Investment Managers

Apollo Global Management Inc. (New) vs KKR & Co. Inc.

WatchlistAPO / KKRPrices through Oct 22, 2026

Why these are rivals: #2 and #3 by market value ($78B vs $66B) in Nasdaq's "Investment Managers" industry; SEC SIC 6282 / 6282 (same major group).

Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.

Mean reversion: ADF t-statistic of the spread: -2.17 (needs <= -2.873 (5% critical value))

Business leadership

APO is the larger business

Annual revenue reported to the SEC. Scale, not market share.

Year	APO	KKR	Larger
2025	$32.0B	$19.5B	APO
2024	$26.1B	$21.9B	APO
2023	$32.6B	$14.5B	APO
2022	$11.0B	$5.7B	APO
2021	$6.0B	$16.2B	KKR
2020	$2.4B	$4.2B	KKR

Revenue lead switched: 2022 to APO. Market value: APO $65.5B, KKR $78.1B.

Stock leadership

APO is ahead now

Measured against the pair's own last 252 trading days.

APO leads KKR by 0.26 standard deviations: +2.0% over its usual price ratio. 1 lead switch in the last year.

Price change	3 mo	6 mo	12 mo
APO	-6.3%	-8.0%	-8.9%
KKR	-6.3%	-8.4%	-24.7%

Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass: Aligned sessions: 2521 (needs >= 254)
Pass: Co-movement: daily return correlation, 252 sessions: 0.80 (needs >= 0.60)
Fail: Mean reversion: ADF t-statistic of the spread: -2.17 (needs <= -2.873 (5% critical value))
Pass: Speed: half-life of the spread, sessions: 25.63 (needs <= 63)
Data: Both stocks current

The twins over two years

Prices side by side, and the gap between them

APO Apollo Global Management Inc. (New) KKR KKR & Co. Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).

Spread z-score: APO relative to KKR, against the 252 sessions before each day. Above 0: APO ahead; below 0: KKR ahead. Lines at +/-2 (idea) and +/-4 (stop).

Data table (504 sessions)

