Investment Managers

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

WatchlistAPO / KKRPrices through Nov 10, 2026

Why these are rivals: #2 and #3 by market value ($86B vs $67B) 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: -1.87 (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 $67.1B, KKR $86.2B.

Stock leadership

Neither is clearly ahead

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

The gap is 0.01 standard deviations, close to the usual relationship. 0 lead switches in the last year.

Price change	3 mo	6 mo	12 mo
APO	-11.4%	-7.0%	-7.3%
KKR	-9.1%	+1.4%	-16.9%

Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass: Aligned sessions: 2534 (needs >= 254)
Pass: Co-movement: daily return correlation, 252 sessions: 0.82 (needs >= 0.60)
Fail: Mean reversion: ADF t-statistic of the spread: -1.87 (needs <= -2.873 (5% critical value))
Pass: Speed: half-life of the spread, sessions: 27.07 (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 = 2024-11-06. 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
2026-11-10	74.99	66.23	-0.01	near the usual relationship
2026-11-09	74.66	64.42	+0.32	near the usual relationship
2026-11-06	71.33	63.36	-0.08	near the usual relationship
2026-11-05	71.65	64.56	-0.28	near the usual relationship
2026-11-04	75.00	66.55	-0.06	near the usual relationship
2026-11-03	69.38	63.04	-0.37	near the usual relationship
2026-11-02	72.99	64.37	+0.04	near the usual relationship
2026-10-30	70.78	61.99	+0.14	near the usual relationship
2026-10-29	72.44	62.93	+0.26	near the usual relationship
2026-10-28	69.32	61.10	+0.07	near the usual relationship
2026-10-27	69.81	60.37	+0.34	near the usual relationship
2026-10-26	69.88	60.17	+0.40	near the usual relationship
2026-10-23	68.94	59.99	+0.27	near the usual relationship
2026-10-22	70.16	61.13	+0.26	near the usual relationship
2026-10-21	68.24	59.02	+0.36	near the usual relationship
2026-10-20	67.95	58.59	+0.41	near the usual relationship
2026-10-19	67.79	57.14	+0.70	APO ahead
2026-10-16	67.68	56.62	+0.80	APO ahead
2026-10-15	68.35	57.55	+0.72	APO ahead
2026-10-14	69.28	56.22	+1.18	APO ahead
2026-10-13	71.05	57.24	+1.27	APO ahead
2026-10-12	72.84	60.10	+0.99	APO ahead
2026-10-09	72.49	59.73	+1.01	APO ahead
2026-10-08	70.45	58.82	+0.86	APO ahead
2026-10-07	70.60	58.89	+0.88	APO ahead
2026-10-06	70.84	59.55	+0.79	APO ahead
2026-10-05	70.48	59.08	+0.83	APO ahead
2026-10-02	69.66	59.30	+0.66	APO ahead
2026-10-01	69.86	59.92	+0.57	APO ahead
2026-09-30	70.91	59.96	+0.74	APO ahead
2026-09-29	72.71	61.19	+0.80	APO ahead
2026-09-28	72.71	61.23	+0.80	APO ahead
2026-09-25	74.35	63.49	+0.65	APO ahead
2026-09-24	73.74	62.81	+0.69	APO ahead
2026-09-23	75.98	63.84	+0.84	APO ahead
2026-09-22	75.85	64.65	+0.69	APO ahead
2026-09-21	78.15	66.22	+0.76	APO ahead
2026-09-18	76.93	64.89	+0.81	APO ahead
2026-09-17	76.98	64.48	+0.90	APO ahead
2026-09-16	76.09	63.60	+0.92	APO ahead
2026-09-15	77.60	65.67	+0.80	APO ahead
2026-09-14	78.40	67.16	+0.67	APO ahead
2026-09-11	78.80	66.38	+0.85	APO ahead
2026-09-10	78.15	66.24	+0.80	APO ahead
