82 |
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Drawdowns
BILI vs. APP - Drawdown Comparison
The maximum BILI drawdown since its inception was -94.30%, roughly equal to the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for BILI and APP.
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Drawdown Indicators
| BILI | APP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.30% | -91.90% | -2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -52.06% | -49.99% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -53.12% | -57.00% | +3.88% |
Max Drawdown (5Y)Largest decline over 5 years | -92.97% | -91.90% | -1.07% |
Current DrawdownCurrent decline from peak | -88.58% | -32.28% | -56.30% |
Average DrawdownAverage peak-to-trough decline | -57.96% | -42.52% | -15.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.32% | 25.10% | -1.78% |
Volatility
BILI vs. APP - Volatility Comparison
The current volatility for Bilibili Inc. (BILI) is 18.55%, while AppLovin Corporation (APP) has a volatility of 20.54%. This indicates that BILI experiences smaller price fluctuations and is considered to be less risky than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BILI | APP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.55% | 20.54% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 36.58% | 58.87% | -22.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.74% | 71.03% | -21.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.14% | 77.84% | +1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.93% | 77.53% | -3.60% |
Dividends
BILI vs. APP - Dividend Comparison
Neither BILI nor APP has paid dividends to shareholders.
Financials
BILI vs. APP - Financials Comparison
This section allows you to compare key financial metrics between Bilibili Inc. and AppLovin Corporation. 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
BILI vs. APP - Profitability Comparison
BILI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bilibili Inc. reported a gross profit of 2.76B and revenue of 7.43B. Therefore, the gross margin over that period was 37.1%.
APP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
BILI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bilibili Inc. reported an operating income of 165.75M and revenue of 7.43B, resulting in an operating margin of 2.2%.
APP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AppLovin Corporation reported an operating income of 1.44B and revenue of 1.84B, resulting in an operating margin of 78.2%.
BILI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bilibili Inc. reported a net income of 208.51M and revenue of 7.43B, resulting in a net margin of 2.8%.
APP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AppLovin Corporation reported a net income of 1.21B and revenue of 1.84B, resulting in a net margin of 65.4%.
Frequently Asked Questions
BILI and APP have a correlation of 0.10, 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 BILI (18.55%). In terms of maximum drawdown, BILI dropped -94.30% vs APP's -91.90%.
APP currently has the higher Sharpe Ratio (0.43 vs -0.28), 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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