Date	APO index	KKR index	z	Ahead
2026-10-22	79.19	66.58	+0.26	near the usual relationship
2026-10-21	77.02	64.28	+0.36	near the usual relationship
2026-10-20	76.70	63.81	+0.41	near the usual relationship
2026-10-19	76.51	62.23	+0.70	APO ahead
2026-10-16	76.39	61.66	+0.80	APO ahead
2026-10-15	77.15	62.68	+0.72	APO ahead
2026-10-14	78.19	61.23	+1.18	APO ahead
2026-10-13	80.19	62.34	+1.27	APO ahead
2026-10-12	82.22	65.45	+0.99	APO ahead
2026-10-09	81.82	65.05	+1.01	APO ahead
2026-10-08	79.51	64.06	+0.86	APO ahead
2026-10-07	79.68	64.14	+0.88	APO ahead
2026-10-06	79.96	64.85	+0.79	APO ahead
2026-10-05	79.55	64.34	+0.83	APO ahead
2026-10-02	78.63	64.58	+0.66	APO ahead
2026-10-01	78.85	65.26	+0.57	APO ahead
2026-09-30	80.04	65.30	+0.74	APO ahead
2026-09-29	82.06	66.65	+0.80	APO ahead
2026-09-28	82.06	66.69	+0.80	APO ahead
2026-09-25	83.92	69.14	+0.65	APO ahead
2026-09-24	83.23	68.41	+0.69	APO ahead
2026-09-23	85.76	69.53	+0.84	APO ahead
2026-09-22	85.61	70.41	+0.69	APO ahead
2026-09-21	88.21	72.12	+0.76	APO ahead
2026-09-18	86.83	70.67	+0.81	APO ahead
2026-09-17	86.89	70.23	+0.90	APO ahead
2026-09-16	85.88	69.27	+0.92	APO ahead
2026-09-15	87.58	71.53	+0.80	APO ahead
2026-09-14	88.48	73.15	+0.67	APO ahead
2026-09-11	88.95	72.30	+0.85	APO ahead
2026-09-10	88.21	72.15	+0.80	APO ahead
2026-09-09	90.32	74.45	+0.72	APO ahead
2026-09-08	90.90	75.62	+0.63	APO ahead
2026-09-04	92.18	77.05	+0.59	APO ahead
2026-09-03	92.75	78.51	+0.47	near the usual relationship
2026-09-02	91.23	76.12	+0.62	APO ahead
2026-09-01	90.81	76.11	+0.58	APO ahead
2026-08-31	94.19	78.48	+0.65	APO ahead
2026-08-28	93.12	77.73	+0.64	APO ahead
2026-08-27	92.02	78.19	+0.47	near the usual relationship
2026-08-26	92.18	77.61	+0.56	APO ahead
2026-08-25	91.84	76.95	+0.62	APO ahead
2026-08-24	91.57	76.76	+0.62	APO ahead
2026-08-21	91.50	77.59	+0.51	APO ahead
2026-08-20	89.64	76.55	+0.45	near the usual relationship
2026-08-19	92.15	79.01	+0.42	near the usual relationship
2026-08-18	92.30	76.67	+0.73	APO ahead
2026-08-17	92.78	77.84	+0.64	APO ahead
2026-08-14	97.07	81.55	+0.63	APO ahead
2026-08-13	99.01	82.47	+0.72	APO ahead
2026-08-12	95.59	79.32	+0.76	APO ahead
2026-08-11	96.74	79.37	+0.87	APO ahead
2026-08-10	91.04	74.27	+0.93	APO ahead
2026-08-07	87.88	73.54	+0.70	APO ahead
2026-08-06	88.26	73.92	+0.70	APO ahead
2026-08-05	89.47	75.57	+0.63	APO ahead
2026-08-04	91.86	77.40	+0.66	APO ahead
2026-08-03	89.25	76.22	+0.54	APO ahead
2026-07-31	86.61	72.55	+0.72	APO ahead
2026-07-30	82.93	72.23	+0.37	near the usual relationship
2026-07-29	82.59	71.01	+0.50	APO ahead
2026-07-28	85.99	73.43	+0.56	APO ahead
2026-07-27	85.68	72.69	+0.63	APO ahead
2026-07-24	84.55	71.07	+0.72	APO ahead
2026-07-23	82.06	68.64	+0.77	APO ahead
2026-07-22	82.09	68.33	+0.82	APO ahead
2026-07-21	81.65	69.46	+0.63	APO ahead
2026-07-20	81.54	69.36	+0.63	APO ahead
2026-07-17	83.08	72.20	+0.45	near the usual relationship
2026-07-16	85.06	73.49	+0.50	APO ahead
2026-07-15	84.01	72.21	+0.55	APO ahead
2026-07-14	82.70	69.53	+0.76	APO ahead
2026-07-13	81.95	69.32	+0.71	APO ahead
2026-07-10	82.99	69.34	+0.83	APO ahead
2026-07-09	82.64	68.86	+0.86	APO ahead
2026-07-08	81.47	66.73	+1.02	APO ahead
2026-07-07	82.29	68.05	+0.94	APO ahead
2026-07-06	84.25	68.64	+1.08	APO ahead
2026-07-02	81.79	67.12	+1.02	APO ahead
2026-07-01	81.68	66.20	+1.14	APO ahead
2026-06-30	81.59	65.65	+1.22	APO ahead
2026-06-29	79.19	63.61	+1.24	APO ahead
2026-06-26	81.57	64.47	+1.41	APO ahead
2026-06-25	83.79	66.27	+1.41	APO ahead
2026-06-24	84.55	65.45	+1.62	APO ahead
2026-06-23	90.07	66.88	+2.03	APO ahead
2026-06-22	93.24	69.31	+2.04	APO ahead
2026-06-18	94.82	69.39	+2.22	APO ahead
2026-06-17	95.79	69.50	+2.34	APO ahead
2026-06-16	95.50	70.79	+2.16	APO ahead
2026-06-15	93.86	70.15	+2.11	APO ahead
