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Correlation Analysis

Alphabet Inc. Class C Capital Stock vs Apollo Global Management, Inc.

GOOG vs APO

+0.684

Strong positive

When one moves up, the other tends to follow.

GOOG logo

Alphabet Inc. Class C Capital Stock

GOOG

Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV and YouTube Music, among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform accounts for roughly 10% of Alphabet's revenue. The firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) make up the rest.

Market cap 3.6T · 190,820 employees

APO logo

Apollo Global Management, Inc.

APO

Apollo is one of the world's largest alternative asset managers, with $938.4 billion in total assets under management, or AUM, including $709.1 billion in fee-earning assets, at the end of 2025. The company has two core operating segments: asset management and retirement services. Apollo operates with scale in each of its major product lines—private equity (with $128.4 billion in total AUM and $75.0 billion in fee-earning AUM), real estate/real assets ($60.8 billion/$27.6 billion), and credit ($749.2 billion/$606.5 billion). Apollo has a distribution profile that is likely not too far off from the industry averages—with 84% of its assets held by institutional investors and 16% by high-net-worth clients.

Market cap 61.4B · 4,130 employees

Apr 9, 2021 — Apr 7, 2026Daily1,254 observationsStockStockTechnology

Time Series

Rebased to 100

Green: GOOGGray: APO36 of 1,254 points (sampled)

Who Moves First

APO leads GOOG by 6 days

APO tends to move before GOOG.

Best correlation after shifting: +0.691 (13 shifts scanned)

Do They Crash Together?

Correlation by Market Regime

How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.

Both Rising

+0.396

17 periods · Return correlation when both series rose

Both Falling

+0.469

8 periods · Return correlation when both series fell

Diverging

-0.544

10 periods · Return correlation when series moved apart

R-Squared

46.7%

Share of variance in one series explained by the other.

Trend Agreement

64.9%

How often both series moved in the same direction period-to-period.

Overlap Quality

1,254

Deep shared window — 1,254 usable pairs.

Significance

p < 0.001

95% CI: [0.653, 0.712]

Scatter

XY Regression

72.7100150200250300326.937.2406080100120140160179.4Alphabet Inc. Class C Capital StockApollo Global Management, Inc.Data pointsFit (r = 0.684)

Pipeline

Data quality details

Pipeline Summary

1,254 paired observations survived the daily window.

Raw input

1,254

1,254

Normalized

1,254

1,254

Prepared

1,254

1,254

Aligned

1,254

1,254

Invalid removed

0

A: 0 / B: 0

Duplicates removed

0

A: 0 / B: 0

Alignment drops

0

A: 0 / B: 0

Series A

GOOG logo

Alphabet Inc. Class C Capital Stock

GOOG

Market cap 3.6T · 190,820 employees

Stock · 1,254 raw → 1,254 prepared

Series B

APO logo

Apollo Global Management, Inc.

APO

Market cap 61.4B · 4,130 employees

Stock · 1,254 raw → 1,254 prepared

Sign agreement

100.0%

How often both values share the same sign.

Zero crossings

34

Estimated crossover points between normalized spreads.

Slope

0.4267

Linear regression slope.

Intercept

27.7776

Linear regression intercept.

Related Extremes

Highest and Lowest Correlated

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