2026-09-09	80.03	68.36	+0.72	APO ahead
2026-09-08	80.53	69.44	+0.63	APO ahead
2026-09-04	81.67	70.75	+0.59	APO ahead
2026-09-03	82.17	72.08	+0.47	near the usual relationship
2026-09-02	80.83	69.90	+0.62	APO ahead
2026-09-01	80.46	69.88	+0.58	APO ahead
2026-08-31	83.45	72.06	+0.65	APO ahead
2026-08-28	82.51	71.37	+0.64	APO ahead
2026-08-27	81.53	71.79	+0.47	near the usual relationship
2026-08-26	81.67	71.26	+0.56	APO ahead
2026-08-25	81.37	70.65	+0.62	APO ahead
2026-08-24	81.13	70.48	+0.62	APO ahead
2026-08-21	81.07	71.24	+0.51	APO ahead
2026-08-20	79.42	70.28	+0.45	near the usual relationship
2026-08-19	81.65	72.54	+0.42	near the usual relationship
2026-08-18	81.78	70.39	+0.73	APO ahead
2026-08-17	82.20	71.47	+0.64	APO ahead
2026-08-14	86.00	74.87	+0.63	APO ahead
2026-08-13	87.73	75.72	+0.72	APO ahead
2026-08-12	84.69	72.83	+0.76	APO ahead
2026-08-11	85.71	72.88	+0.87	APO ahead
2026-08-10	80.66	68.19	+0.93	APO ahead
2026-08-07	77.86	67.52	+0.70	APO ahead
2026-08-06	78.20	67.87	+0.70	APO ahead
2026-08-05	79.27	69.38	+0.63	APO ahead
2026-08-04	81.38	71.06	+0.66	APO ahead
2026-08-03	79.07	69.98	+0.54	APO ahead
2026-07-31	76.73	66.61	+0.72	APO ahead
2026-07-30	73.47	66.32	+0.37	near the usual relationship
2026-07-29	73.18	65.20	+0.50	APO ahead
2026-07-28	76.18	67.42	+0.56	APO ahead
2026-07-27	75.91	66.74	+0.63	APO ahead
2026-07-24	74.91	65.25	+0.72	APO ahead
2026-07-23	72.71	63.03	+0.77	APO ahead
2026-07-22	72.73	62.74	+0.82	APO ahead
2026-07-21	72.34	63.77	+0.63	APO ahead
2026-07-20	72.24	63.68	+0.63	APO ahead
2026-07-17	73.61	66.29	+0.45	near the usual relationship
2026-07-16	75.36	67.48	+0.50	APO ahead
2026-07-15	74.44	66.30	+0.55	APO ahead
2026-07-14	73.28	63.84	+0.76	APO ahead
2026-07-13	72.60	63.64	+0.71	APO ahead
2026-07-10	73.53	63.66	+0.83	APO ahead
2026-07-09	73.22	63.22	+0.86	APO ahead
2026-07-08	72.18	61.27	+1.02	APO ahead
2026-07-07	72.91	62.48	+0.94	APO ahead
2026-07-06	74.64	63.03	+1.08	APO ahead
2026-07-02	72.47	61.63	+1.02	APO ahead
2026-07-01	72.37	60.79	+1.14	APO ahead
2026-06-30	72.29	60.27	+1.22	APO ahead
2026-06-29	70.16	58.41	+1.24	APO ahead
2026-06-26	72.27	59.19	+1.41	APO ahead
2026-06-25	74.24	60.85	+1.41	APO ahead
2026-06-24	74.91	60.10	+1.62	APO ahead
2026-06-23	79.80	61.40	+2.03	APO ahead
2026-06-22	82.61	63.64	+2.04	APO ahead
2026-06-18	84.01	63.71	+2.22	APO ahead
2026-06-17	84.87	63.81	+2.34	APO ahead
2026-06-16	84.61	65.00	+2.16	APO ahead
2026-06-15	83.16	64.41	+2.11	APO ahead
2026-06-12	81.80	63.20	+2.16	APO ahead
2026-06-11	81.82	62.59	+2.29	APO ahead
2026-06-10	80.12	62.40	+2.14	APO ahead
2026-06-09	81.08	62.94	+2.21	APO ahead
2026-06-08	77.94	61.21	+2.12	APO ahead
2026-06-05	78.22	61.34	+2.16	APO ahead
2026-06-04	78.46	62.69	+1.99	APO ahead
2026-06-03	75.98	59.45	+2.24	APO ahead
2026-06-02	78.67	62.03	+2.19	APO ahead
2026-06-01	78.34	62.40	+2.11	APO ahead
2026-05-29	78.64	63.01	+2.08	APO ahead
2026-05-28	77.91	61.75	+2.22	APO ahead
2026-05-27	79.59	62.41	+2.37	APO ahead
2026-05-26	79.37	62.38	+2.38	APO ahead
2026-05-22	78.52	61.76	+2.41	APO ahead