2026-06-12	92.32	68.84	+2.16	APO ahead
2026-06-11	92.35	68.16	+2.29	APO ahead
2026-06-10	90.44	67.96	+2.14	APO ahead
2026-06-09	91.51	68.55	+2.21	APO ahead
2026-06-08	87.97	66.67	+2.12	APO ahead
2026-06-05	88.29	66.80	+2.16	APO ahead
2026-06-04	88.55	68.28	+1.99	APO ahead
2026-06-03	85.75	64.75	+2.24	APO ahead
2026-06-02	88.79	67.56	+2.19	APO ahead
2026-06-01	88.42	67.96	+2.11	APO ahead
2026-05-29	88.76	68.62	+2.08	APO ahead
2026-05-28	87.93	67.26	+2.22	APO ahead
2026-05-27	89.84	67.97	+2.37	APO ahead
2026-05-26	89.59	67.94	+2.38	APO ahead
2026-05-22	88.62	67.26	+2.41	APO ahead
2026-05-21	90.27	67.78	+2.58	APO ahead
2026-05-20	91.19	67.48	+2.79	APO ahead
2026-05-19	90.44	66.46	+2.93	APO ahead
2026-05-18	92.46	68.64	+2.86	APO ahead
2026-05-15	93.36	69.36	+2.91	APO ahead
2026-05-14	93.46	71.22	+2.65	APO ahead
2026-05-13	90.75	69.69	+2.60	APO ahead
2026-05-12	90.98	71.15	+2.40	APO ahead
2026-05-11	89.97	71.14	+2.30	APO ahead
2026-05-08	91.86	73.33	+2.21	APO ahead
2026-05-07	88.12	71.77	+1.97	APO ahead
2026-05-06	89.32	72.09	+2.11	APO ahead
2026-05-05	89.86	72.96	+2.05	APO ahead
2026-05-04	89.09	73.91	+1.78	APO ahead
2026-05-01	89.97	74.16	+1.87	APO ahead
2026-04-30	88.77	74.63	+1.61	APO ahead
2026-04-29	84.33	71.04	+1.59	APO ahead
2026-04-28	85.21	72.53	+1.46	APO ahead
2026-04-27	85.05	72.03	+1.54	APO ahead
2026-04-24	85.69	72.83	+1.49	APO ahead
2026-04-23	86.04	72.70	+1.57	APO ahead
2026-04-22	89.00	75.76	+1.47	APO ahead
2026-04-21	87.76	74.71	+1.47	APO ahead
2026-04-20	87.81	74.33	+1.55	APO ahead
2026-04-17	85.94	74.10	+1.30	APO ahead
2026-04-16	83.31	72.97	+1.09	APO ahead
2026-04-15	83.13	74.28	+0.82	APO ahead
2026-04-14	79.18	71.83	+0.61	APO ahead
2026-04-13	75.82	70.20	+0.34	near the usual relationship
2026-04-10	71.91	65.25	+0.61	APO ahead
2026-04-09	73.77	66.40	+0.71	APO ahead
2026-04-08	73.82	67.21	+0.56	APO ahead
2026-04-07	72.66	64.91	+0.80	APO ahead
2026-04-06	73.17	65.12	+0.85	APO ahead
2026-04-02	73.82	65.25	+0.94	APO ahead
2026-04-01	76.03	65.35	+1.31	APO ahead
2026-03-31	76.84	66.16	+1.29	APO ahead
2026-03-30	75.82	64.63	+1.42	APO ahead
2026-03-27	74.77	63.30	+1.51	APO ahead
2026-03-26	75.84	64.37	+1.48	APO ahead
2026-03-25	75.72	63.59	+1.62	APO ahead
2026-03-24	76.72	65.02	+1.50	APO ahead
2026-03-23	76.17	64.97	+1.41	APO ahead
2026-03-20	77.24	64.37	+1.72	APO ahead
2026-03-19	76.80	64.80	+1.56	APO ahead
2026-03-18	76.68	64.82	+1.54	APO ahead
2026-03-17	75.09	63.64	+1.51	APO ahead
2026-03-16	71.34	61.58	+1.27	APO ahead
2026-03-13	72.02	61.46	+1.42	APO ahead
2026-03-12	69.17	60.00	+1.21	APO ahead
2026-03-11	73.17	62.32	+1.46	APO ahead
2026-03-10	74.59	64.34	+1.30	APO ahead
2026-03-09	74.57	65.05	+1.15	APO ahead
2026-03-06	74.96	65.32	+1.17	APO ahead
2026-03-05	76.71	68.37	+0.87	APO ahead
2026-03-04	75.71	67.11	+0.95	APO ahead
2026-03-03	73.84	64.77	+1.10	APO ahead
2026-03-02	73.41	64.81	+1.01	APO ahead
2026-02-27	72.13	62.71	+1.23	APO ahead
2026-02-26	78.89	66.96	+1.56	APO ahead
2026-02-25	80.83	69.12	+1.47	APO ahead
2026-02-24	78.70	68.46	+1.24	APO ahead
2026-02-23	78.43	65.94	+1.72	APO ahead
2026-02-20	82.56	72.37	+1.15	APO ahead
2026-02-19	81.61	72.70	+0.93	APO ahead
2026-02-18	86.45	74.10	+1.46	APO ahead
2026-02-17	86.30	73.35	+1.59	APO ahead
2026-02-13	86.25	72.76	+1.71	APO ahead
2026-02-12	86.46	72.33	+1.84	APO ahead
2026-02-11	87.55	75.14	+1.50	APO ahead
2026-02-10	91.32	76.68	+1.82	APO ahead
2026-02-09	92.37	76.74	+2.00	APO ahead
2026-02-06	91.74	73.81	+2.49	APO ahead
2026-02-05	86.95	70.93	+2.32	APO ahead
2026-02-04	91.58	74.94	+2.31	APO ahead
2026-02-03	87.48	73.87	+1.87	APO ahead
2026-02-02	91.85	81.80	+1.10	APO ahead
2026-01-30	92.78	81.73	+1.27	APO ahead
2026-01-29	92.75	82.24	+1.18	APO ahead
2026-01-28	91.64	83.52	+0.78	APO ahead
2026-01-27	90.84	82.97	+0.75	APO ahead
