LMND vs. APP
LMND (Lemonade, Inc.) and APP (AppLovin Corporation) are both stocks. LMND operates in Insurance - Property & Casualty (Financial Services), while APP operates in Advertising Agencies (Communication Services). Over the past 5 years, LMND returned -11.55%/yr vs 43.23%/yr for APP. At a 0.45 correlation, their price movements are largely independent.
Performance
LMND vs. APP - Performance Comparison
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Returns By Period
In the year-to-date period, LMND achieves a -19.23% return, which is significantly higher than APP's -26.28% return.
LMND
- 1D
- 0.54%
- 1M
- 8.74%
- YTD
- -19.23%
- 6M
- -26.15%
- 1Y
- 36.46%
- 3Y*
- 39.69%
- 5Y*
- -11.55%
- 10Y*
- —
APP
- 1D
- 3.80%
- 1M
- 9.53%
- YTD
- -26.28%
- 6M
- -25.93%
- 1Y
- 30.53%
- 3Y*
- 180.45%
- 5Y*
- 43.23%
- 10Y*
- —
LMND vs. APP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LMND Lemonade, Inc. | -19.23% | 94.06% | 127.40% | 17.91% | -67.51% | -52.47% |
APP AppLovin Corporation | -26.28% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
Correlation
The correlation between LMND and APP is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.45 |
The correlation between LMND and APP shifts across timeframes, from 0.34 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
LMND:
$4.39B
APP:
$168.27B
LMND:
-$1.88
APP:
$11.64
LMND:
5.18
APP:
27.44
LMND:
8.47
APP:
71.20
LMND:
$821.10M
APP:
$6.16B
LMND:
$390.70M
APP:
$5.45B
LMND:
-$120.70M
APP:
$4.87B
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Return for Risk
LMND vs. APP — Risk / Return Rank
LMND
APP
LMND vs. APP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lemonade, Inc. (LMND) 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.
| LMND | APP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 0.61 | +0.15 |
| Martin ratioReturn relative to average drawdown | 1.48 | 1.22 | +0.26 |
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Drawdowns
LMND vs. APP - Drawdown Comparison
The maximum LMND drawdown since its inception was -94.23%, roughly equal to the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for LMND and APP.
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Drawdown Indicators
| LMND | APP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.23% | -91.90% | -2.33% |
Max Drawdown (1Y)Largest decline over 1 year | -47.70% | -49.99% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -56.10% | -57.00% | +0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -90.63% | -91.90% | +1.27% |
Current DrawdownCurrent decline from peak | -68.63% | -32.28% | -36.35% |
Average DrawdownAverage peak-to-trough decline | -73.02% | -42.52% | -30.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.64% | 25.10% | -0.46% |
Volatility
LMND vs. APP - Volatility Comparison
The current volatility for Lemonade, Inc. (LMND) is 15.88%, while AppLovin Corporation (APP) has a volatility of 20.54%. This indicates that LMND 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
| LMND | APP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.88% | 20.54% | -4.66% |
Volatility (6M)Calculated over the trailing 6-month period | 53.78% | 58.87% | -5.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.53% | 71.03% | +13.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.20% | 77.84% | +4.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.51% | 77.53% | +8.98% |
Dividends
LMND vs. APP - Dividend Comparison
Neither LMND nor APP has paid dividends to shareholders.
Financials
LMND vs. APP - Financials Comparison
This section allows you to compare key financial metrics between Lemonade, 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
LMND vs. APP - Profitability Comparison
LMND - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported a gross profit of 101.10M and revenue of 234.40M. Therefore, the gross margin over that period was 43.1%.
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%.
LMND - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported an operating income of -34.60M and revenue of 234.40M, resulting in an operating margin of -14.8%.
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%.
LMND - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lemonade, Inc. reported a net income of -35.80M and revenue of 234.40M, resulting in a net margin of -15.3%.
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
LMND and APP have a correlation of 0.34, 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 LMND (15.88%). In terms of maximum drawdown, LMND dropped -94.23% vs APP's -91.90%.
LMND currently has the higher Sharpe Ratio (0.43 vs 0.43), 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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