2026-05-21	79.98	62.23	+2.58	APO ahead
2026-05-20	80.80	61.96	+2.79	APO ahead
2026-05-19	80.13	61.02	+2.93	APO ahead
2026-05-18	81.91	63.03	+2.86	APO ahead
2026-05-15	82.72	63.68	+2.91	APO ahead
2026-05-14	82.80	65.39	+2.65	APO ahead
2026-05-13	80.41	63.99	+2.60	APO ahead
2026-05-12	80.61	65.32	+2.40	APO ahead
2026-05-11	79.71	65.32	+2.30	APO ahead
2026-05-08	81.38	67.33	+2.21	APO ahead
2026-05-07	78.08	65.90	+1.97	APO ahead
2026-05-06	79.14	66.19	+2.11	APO ahead
2026-05-05	79.61	66.99	+2.05	APO ahead
2026-05-04	78.93	67.86	+1.78	APO ahead
2026-05-01	79.71	68.09	+1.87	APO ahead
2026-04-30	78.65	68.52	+1.61	APO ahead
2026-04-29	74.71	65.23	+1.59	APO ahead
2026-04-28	75.50	66.59	+1.46	APO ahead
2026-04-27	75.35	66.13	+1.54	APO ahead
2026-04-24	75.92	66.87	+1.49	APO ahead
2026-04-23	76.23	66.75	+1.57	APO ahead
2026-04-22	78.85	69.56	+1.47	APO ahead
2026-04-21	77.75	68.60	+1.47	APO ahead
2026-04-20	77.80	68.25	+1.55	APO ahead
2026-04-17	76.14	68.04	+1.30	APO ahead
2026-04-16	73.81	67.00	+1.09	APO ahead
2026-04-15	73.65	68.20	+0.82	APO ahead
2026-04-14	70.15	65.96	+0.61	APO ahead
2026-04-13	67.18	64.45	+0.34	near the usual relationship
2026-04-10	63.71	59.91	+0.61	APO ahead
2026-04-09	65.36	60.96	+0.71	APO ahead
2026-04-08	65.41	61.71	+0.56	APO ahead
2026-04-07	64.37	59.60	+0.80	APO ahead
2026-04-06	64.83	59.80	+0.85	APO ahead
2026-04-02	65.40	59.91	+0.94	APO ahead
2026-04-01	67.36	60.00	+1.31	APO ahead
2026-03-31	68.08	60.75	+1.29	APO ahead
2026-03-30	67.18	59.34	+1.42	APO ahead
2026-03-27	66.24	58.12	+1.51	APO ahead
2026-03-26	67.20	59.10	+1.48	APO ahead
2026-03-25	67.09	58.39	+1.62	APO ahead
2026-03-24	67.97	59.70	+1.50	APO ahead
2026-03-23	67.48	59.66	+1.41	APO ahead
2026-03-20	68.43	59.11	+1.72	APO ahead
2026-03-19	68.05	59.50	+1.56	APO ahead
2026-03-18	67.94	59.52	+1.54	APO ahead
2026-03-17	66.53	58.43	+1.51	APO ahead
2026-03-16	63.21	56.54	+1.27	APO ahead
2026-03-13	63.81	56.43	+1.42	APO ahead
2026-03-12	61.28	55.09	+1.21	APO ahead
2026-03-11	64.83	57.22	+1.46	APO ahead
2026-03-10	66.09	59.08	+1.30	APO ahead
2026-03-09	66.07	59.72	+1.15	APO ahead
2026-03-06	66.41	59.98	+1.17	APO ahead
2026-03-05	67.97	62.78	+0.87	APO ahead
2026-03-04	67.08	61.62	+0.95	APO ahead
2026-03-03	65.42	59.47	+1.10	APO ahead
2026-03-02	65.04	59.51	+1.01	APO ahead
2026-02-27	63.91	57.58	+1.23	APO ahead
2026-02-26	69.90	61.48	+1.56	APO ahead
2026-02-25	71.61	63.46	+1.47	APO ahead
2026-02-24	69.73	62.86	+1.24	APO ahead
2026-02-23	69.49	60.54	+1.72	APO ahead
2026-02-20	73.15	66.45	+1.15	APO ahead
2026-02-19	72.30	66.75	+0.93	APO ahead
2026-02-18	76.59	68.04	+1.46	APO ahead
2026-02-17	76.46	67.35	+1.59	APO ahead
2026-02-13	76.42	66.81	+1.71	APO ahead
2026-02-12	76.60	66.41	+1.84	APO ahead
2026-02-11	77.56	69.00	+1.50	APO ahead
2026-02-10	80.91	70.41	+1.82	APO ahead
2026-02-09	81.84	70.46	+2.00	APO ahead
2026-02-06	81.28	67.77	+2.49	APO ahead
2026-02-05	77.03	65.13	+2.32	APO ahead
2026-02-04	81.14	68.81	+2.31	APO ahead
2026-02-03	77.50	67.83	+1.87	APO ahead
2026-02-02	81.38	75.10	+1.10	APO ahead