2026-01-26	90.72	84.87	+0.40	near the usual relationship
2026-01-23	94.00	86.72	+0.61	APO ahead
2026-01-22	96.36	88.32	+0.71	APO ahead
2026-01-21	96.22	88.93	+0.60	APO ahead
2026-01-20	95.61	87.91	+0.67	APO ahead
2026-01-16	99.22	94.00	+0.23	near the usual relationship
2026-01-15	99.41	93.93	+0.27	near the usual relationship
2026-01-14	99.34	94.47	+0.17	near the usual relationship
2026-01-13	98.78	93.04	+0.31	near the usual relationship
2026-01-12	99.24	95.82	-0.05	near the usual relationship
2026-01-09	100.56	96.31	+0.06	near the usual relationship
2026-01-08	100.81	95.59	+0.21	near the usual relationship
2026-01-07	99.50	93.58	+0.33	near the usual relationship
2026-01-06	105.30	97.15	+0.62	APO ahead
2026-01-05	103.28	96.25	+0.47	near the usual relationship
2026-01-02	101.10	92.20	+0.79	APO ahead
2025-12-31	99.83	91.18	+0.77	APO ahead
2025-12-30	100.72	92.01	+0.77	APO ahead
2025-12-29	101.56	92.57	+0.80	APO ahead
2025-12-26	102.42	93.28	+0.81	APO ahead
2025-12-24	102.65	93.54	+0.80	APO ahead
2025-12-23	102.32	93.70	+0.72	APO ahead
2025-12-22	102.68	94.00	+0.72	APO ahead
2025-12-19	100.92	93.42	+0.56	APO ahead
2025-12-18	100.89	94.39	+0.40	near the usual relationship
2025-12-17	100.96	94.52	+0.38	near the usual relationship
2025-12-16	101.48	95.40	+0.32	near the usual relationship
2025-12-15	101.26	96.42	+0.13	near the usual relationship
2025-12-12	102.10	97.70	+0.05	near the usual relationship
2025-12-11	103.67	102.12	-0.37	near the usual relationship
2025-12-10	102.81	101.24	-0.37	near the usual relationship
2025-12-09	99.23	97.12	-0.29	near the usual relationship
2025-12-08	94.74	93.15	-0.36	near the usual relationship
2025-12-05	95.26	92.57	-0.19	near the usual relationship
2025-12-04	94.30	91.86	-0.22	near the usual relationship
2025-12-03	92.75	90.47	-0.24	near the usual relationship
2025-12-02	91.08	87.75	-0.06	near the usual relationship
2025-12-01	90.61	87.40	-0.08	near the usual relationship
2025-11-28	90.92	87.48	-0.04	near the usual relationship
2025-11-26	89.84	86.42	-0.04	near the usual relationship
2025-11-25	90.08	86.41	+0.00	near the usual relationship
2025-11-24	89.72	84.29	+0.31	near the usual relationship
2025-11-21	89.66	84.88	+0.20	near the usual relationship
2025-11-20	87.41	81.83	+0.36	near the usual relationship
2025-11-19	87.72	84.04	+0.02	near the usual relationship
2025-11-18	85.73	81.67	+0.11	near the usual relationship
2025-11-17	85.75	81.55	+0.13	near the usual relationship
2025-11-14	90.06	85.77	+0.11	near the usual relationship
2025-11-13	88.76	86.37	-0.20	near the usual relationship
2025-11-12	92.12	88.03	+0.06	near the usual relationship
2025-11-11	91.64	86.80	+0.19	near the usual relationship
2025-11-10	90.28	85.91	+0.13	near the usual relationship
2025-11-07	91.28	86.77	+0.14	near the usual relationship
2025-11-06	88.95	85.34	+0.01	near the usual relationship
2025-11-05	92.24	85.04	+0.60	APO ahead
2025-11-04	90.00	84.61	+0.32	near the usual relationship
2025-11-03	85.48	84.14	-0.35	near the usual relationship
2025-10-31	85.73	84.64	-0.39	near the usual relationship
2025-10-30	85.13	84.48	-0.47	near the usual relationship
2025-10-29	86.12	84.79	-0.35	near the usual relationship
2025-10-28	85.84	86.27	-0.65	KKR ahead
2025-10-27	87.15	87.45	-0.63	KKR ahead
2025-10-24	86.20	86.72	-0.66	KKR ahead
2025-10-23	84.86	86.52	-0.86	KKR ahead
2025-10-22	87.26	88.19	-0.73	KKR ahead
2025-10-21	86.88	88.46	-0.84	KKR ahead
2025-10-20	86.33	85.91	-0.51	KKR ahead
2025-10-17	83.70	84.11	-0.65	KKR ahead
2025-10-16	83.33	84.06	-0.71	KKR ahead
2025-10-15	88.06	89.02	-0.74	KKR ahead
2025-10-14	88.02	90.11	-0.93	KKR ahead
2025-10-13	84.44	86.15	-0.88	KKR ahead
2025-10-10	81.53	84.27	-1.07	KKR ahead
2025-10-09	85.19	88.73	-1.19	KKR ahead
2025-10-08	86.06	89.21	-1.12	KKR ahead
