Ares Management Correlations

ARES-PB Stock

55.95 0.52 0.92%

The current 90-days correlation between Ares Management Corp and Prospect Capital is 0.17 (i.e., Average diversification). The correlation of Ares Management is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Ares Management Correlation With Market

Poor diversification

The correlation between Ares Management Corp and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ares Management Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ares Management Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Ares Stock

0.89	DHIL	Diamond Hill Investment	Pair Corr
0.88	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.82	AC	Associated Capital	Pair Corr
0.94	BK	Bank of New York	Pair Corr
0.97	BN	Brookfield Corp	Pair Corr
0.87	BX	Blackstone Group Normal Trading	Pair Corr
0.91	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.84	WT	WisdomTree	Pair Corr
0.94	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.64	AMODW	Alpha Modus Holdings, Symbol Change	Pair Corr
0.71	STT-PG	State Street	Pair Corr
0.91	VRTS	Virtus Investment Earnings Call This Week	Pair Corr
0.84	OCCIM	OFS Credit ,	Pair Corr
0.83	OCCIN	OFS Credit	Pair Corr
0.74	OCCIO	OFS Credit	Pair Corr
0.9	FDUS	Fidus Investment Corp	Pair Corr
0.93	AMG	Affiliated Managers Earnings Call This Week	Pair Corr
0.92	AMP	Ameriprise Financial Earnings Call This Week	Pair Corr
0.81	APO	Apollo Global Management	Pair Corr
0.87	BAM	Brookfield Asset Man Normal Trading	Pair Corr
0.93	BEN	Franklin Resources	Pair Corr
0.9	BLK	BlackRock	Pair Corr
0.95	FHI	Federated Investors Earnings Call This Week	Pair Corr
0.89	FSK	FS KKR Capital	Pair Corr
0.88	IVZ	Invesco Plc Earnings Call Today	Pair Corr
0.96	JHG	Janus Henderson Group	Pair Corr
0.95	KKR	KKR Co LP Normal Trading	Pair Corr

Moving against Ares Stock

0.47	GCMGW	GCM Grosvenor	Pair Corr
0.47	BCG	Binah Capital Group,	Pair Corr
0.76	CWD	CaliberCos Class A	Pair Corr
0.6	PFX	Phenixfin	Pair Corr
0.48	WHF	WhiteHorse Finance	Pair Corr
0.4	GCMG	GCM Grosvenor	Pair Corr

Related Correlations Analysis

	PSEC-PA	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PH	PFG	TGE	NTRSO
PSEC-PA		0.55	0.36	0.56	0.38	-0.1	0.53	0.62	-0.36	0.63	PSEC-PA
STT-PG	0.55		0.57	0.54	0.48	0.05	0.47	0.71	-0.03	0.82	STT-PG
OCCIM	0.36	0.57		0.86	0.84	0.28	0.51	0.7	0.4	0.4	OCCIM
OCCIN	0.56	0.54	0.86		0.82	0.25	0.51	0.76	0.18	0.53	OCCIN
OCCIO	0.38	0.48	0.84	0.82		0.31	0.55	0.6	0.28	0.5	OCCIO
GECCO	-0.1	0.05	0.28	0.25	0.31		0.08	0.04	0.54	-0.07	GECCO
ATCO-PH	0.53	0.47	0.51	0.51	0.55	0.08		0.4	-0.06	0.55	ATCO-PH
PFG	0.62	0.71	0.7	0.76	0.6	0.04	0.4		0.02	0.6	PFG
TGE	-0.36	-0.03	0.4	0.18	0.28	0.54	-0.06	0.02		-0.28	TGE
NTRSO	0.63	0.82	0.4	0.53	0.5	-0.07	0.55	0.6	-0.28		NTRSO
	PSEC-PA	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PH	PFG	TGE	NTRSO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

OCCIN	+ 0.86	OCCIM
OCCIO	+ 0.84	OCCIM
NTRSO	+ 0.82	STT-PG
OCCIO	+ 0.82	OCCIN
PFG	+ 0.76	OCCIN
PFG	+ 0.71	STT-PG

High negative correlations

TGE	- 0.36	PSEC-PA
NTRSO	- 0.28	TGE
GECCO	- 0.1	PSEC-PA
NTRSO	- 0.07	GECCO
TGE	- 0.06	ATCO-PH
TGE	- 0.03	STT-PG

Risk-Adjusted Indicators

There is a big difference between Ares Stock performing well and Ares Management Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ares Management's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PSEC-PA	1.28	0.20	0.05	0.79	1.62	(1.40)	2.88	(2.09)	9.68
STT-PG	0.47	0.02	(0.13)	0.24	0.46	(0.54)	0.97	(0.86)	2.52
OCCIM	0.39	0.06	(0.08)	0.94	0.36	(0.54)	1.06	(0.93)	2.87
OCCIN	0.29	0.03	(0.16)	0.59	0.32	(0.36)	0.71	(0.54)	2.65
OCCIO	0.30	0.04	(0.19)	1.05	0.28	(0.41)	0.68	(0.65)	2.63
GECCO	0.54	0.03	(0.05)	(0.84)	1.06	(1.03)	1.58	(1.77)	13.10
ATCO-PH	1.63	0.48	0.06	(0.50)	2.45	(1.70)	1.01	(2.43)	61.34
PFG	1.06	0.00	0.03	0.13	1.15	(1.20)	2.44	(1.99)	7.65
TGE	6.68	(1.03)	0.00	30.25	0.00	0.00	19.52	(19.29)	57.32
NTRSO	0.56	0.04	(0.07)	0.29	0.56	(0.59)	1.24	(0.98)	2.90

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