2026-01-30	82.20	75.04	+1.27	APO ahead
2026-01-29	82.17	75.51	+1.18	APO ahead
2026-01-28	81.19	76.69	+0.78	APO ahead
2026-01-27	80.48	76.18	+0.75	APO ahead
2026-01-26	80.38	77.92	+0.40	near the usual relationship
2026-01-23	83.28	79.63	+0.61	APO ahead
2026-01-22	85.37	81.09	+0.71	APO ahead
2026-01-21	85.25	81.65	+0.60	APO ahead
2026-01-20	84.71	80.71	+0.67	APO ahead
2026-01-16	87.91	86.31	+0.23	near the usual relationship
2026-01-15	88.07	86.24	+0.27	near the usual relationship
2026-01-14	88.02	86.74	+0.17	near the usual relationship
2026-01-13	87.52	85.43	+0.31	near the usual relationship
2026-01-12	87.93	87.98	-0.05	near the usual relationship
2026-01-09	89.09	88.43	+0.06	near the usual relationship
2026-01-08	89.32	87.77	+0.21	near the usual relationship
2026-01-07	88.15	85.92	+0.33	near the usual relationship
2026-01-06	93.30	89.20	+0.62	APO ahead
2026-01-05	91.50	88.38	+0.47	near the usual relationship
2026-01-02	89.58	84.65	+0.79	APO ahead
2025-12-31	88.45	83.72	+0.77	APO ahead
2025-12-30	89.24	84.48	+0.77	APO ahead
2025-12-29	89.98	84.99	+0.80	APO ahead
2025-12-26	90.74	85.64	+0.81	APO ahead
2025-12-24	90.95	85.89	+0.80	APO ahead
2025-12-23	90.65	86.03	+0.72	APO ahead
2025-12-22	90.97	86.31	+0.72	APO ahead
2025-12-19	89.41	85.78	+0.56	APO ahead
2025-12-18	89.39	86.67	+0.40	near the usual relationship
2025-12-17	89.45	86.79	+0.38	near the usual relationship
2025-12-16	89.91	87.59	+0.32	near the usual relationship
2025-12-15	89.71	88.53	+0.13	near the usual relationship
2025-12-12	90.46	89.71	+0.05	near the usual relationship
2025-12-11	91.85	93.76	-0.37	near the usual relationship
2025-12-10	91.09	92.95	-0.37	near the usual relationship
2025-12-09	87.91	89.17	-0.29	near the usual relationship
2025-12-08	83.94	85.53	-0.36	near the usual relationship
2025-12-05	84.40	84.99	-0.19	near the usual relationship
2025-12-04	83.55	84.34	-0.22	near the usual relationship
2025-12-03	82.18	83.06	-0.24	near the usual relationship
2025-12-02	80.70	80.57	-0.06	near the usual relationship
2025-12-01	80.28	80.25	-0.08	near the usual relationship
2025-11-28	80.56	80.32	-0.04	near the usual relationship
2025-11-26	79.59	79.35	-0.04	near the usual relationship
2025-11-25	79.81	79.34	+0.00	near the usual relationship
2025-11-24	79.49	77.40	+0.31	near the usual relationship
2025-11-21	79.44	77.93	+0.20	near the usual relationship
2025-11-20	77.45	75.14	+0.36	near the usual relationship
2025-11-19	77.72	77.17	+0.02	near the usual relationship
2025-11-18	75.96	74.99	+0.11	near the usual relationship
2025-11-17	75.97	74.88	+0.13	near the usual relationship
2025-11-14	79.79	78.75	+0.11	near the usual relationship
2025-11-13	78.64	79.30	-0.20	near the usual relationship
2025-11-12	81.62	80.82	+0.06	near the usual relationship
2025-11-11	81.19	79.70	+0.19	near the usual relationship
2025-11-10	79.99	78.88	+0.13	near the usual relationship
2025-11-07	80.88	79.67	+0.14	near the usual relationship
2025-11-06	78.80	78.35	+0.01	near the usual relationship
2025-11-05	81.72	78.08	+0.60	APO ahead