2025-10-07	86.93	89.21	-0.97	KKR ahead
2025-10-06	87.37	90.74	-1.15	KKR ahead
2025-10-03	86.81	91.30	-1.34	KKR ahead
2025-10-02	87.74	89.14	-0.82	KKR ahead
2025-10-01	89.61	91.17	-0.83	KKR ahead
2025-09-30	91.90	92.95	-0.74	KKR ahead
2025-09-29	95.47	96.19	-0.67	KKR ahead
2025-09-26	94.91	95.85	-0.70	KKR ahead
2025-09-25	93.88	97.03	-1.02	KKR ahead
2025-09-24	94.59	98.66	-1.14	KKR ahead
2025-09-23	99.92	105.32	-1.28	KKR ahead
2025-09-22	99.28	105.11	-1.32	KKR ahead
2025-09-19	99.82	106.52	-1.42	KKR ahead
2025-09-18	98.95	106.82	-1.58	KKR ahead
2025-09-17	95.73	103.28	-1.56	KKR ahead
2025-09-16	96.58	103.27	-1.43	KKR ahead
2025-09-15	95.50	103.46	-1.60	KKR ahead
2025-09-12	95.19	102.52	-1.51	KKR ahead
2025-09-11	94.06	103.72	-1.82	KKR ahead
2025-09-10	92.16	99.63	-1.54	KKR ahead
2025-09-09	92.70	98.27	-1.27	KKR ahead
2025-09-08	92.71	99.20	-1.39	KKR ahead
2025-09-05	90.72	96.94	-1.36	KKR ahead
2025-09-04	92.93	98.24	-1.21	KKR ahead
2025-09-03	91.46	96.44	-1.17	KKR ahead
2025-09-02	93.68	99.23	-1.22	KKR ahead
2025-08-29	93.95	99.77	-1.25	KKR ahead
2025-08-28	94.06	100.20	-1.28	KKR ahead
2025-08-27	93.59	100.47	-1.37	KKR ahead
2025-08-26	92.68	100.19	-1.45	KKR ahead
2025-08-25	92.33	99.21	-1.37	KKR ahead
2025-08-22	92.55	101.40	-1.61	KKR ahead
2025-08-21	92.41	98.59	-1.26	KKR ahead
2025-08-20	93.33	98.77	-1.15	KKR ahead
2025-08-19	94.53	99.38	-1.06	KKR ahead
2025-08-18	96.12	100.99	-1.04	KKR ahead
2025-08-15	96.12	101.77	-1.12	KKR ahead
2025-08-14	97.01	104.47	-1.33	KKR ahead
2025-08-13	97.20	105.47	-1.41	KKR ahead
2025-08-12	99.72	105.31	-1.07	KKR ahead
2025-08-11	98.01	101.26	-0.79	KKR ahead
2025-08-08	97.90	102.05	-0.90	KKR ahead
2025-08-07	97.31	101.70	-0.92	KKR ahead
2025-08-06	100.59	103.40	-0.72	KKR ahead
2025-08-05	100.37	102.04	-0.58	KKR ahead
2025-08-04	97.94	103.81	-1.09	KKR ahead
2025-08-01	95.37	101.96	-1.20	KKR ahead
2025-07-31	100.21	104.84	-0.94	KKR ahead
2025-07-30	100.31	107.60	-1.25	KKR ahead
2025-07-29	101.94	108.00	-1.10	KKR ahead
2025-07-28	102.54	108.83	-1.13	KKR ahead
2025-07-25	104.22	108.83	-0.94	KKR ahead
2025-07-24	104.57	107.42	-0.74	KKR ahead
2025-07-23	104.72	106.04	-0.56	KKR ahead
2025-07-22	103.20	103.69	-0.47	near the usual relationship
2025-07-21	102.54	103.20	-0.49	near the usual relationship
2025-07-18	104.82	104.41	-0.36	near the usual relationship
2025-07-17	107.61	105.57	-0.17	near the usual relationship
2025-07-16	105.31	102.32	-0.06	near the usual relationship
2025-07-15	100.49	98.14	-0.12	near the usual relationship
2025-07-14	102.43	99.73	-0.09	near the usual relationship
2025-07-11	101.50	100.89	-0.34	near the usual relationship
2025-07-10	102.21	102.32	-0.43	near the usual relationship
2025-07-09	101.13	99.58	-0.23	near the usual relationship
2025-07-08	100.00	98.66	-0.26	near the usual relationship
2025-07-07	97.60	96.95	-0.35	near the usual relationship
2025-07-03	99.63	99.13	-0.37	near the usual relationship
2025-07-02	98.46	96.22	-0.15	near the usual relationship
2025-07-01	97.67	94.74	-0.06	near the usual relationship
2025-06-30	97.83	95.15	-0.10	near the usual relationship
2025-06-27	98.56	96.05	-0.13	near the usual relationship
2025-06-26	96.10	94.37	-0.22	near the usual relationship
2025-06-25	94.98	92.15	-0.07	near the usual relationship
2025-06-24	96.48	91.39	+0.22	near the usual relationship
2025-06-23	92.43	87.36	+0.25	near the usual relationship
2025-06-20	92.77	87.69	+0.25	near the usual relationship
2025-06-18	91.78	87.56	+0.14	near the usual relationship
2025-06-17	91.28	86.59	+0.21	near the usual relationship
2025-06-16	92.48	88.26	+0.14	near the usual relationship
2025-06-13	91.10	86.78	+0.16	near the usual relationship
2025-06-12	95.24	89.58	+0.32	near the usual relationship
2025-06-11	95.19	90.12	+0.23	near the usual relationship
