Specific forms of ruminative cognitive styles and self-appraisals have been implicated in the development of bipolar symptomatology. This study investigated the associations between measures of positive and negative forms of appraisals and rumination with vulnerability to hypomania, and also investigated the conceptual overlap between these measures in terms of the responses to emotional experiences captured. Hypomania vulnerability was predicted by measures of positive cognitive styles, whilst current depressive symptoms were explained by scores on measures of negative cognitive styles in an analogue sample of 353 participants. A principal components analysis conducted upon the rumination and appraisal measures yielded three components representing positive and negative cognitive styles, and a normalizing of symptoms component. The implications of these results are discussed.