2025-11-04	79.74	77.68	+0.32	near the usual relationship
2025-11-03	75.73	77.25	-0.35	near the usual relationship
2025-10-31	75.95	77.71	-0.39	near the usual relationship
2025-10-30	75.43	77.57	-0.47	near the usual relationship
2025-10-29	76.30	77.86	-0.35	near the usual relationship
2025-10-28	76.05	79.21	-0.65	KKR ahead
2025-10-27	77.21	80.29	-0.63	KKR ahead
2025-10-24	76.37	79.62	-0.66	KKR ahead
2025-10-23	75.18	79.44	-0.86	KKR ahead
2025-10-22	77.31	80.97	-0.73	KKR ahead
2025-10-21	76.97	81.22	-0.84	KKR ahead
2025-10-20	76.49	78.88	-0.51	KKR ahead
2025-10-17	74.16	77.23	-0.65	KKR ahead
2025-10-16	73.83	77.18	-0.71	KKR ahead
2025-10-15	78.02	81.74	-0.74	KKR ahead
2025-10-14	77.99	82.73	-0.93	KKR ahead
2025-10-13	74.81	79.10	-0.88	KKR ahead
2025-10-10	72.23	77.38	-1.07	KKR ahead
2025-10-09	75.48	81.47	-1.19	KKR ahead
2025-10-08	76.25	81.91	-1.12	KKR ahead
2025-10-07	77.01	81.91	-0.97	KKR ahead
2025-10-06	77.41	83.32	-1.15	KKR ahead
2025-10-03	76.92	83.83	-1.34	KKR ahead
2025-10-02	77.74	81.85	-0.82	KKR ahead
2025-10-01	79.40	83.71	-0.83	KKR ahead
2025-09-30	81.43	85.34	-0.74	KKR ahead
2025-09-29	84.58	88.32	-0.67	KKR ahead
2025-09-26	84.09	88.01	-0.70	KKR ahead
2025-09-25	83.17	89.09	-1.02	KKR ahead
2025-09-24	83.80	90.59	-1.14	KKR ahead
2025-09-23	88.53	96.70	-1.28	KKR ahead
2025-09-22	87.96	96.51	-1.32	KKR ahead
2025-09-19	88.44	97.80	-1.42	KKR ahead
2025-09-18	87.67	98.08	-1.58	KKR ahead
2025-09-17	84.82	94.83	-1.56	KKR ahead
2025-09-16	85.57	94.82	-1.43	KKR ahead
2025-09-15	84.61	95.00	-1.60	KKR ahead
2025-09-12	84.33	94.14	-1.51	KKR ahead
2025-09-11	83.34	95.23	-1.82	KKR ahead
2025-09-10	81.65	91.48	-1.54	KKR ahead
2025-09-09	82.13	90.23	-1.27	KKR ahead
2025-09-08	82.14	91.08	-1.39	KKR ahead
2025-09-05	80.38	89.01	-1.36	KKR ahead
2025-09-04	82.34	90.20	-1.21	KKR ahead
2025-09-03	81.04	88.55	-1.17	KKR ahead
2025-09-02	83.00	91.11	-1.22	KKR ahead
2025-08-29	83.23	91.61	-1.25	KKR ahead
2025-08-28	83.33	92.00	-1.28	KKR ahead
2025-08-27	82.92	92.25	-1.37	KKR ahead
2025-08-26	82.12	91.99	-1.45	KKR ahead
2025-08-25	81.80	91.09	-1.37	KKR ahead
2025-08-22	81.99	93.10	-1.61	KKR ahead
2025-08-21	81.88	90.52	-1.26	KKR ahead
2025-08-20	82.69	90.69	-1.15	KKR ahead
2025-08-19	83.75	91.25	-1.06	KKR ahead
2025-08-18	85.17	92.73	-1.04	KKR ahead
2025-08-15	85.17	93.44	-1.12	KKR ahead
2025-08-14	85.95	95.92	-1.33	KKR ahead
2025-08-13	86.12	96.84	-1.41	KKR ahead
2025-08-12	88.35	96.70	-1.07	KKR ahead
2025-08-11	86.83	92.97	-0.79	KKR ahead
2025-08-08	86.74	93.70	-0.90	KKR ahead
2025-08-07	86.22	93.38	-0.92	KKR ahead
2025-08-06	89.12	94.94	-0.72	KKR ahead
2025-08-05	88.92	93.69	-0.58	KKR ahead
2025-08-04	86.77	95.31	-1.09	KKR ahead
2025-08-01	84.49	93.62	-1.20	KKR ahead
2025-07-31	88.79	96.26	-0.94	KKR ahead
2025-07-30	88.87	98.79	-1.25	KKR ahead
2025-07-29	90.32	99.17	-1.10	KKR ahead
2025-07-28	90.85	99.92	-1.13	KKR ahead
2025-07-25	92.34	99.93	-0.94	KKR ahead
2025-07-24	92.65	98.63	-0.74	KKR ahead
2025-07-23	92.78	97.37	-0.56	KKR ahead
2025-07-22	91.43	95.21	-0.47	near the usual relationship
2025-07-21	90.85	94.75	-0.49	near the usual relationship