2025-06-10	93.52	88.71	+0.21	near the usual relationship
2025-06-09	92.07	88.16	+0.09	near the usual relationship
2025-06-06	92.03	88.26	+0.07	near the usual relationship
2025-06-05	89.84	86.29	+0.05	near the usual relationship
2025-06-04	89.86	86.20	+0.06	near the usual relationship
2025-06-03	90.41	86.17	+0.14	near the usual relationship
2025-06-02	90.01	87.17	-0.06	near the usual relationship
2025-05-30	90.12	86.88	+0.00	near the usual relationship
2025-05-29	90.82	87.50	+0.01	near the usual relationship
2025-05-28	90.69	86.57	+0.12	near the usual relationship
2025-05-27	91.84	86.49	+0.28	near the usual relationship
2025-05-23	90.25	83.81	+0.46	near the usual relationship
2025-05-22	90.21	84.54	+0.35	near the usual relationship
2025-05-21	90.12	84.23	+0.38	near the usual relationship
2025-05-20	96.06	88.79	+0.52	APO ahead
2025-05-19	98.34	89.76	+0.68	APO ahead
2025-05-16	99.19	90.05	+0.75	APO ahead
2025-05-15	99.30	89.86	+0.79	APO ahead
2025-05-14	99.47	92.29	+0.48	near the usual relationship
2025-05-13	100.04	90.77	+0.76	APO ahead
2025-05-12	98.92	89.56	+0.79	APO ahead
2025-05-09	91.35	84.46	+0.53	APO ahead
2025-05-08	91.85	84.92	+0.53	APO ahead
2025-05-07	89.19	83.12	+0.43	near the usual relationship
2025-05-06	89.17	81.29	+0.70	APO ahead
2025-05-05	92.39	82.10	+1.01	APO ahead
2025-05-02	93.35	83.63	+0.91	APO ahead
2025-05-01	95.09	81.89	+1.40	APO ahead
2025-04-30	94.12	81.73	+1.30	APO ahead
2025-04-29	94.86	81.79	+1.39	APO ahead
2025-04-28	94.03	81.49	+1.33	APO ahead
2025-04-25	91.99	81.27	+1.10	APO ahead
2025-04-24	91.94	81.00	+1.13	APO ahead
2025-04-23	87.27	76.40	+1.21	APO ahead
2025-04-22	85.31	73.16	+1.48	APO ahead
2025-04-21	82.50	70.06	+1.61	APO ahead
2025-04-17	87.43	73.94	+1.67	APO ahead
2025-04-16	86.35	72.99	+1.69	APO ahead
2025-04-15	88.16	74.55	+1.70	APO ahead
2025-04-14	86.56	73.76	+1.61	APO ahead
2025-04-11	86.84	72.56	+1.87	APO ahead
2025-04-10	85.46	72.86	+1.63	APO ahead
2025-04-09	88.58	79.01	+1.05	APO ahead
2025-04-08	76.14	67.60	+1.11	APO ahead
2025-04-07	77.48	69.77	+0.94	APO ahead
2025-04-04	74.95	66.37	+1.15	APO ahead
2025-04-03	85.13	73.35	+1.51	APO ahead
2025-04-02	97.59	86.47	+1.16	APO ahead
2025-04-01	95.42	84.29	+1.20	APO ahead
2025-03-31	94.43	82.69	+1.32	APO ahead
2025-03-28	94.45	82.15	+1.42	APO ahead
2025-03-27	97.94	84.07	+1.60	APO ahead
2025-03-26	99.74	85.43	+1.64	APO ahead
2025-03-25	101.99	87.39	+1.64	APO ahead
2025-03-24	102.34	87.24	+1.72	APO ahead
2025-03-21	98.90	83.33	+1.89	APO ahead
2025-03-20	99.83	83.48	+2.01	APO ahead
2025-03-19	98.89	83.36	+1.91	APO ahead
2025-03-18	94.78	81.55	+1.65	APO ahead
2025-03-17	95.65	82.74	+1.58	APO ahead
2025-03-14	92.63	81.05	+1.44	APO ahead
2025-03-13	89.81	77.74	+1.60	APO ahead
2025-03-12	93.04	81.80	+1.39	APO ahead
2025-03-11	89.94	80.19	+1.20	APO ahead
2025-03-10	86.90	77.37	+1.22	APO ahead
2025-03-07	91.30	82.45	+1.03	APO ahead
2025-03-06	92.95	83.06	+1.18	APO ahead
2025-03-05	96.91	88.00	+0.96	APO ahead
2025-03-04	95.11	86.39	+0.95	APO ahead
2025-03-03	99.70	95.14	+0.27	near the usual relationship
2025-02-28	102.94	96.98	+0.44	near the usual relationship
2025-02-27	101.68	94.56	+0.62	APO ahead
2025-02-26	101.82	94.90	+0.58	APO ahead
2025-02-25	100.20	92.69	+0.68	APO ahead
2025-02-24	101.97	93.83	+0.75	APO ahead
2025-02-21	103.82	94.57	+0.88	APO ahead
2025-02-20	108.12	96.24	+1.20	APO ahead
2025-02-19	110.52	99.04	+1.10	APO ahead
2025-02-18	111.76	100.57	+1.05	APO ahead
2025-02-14	112.28	100.54	+1.11	APO ahead
2025-02-13	108.90	99.64	+0.82	APO ahead
2025-02-12	108.57	99.81	+0.76	APO ahead
2025-02-11	109.01	101.90	+0.53	APO ahead
2025-02-10	111.83	105.81	+0.36	near the usual relationship
2025-02-07	112.72	106.29	+0.41	near the usual relationship
2025-02-06	113.70	108.43	+0.25	near the usual relationship
