WPP vs. APP

Last updated Jun 3, 2026

WPP (WPP plc) and APP (AppLovin Corporation) are both stocks. WPP operates in Advertising Agencies (Communication Services), while APP operates in Software - Application (Technology). Over the past 5 years, WPP returned -19.56%/yr vs 53.76%/yr for APP. At a 0.26 correlation, their price movements are largely independent.

Performance

WPP vs. APP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WPP plc (WPP) and AppLovin Corporation (APP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WPP achieves a -16.21% return, which is significantly lower than APP's -10.12% return.

WPP

• 1D: -2.03%
• 1M: 3.92%
• YTD: -16.21%
• 6M: -0.32%
• 1Y: -49.23%
• 3Y*: -26.26%
• 5Y*: -19.56%
• 10Y*: -12.43%

APP

• 1D: -1.31%
• 1M: 31.66%
• YTD: -10.12%
• 6M: -7.25%
• 1Y: 50.69%
• 3Y*: 190.09%
• 5Y*: 53.76%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

WPP vs. APP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WPP WPP plc	-16.21%	-53.53%	13.55%	1.49%	-31.96%	16.08%
APP AppLovin Corporation	-10.12%	108.08%	712.62%	278.44%	-88.83%	44.57%

Correlation

The correlation between WPP and APP is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Apr 16, 2021	0.26

The correlation between WPP and APP shifts across timeframes, from 0.14 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap WPP : $4.05B APP : $205.14B
EPS WPP : $1.51 APP : $11.64
PE Ratio WPP : 12.48 APP : 52.03
PEG Ratio WPP : 0.16 APP : 0.16
PS Ratio WPP : 0.14 APP : 33.45
PB Ratio WPP : 1.59 APP : 86.80
Total Revenue (TTM) WPP : $28.29B APP : $6.16B
Gross Profit (TTM) WPP : $4.60B APP : $5.45B
EBITDA (TTM) WPP : $2.22B APP : $4.87B

Return for Risk

WPP vs. APP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WPP

WPP Risk / Return Rank: 7
WPP Sharpe Ratio Rank: 4
WPP Sortino Ratio Rank: 6
WPP Omega Ratio Rank: 5
WPP Calmar Ratio Rank: 8
WPP Martin Ratio Rank: 13

APP

APP Risk / Return Rank: 62
APP Sharpe Ratio Rank: 64
APP Sortino Ratio Rank: 61
APP Omega Ratio Rank: 61
APP Calmar Ratio Rank: 62
APP Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WPP vs. APP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WPP plc (WPP) 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.

	WPP	APP	Difference
Sharpe ratio Return per unit of total volatility	-1.04	0.72	-1.76
Sortino ratio Return per unit of downside risk	-1.42	1.31	-2.73
Omega ratio Gain probability vs. loss probability	0.80	1.18	-0.38
Calmar ratio Return relative to maximum drawdown	-0.85	1.08	-1.93
Martin ratio Return relative to average drawdown	-1.21	2.15	-3.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WPP vs. APP - Sharpe Ratio Comparison

The current WPP Sharpe Ratio is -1.04, which is lower than the APP Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of WPP and APP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WPP	APP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.04	0.72	-1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.57	0.70	-1.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.71	-0.70

Drawdowns

WPP vs. APP - Drawdown Comparison

The maximum WPP drawdown since its inception was -95.30%, roughly equal to the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for WPP and APP.

Drawdown Indicators

	WPP	APP	Difference
Max Drawdown Largest peak-to-trough decline	-95.30%	-91.90%	-3.40%
Max Drawdown (1Y) Largest decline over 1 year	-59.43%	-49.99%	-9.44%
Max Drawdown (3Y) Largest decline over 3 years	-71.59%	-57.00%	-14.59%
Max Drawdown (5Y) Largest decline over 5 years	-77.69%	-91.90%	+14.21%
Max Drawdown (10Y) Largest decline over 10 years	-79.99%	—	—
Current Drawdown Current decline from peak	-75.07%	-17.44%	-57.63%
Average Drawdown Average peak-to-trough decline	-42.49%	-42.52%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.86%	25.13%	+16.73%

Volatility

WPP vs. APP - Volatility Comparison

The current volatility for WPP plc (WPP) is 11.36%, while AppLovin Corporation (APP) has a volatility of 19.94%. This indicates that WPP 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.

Volatility by Period

	WPP	APP	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.36%	19.94%	-8.58%
Volatility (6M) Calculated over the trailing 6-month period	32.03%	58.33%	-26.30%
Volatility (1Y) Calculated over the trailing 1-year period	47.39%	70.60%	-23.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.58%	77.73%	-43.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.01%	77.53%	-42.52%

Dividends

WPP vs. APP - Dividend Comparison

WPP's dividend yield for the trailing twelve months is around 10.85%, while APP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APP AppLovin Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WPP WPP plc	10.85%	9.09%	4.85%	5.09%	4.38%	2.45%	5.66%	5.47%	7.35%	4.32%	3.01%	2.81%

Financials

WPP vs. APP - Profitability Comparison

The chart below illustrates the profitability comparison between WPP plc and AppLovin Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WPP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, WPP plc reported a gross profit of 1.31B and revenue of 6.89B. Therefore, the gross margin over that period was 19.0%.

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%.

WPP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, WPP plc reported an operating income of 161.00M and revenue of 6.89B, resulting in an operating margin of 2.3%.

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%.

WPP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, WPP plc reported a net income of -259.00M and revenue of 6.89B, resulting in a net margin of -3.8%.

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

Can I hold both WPP and APP in my portfolio?

WPP and APP have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WPP or APP?

APP has higher volatility (19.94%) compared to WPP (11.36%). In terms of maximum drawdown, WPP dropped -95.30% vs APP's -91.90%.

Which has better risk-adjusted returns?

APP currently has the higher Sharpe Ratio (0.72 vs -1.04), 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.