2025-07-18	92.87	95.87	-0.36	near the usual relationship
2025-07-17	95.34	96.93	-0.17	near the usual relationship
2025-07-16	93.30	93.94	-0.06	near the usual relationship
2025-07-15	89.03	90.11	-0.12	near the usual relationship
2025-07-14	90.75	91.57	-0.09	near the usual relationship
2025-07-11	89.92	92.63	-0.34	near the usual relationship
2025-07-10	90.55	93.94	-0.43	near the usual relationship
2025-07-09	89.60	91.43	-0.23	near the usual relationship
2025-07-08	88.60	90.59	-0.26	near the usual relationship
2025-07-07	86.47	89.01	-0.35	near the usual relationship
2025-07-03	88.27	91.02	-0.37	near the usual relationship
2025-07-02	87.24	88.35	-0.15	near the usual relationship
2025-07-01	86.53	86.98	-0.06	near the usual relationship
2025-06-30	86.68	87.36	-0.10	near the usual relationship
2025-06-27	87.32	88.19	-0.13	near the usual relationship
2025-06-26	85.14	86.65	-0.22	near the usual relationship
2025-06-25	84.15	84.61	-0.07	near the usual relationship
2025-06-24	85.48	83.91	+0.22	near the usual relationship
2025-06-23	81.89	80.21	+0.25	near the usual relationship
2025-06-20	82.19	80.51	+0.25	near the usual relationship
2025-06-18	81.32	80.40	+0.14	near the usual relationship
2025-06-17	80.87	79.50	+0.21	near the usual relationship
2025-06-16	81.93	81.04	+0.14	near the usual relationship
2025-06-13	80.72	79.68	+0.16	near the usual relationship
2025-06-12	84.38	82.25	+0.32	near the usual relationship
2025-06-11	84.33	82.75	+0.23	near the usual relationship
2025-06-10	82.86	81.45	+0.21	near the usual relationship
2025-06-09	81.57	80.94	+0.09	near the usual relationship
2025-06-06	81.54	81.04	+0.07	near the usual relationship
2025-06-05	79.60	79.23	+0.05	near the usual relationship
2025-06-04	79.61	79.14	+0.06	near the usual relationship
2025-06-03	80.10	79.12	+0.14	near the usual relationship
2025-06-02	79.75	80.04	-0.06	near the usual relationship
2025-05-30	79.85	79.77	+0.00	near the usual relationship
2025-05-29	80.47	80.34	+0.01	near the usual relationship
2025-05-28	80.35	79.49	+0.12	near the usual relationship
2025-05-27	81.36	79.41	+0.28	near the usual relationship
2025-05-23	79.96	76.96	+0.46	near the usual relationship
2025-05-22	79.92	77.63	+0.35	near the usual relationship
2025-05-21	79.84	77.34	+0.38	near the usual relationship
2025-05-20	85.10	81.53	+0.52	APO ahead
2025-05-19	87.13	82.41	+0.68	APO ahead
2025-05-16	87.88	82.68	+0.75	APO ahead
2025-05-15	87.98	82.51	+0.79	APO ahead
2025-05-14	88.13	84.74	+0.48	near the usual relationship
2025-05-13	88.64	83.34	+0.76	APO ahead
2025-05-12	87.65	82.24	+0.79	APO ahead
2025-05-09	80.93	77.55	+0.53	APO ahead
2025-05-08	81.38	77.97	+0.53	APO ahead
2025-05-07	79.02	76.32	+0.43	near the usual relationship
2025-05-06	79.01	74.64	+0.70	APO ahead
2025-05-05	81.86	75.39	+1.01	APO ahead
2025-05-02	82.71	76.79	+0.91	APO ahead
2025-05-01	84.25	75.19	+1.40	APO ahead
2025-04-30	83.39	75.04	+1.30	APO ahead
2025-04-29	84.04	75.10	+1.39	APO ahead
2025-04-28	83.31	74.82	+1.33	APO ahead
2025-04-25	81.51	74.62	+1.10	APO ahead