2025-02-05	114.30	110.01	+0.12	near the usual relationship
2025-02-04	112.12	106.79	+0.26	near the usual relationship
2025-02-03	115.25	116.74	-0.58	KKR ahead
2025-01-31	117.91	119.50	-0.59	KKR ahead
2025-01-30	118.45	119.35	-0.52	KKR ahead
2025-01-29	117.99	118.95	-0.53	KKR ahead
2025-01-28	116.76	119.48	-0.74	KKR ahead
2025-01-27	115.34	115.30	-0.43	near the usual relationship
2025-01-24	118.65	118.40	-0.41	near the usual relationship
2025-01-23	117.06	118.26	-0.58	KKR ahead
2025-01-22	116.47	115.52	-0.34	near the usual relationship
2025-01-21	116.71	114.95	-0.25	near the usual relationship
2025-01-17	115.16	112.70	-0.17	near the usual relationship
2025-01-16	114.42	109.61	+0.11	near the usual relationship
2025-01-15	113.68	107.65	+0.25	near the usual relationship
2025-01-14	109.88	102.75	+0.42	near the usual relationship
2025-01-13	106.75	101.03	+0.25	near the usual relationship
2025-01-10	107.16	100.80	+0.33	near the usual relationship
2025-01-08	111.70	106.03	+0.21	near the usual relationship
2025-01-07	112.03	104.87	+0.38	near the usual relationship
2025-01-06	116.61	107.82	+0.54	APO ahead
2025-01-03	116.59	108.74	+0.43	near the usual relationship
2025-01-02	114.38	106.71	+0.42	near the usual relationship
2024-12-31	113.90	105.79	+0.48	near the usual relationship
2024-12-30	114.83	106.14	+0.54	APO ahead
2024-12-27	117.43	107.19	+0.70	APO ahead
2024-12-26	120.25	109.09	+0.79	APO ahead
2024-12-24	120.58	109.13	+0.82	APO ahead
2024-12-23	118.36	106.53	+0.89	APO ahead
2024-12-20	117.94	105.56	+0.97	APO ahead
2024-12-19	116.98	102.66	+1.23	APO ahead
2024-12-18	115.47	102.25	+1.12	APO ahead
2024-12-17	121.59	108.17	+1.06	APO ahead
2024-12-16	122.85	111.67	+0.78	APO ahead
2024-12-13	121.67	110.39	+0.80	APO ahead
2024-12-12	121.65	111.40	+0.68	APO ahead
2024-12-11	123.17	112.57	+0.70	APO ahead
2024-12-10	120.48	108.58	+0.88	APO ahead
2024-12-09	118.94	108.97	+0.66	APO ahead
2024-12-06	122.65	113.02	+0.58	APO ahead
2024-12-05	121.18	112.32	+0.50	APO ahead
2024-12-04	120.50	112.72	+0.37	near the usual relationship
2024-12-03	119.30	112.94	+0.21	near the usual relationship
2024-12-02	118.85	114.19	+0.02	near the usual relationship
2024-11-29	120.70	116.49	-0.04	near the usual relationship
2024-11-27	119.89	114.46	+0.08	near the usual relationship
2024-11-26	121.12	115.35	+0.10	near the usual relationship
2024-11-25	120.47	113.68	+0.20	near the usual relationship
2024-11-22	115.55	113.46	-0.29	near the usual relationship
2024-11-21	113.80	112.77	-0.40	near the usual relationship
2024-11-20	112.33	108.85	-0.14	near the usual relationship
2024-11-19	116.03	109.28	+0.18	near the usual relationship
2024-11-18	113.31	109.04	-0.08	near the usual relationship
2024-11-15	112.84	107.30	+0.05	near the usual relationship
2024-11-14	113.31	107.66	+0.05	near the usual relationship
2024-11-13	113.33	108.81	-0.08	near the usual relationship
2024-11-12	112.92	109.55	-0.20	near the usual relationship
2024-11-11	114.99	111.51	-0.20	near the usual relationship
2024-11-08	111.72	108.86	-0.26	near the usual relationship
2024-11-07	110.21	107.80	-0.31	near the usual relationship
2024-11-06	112.87	108.91	-0.18	near the usual relationship
2024-11-05	102.94	99.41	-0.19	near the usual relationship
2024-11-04	96.15	97.85	-0.75	KKR ahead
2024-11-01	97.23	98.40	-0.69	KKR ahead
2024-10-31	98.79	98.88	-0.58	KKR ahead
2024-10-30	100.59	100.26	-0.55	KKR ahead
2024-10-29	100.70	99.66	-0.48	near the usual relationship
2024-10-28	99.88	100.67	-0.66	KKR ahead
2024-10-25	98.68	100.05	-0.72	KKR ahead
2024-10-24	100.88	102.48	-0.75	KKR ahead
2024-10-23	98.99	99.10	-0.61	KKR ahead
2024-10-22	99.26	100.26	-0.70	KKR ahead
2024-10-21	99.83	100.54	-0.68	KKR ahead
2024-10-18	100.00	100.00	-0.62	KKR ahead

