1. A method for monitoring application performance in a networked device, the method comprising: collecting performance data corresponding to respective ones of a plurality of processes executing on the networked device; mapping ones of the plurality of processes into ones of a plurality of process pools; generating performance metrics for respective ones of the plurality of processes based on the collected performance data; aggregating, for respective ones of the plurality of process pools, performance metrics for the ones of the plurality of processes mapped into the respective ones of the plurality of process pools; generating, for respective ones of the plurality of process pools, an event incorporating aggregated metrics; defining a threshold number of process pools; defining a degree of similarity; and decreasing the degree of similarity responsive to a count of process pools into which at least one process is mapped reaching the threshold number of process pools; wherein mapping ones of the plurality of processes into ones of the plurality of process pools comprises mapping a first plurality of processes into a first process pool, based on the first plurality of processes having operating system container identifiers, directory paths, or command line instructions within the degree of similarity, wherein said collecting performance data, mapping the ones of the plurality of processes, generating performance metrics, aggregating performance metrics, and generating an event comprise operations performed using at least one programmed computer processor circuit.