2025-04-24	81.46	74.37	+1.13	APO ahead
2025-04-23	77.32	70.15	+1.21	APO ahead
2025-04-22	75.59	67.17	+1.48	APO ahead
2025-04-21	73.09	64.33	+1.61	APO ahead
2025-04-17	77.46	67.89	+1.67	APO ahead
2025-04-16	76.50	67.02	+1.69	APO ahead
2025-04-15	78.11	68.45	+1.70	APO ahead
2025-04-14	76.69	67.73	+1.61	APO ahead
2025-04-11	76.94	66.62	+1.87	APO ahead
2025-04-10	75.72	66.90	+1.63	APO ahead
2025-04-09	78.48	72.54	+1.05	APO ahead
2025-04-08	67.46	62.07	+1.11	APO ahead
2025-04-07	68.65	64.06	+0.94	APO ahead
2025-04-04	66.40	60.94	+1.15	APO ahead
2025-04-03	75.43	67.35	+1.51	APO ahead
2025-04-02	86.47	79.40	+1.16	APO ahead
2025-04-01	84.54	77.39	+1.20	APO ahead
2025-03-31	83.67	75.92	+1.32	APO ahead
2025-03-28	83.68	75.43	+1.42	APO ahead
2025-03-27	86.78	77.19	+1.60	APO ahead
2025-03-26	88.37	78.44	+1.64	APO ahead
2025-03-25	90.36	80.24	+1.64	APO ahead
2025-03-24	90.67	80.10	+1.72	APO ahead
2025-03-21	87.62	76.51	+1.89	APO ahead
2025-03-20	88.45	76.65	+2.01	APO ahead
2025-03-19	87.62	76.54	+1.91	APO ahead
2025-03-18	83.97	74.88	+1.65	APO ahead
2025-03-17	84.74	75.97	+1.58	APO ahead
2025-03-14	82.07	74.41	+1.44	APO ahead
2025-03-13	79.57	71.38	+1.60	APO ahead
2025-03-12	82.43	75.11	+1.39	APO ahead
2025-03-11	79.68	73.63	+1.20	APO ahead
2025-03-10	76.99	71.04	+1.22	APO ahead
2025-03-07	80.89	75.70	+1.03	APO ahead
2025-03-06	82.35	76.27	+1.18	APO ahead
2025-03-05	85.86	80.80	+0.96	APO ahead
2025-03-04	84.27	79.32	+0.95	APO ahead
2025-03-03	88.34	87.35	+0.27	near the usual relationship
2025-02-28	91.20	89.05	+0.44	near the usual relationship
2025-02-27	90.08	86.82	+0.62	APO ahead
2025-02-26	90.21	87.13	+0.58	APO ahead
2025-02-25	88.78	85.11	+0.68	APO ahead
2025-02-24	90.35	86.16	+0.75	APO ahead
2025-02-21	91.98	86.83	+0.88	APO ahead
2025-02-20	95.80	88.36	+1.20	APO ahead
2025-02-19	97.92	90.94	+1.10	APO ahead
2025-02-18	99.02	92.34	+1.05	APO ahead
2025-02-14	99.47	92.31	+1.11	APO ahead
2025-02-13	96.49	91.48	+0.82	APO ahead
2025-02-12	96.19	91.64	+0.76	APO ahead
2025-02-11	96.58	93.56	+0.53	APO ahead
2025-02-10	99.08	97.15	+0.36	near the usual relationship
2025-02-07	99.87	97.60	+0.41	near the usual relationship
2025-02-06	100.74	99.55	+0.25	near the usual relationship
2025-02-05	101.27	101.01	+0.12	near the usual relationship
2025-02-04	99.34	98.05	+0.26	near the usual relationship
2025-02-03	102.11	107.19	-0.58	KKR ahead
2025-01-31	104.47	109.72	-0.59	KKR ahead
2025-01-30	104.94	109.59	-0.52	KKR ahead
2025-01-29	104.54	109.21	-0.53	KKR ahead
2025-01-28	103.45	109.71	-0.74	KKR ahead
2025-01-27	102.19	105.86	-0.43	near the usual relationship
2025-01-24	105.13	108.71	-0.41	near the usual relationship
2025-01-23	103.71	108.58	-0.58	KKR ahead
2025-01-22	103.20	106.07	-0.34	near the usual relationship
2025-01-21	103.40	105.54	-0.25	near the usual relationship
2025-01-17	102.03	103.48	-0.17	near the usual relationship
2025-01-16	101.37	100.64	+0.11	near the usual relationship
2025-01-15	100.72	98.84	+0.25	near the usual relationship
2025-01-14	97.35	94.34	+0.42	near the usual relationship