One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Feb 4, 2025 (APO -2.7%, KKR -8.5%). Upcoming earnings: APO Nov 3, 2026 (pre-market).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

No paper position on this pair yet.

Historical simulation (a diagnostic, same rules)

3 simulated trades to Oct 20, 2026: -2.10% per trade on average after costs, 1 won.

Legs	Entered	Exited	Why	Days	Before costs	Costs + borrow	After costs
Long KKR · Short APO	Feb 17, 2022	Mar 14, 2022	divergence stop	25	-$736.56	-$44.92	-$798.98 (-7.99%)
Long KKR · Short APO	Aug 23, 2019	Dec 9, 2019	divergence stop	108	-$761.96	-$106.57	-$962.44 (-9.62%)
Long KKR · Short APO	Jun 17, 2019	Aug 1, 2019	converged	45	$1,262.14	-$92.49	$1,130.51 (+11.30%)

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

APO and KKR at a glance

APO Apollo Global Management Inc. (New)

Listing: NYSE · SEC CIK 1858681
Industry: Investment Managers · SIC 6282 Investment Advice
Market value: $65.5B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

KKR KKR & Co. Inc.

Listing: NYSE · SEC CIK 1404912
Industry: Investment Managers · SIC 6282 Investment Advice
Market value: $78.1B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

All pairs →

Pair	Status	Ahead now	Industry
BX / KKR	Measured twin	BX by 0.80 sd	Investment Managers
BX / APO	Measured twin	neither	Investment Managers
KKR / BAM	Watchlist	BAM by 1.17 sd	SIC 6282 Investment Advice

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Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.