2025-01-13	94.58	92.76	+0.25	near the usual relationship
2025-01-10	94.94	92.55	+0.33	near the usual relationship
2025-01-08	98.97	97.35	+0.21	near the usual relationship
2025-01-07	99.25	96.29	+0.38	near the usual relationship
2025-01-06	103.32	99.00	+0.54	APO ahead
2025-01-03	103.29	99.84	+0.43	near the usual relationship
2025-01-02	101.34	97.98	+0.42	near the usual relationship
2024-12-31	100.91	97.14	+0.48	near the usual relationship
2024-12-30	101.74	97.45	+0.54	APO ahead
2024-12-27	104.04	98.42	+0.70	APO ahead
2024-12-26	106.54	100.16	+0.79	APO ahead
2024-12-24	106.83	100.20	+0.82	APO ahead
2024-12-23	104.86	97.81	+0.89	APO ahead
2024-12-20	104.50	96.92	+0.97	APO ahead
2024-12-19	103.64	94.26	+1.23	APO ahead
2024-12-18	102.30	93.89	+1.12	APO ahead
2024-12-17	107.73	99.32	+1.06	APO ahead
2024-12-16	108.85	102.53	+0.78	APO ahead
2024-12-13	107.80	101.36	+0.80	APO ahead
2024-12-12	107.78	102.29	+0.68	APO ahead
2024-12-11	109.13	103.36	+0.70	APO ahead
2024-12-10	106.75	99.70	+0.88	APO ahead
2024-12-09	105.38	100.05	+0.66	APO ahead
2024-12-06	108.66	103.77	+0.58	APO ahead
2024-12-05	107.37	103.13	+0.50	APO ahead
2024-12-04	106.76	103.50	+0.37	near the usual relationship
2024-12-03	105.70	103.70	+0.21	near the usual relationship
2024-12-02	105.30	104.85	+0.02	near the usual relationship
2024-11-29	106.94	106.96	-0.04	near the usual relationship
2024-11-27	106.22	105.10	+0.08	near the usual relationship
2024-11-26	107.31	105.91	+0.10	near the usual relationship
2024-11-25	106.74	104.38	+0.20	near the usual relationship
2024-11-22	102.38	104.18	-0.29	near the usual relationship
2024-11-21	100.82	103.55	-0.40	near the usual relationship
2024-11-20	99.52	99.94	-0.14	near the usual relationship
2024-11-19	102.80	100.33	+0.18	near the usual relationship
2024-11-18	100.39	100.12	-0.08	near the usual relationship
2024-11-15	99.98	98.52	+0.05	near the usual relationship
2024-11-14	100.39	98.85	+0.05	near the usual relationship
2024-11-13	100.41	99.91	-0.08	near the usual relationship
2024-11-12	100.05	100.58	-0.20	near the usual relationship
2024-11-11	101.88	102.38	-0.20	near the usual relationship
2024-11-08	98.98	99.95	-0.26	near the usual relationship
2024-11-07	97.65	98.98	-0.31	near the usual relationship
2024-11-06	100.00	100.00	-0.18	near the usual relationship

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

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 Nov 3, 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: $67.1B
Price history: 2,534 daily closes, Oct 12, 2016 to Nov 10, 2026

KKR KKR & Co. Inc.

Listing: NYSE · SEC CIK 1404912
Industry: Investment Managers · SIC 6282 Investment Advice
Market value: $86.2B
Price history: 2,534 daily closes, Oct 12, 2016 to Nov 10, 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	KKR by 0.59 sd	Investment Managers
KKR / BAM	Watchlist	BAM by 1.47 sd	SIC 6282 Investment Advice
BX / APO	Watchlist	APO by 0.32 sd	Investment Managers

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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.