Ares Management Correlations

ARES-PB Stock

60.67 0.80 1.34%

The current 90-days correlation between Ares Management Corp and Prospect Capital is -0.01 (i.e., Good 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

Good diversification

The correlation between Ares Management Corp and DJI is -0.09 (i.e., Good 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.

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

0.66	PX	P10 Inc	Pair Corr
0.86	GCMGW	GCM Grosvenor	Pair Corr
0.84	OCCIM	OFS Credit ,	Pair Corr
0.72	OCCIN	OFS Credit	Pair Corr
0.65	OCCIO	OFS Credit	Pair Corr
0.89	FDUS	Fidus Investment Corp	Pair Corr
0.71	GECCO	Great Elm Capital	Pair Corr
0.88	FSK	FS KKR Capital	Pair Corr
0.67	OFS	OFS Capital Corp	Pair Corr
0.77	OWL	Blue Owl Capital	Pair Corr
0.67	PWM	Prestige Wealth Ordinary	Pair Corr
0.62	SAR	Saratoga Investment Corp	Pair Corr
0.68	SCM	Stellus Capital Inve	Pair Corr

Moving against Ares Stock

0.71	PSEC-PA	Prospect Capital Earnings Call This Week	Pair Corr
0.61	CNS	Cohen Steers	Pair Corr
0.55	HPH	Highest Performances Symbol Change	Pair Corr
0.46	DHIL	Diamond Hill Investment	Pair Corr
0.38	WT	WisdomTree Earnings Call Tomorrow	Pair Corr
0.38	STT-PG	State Street	Pair Corr
0.36	VRTS	Virtus Investment Earnings Call Tomorrow	Pair Corr
0.34	VINP	Vinci Partners Inves	Pair Corr
0.31	EQS	Equus Total Return	Pair Corr
0.66	NTRSO	Northern Trust	Pair Corr
0.58	HLNE	Hamilton Lane Earnings Call This Week	Pair Corr
0.48	WHF	WhiteHorse Finance	Pair Corr
0.37	PFG	Principal Financial	Pair Corr
0.31	SII	Sprott Inc	Pair Corr

Related Correlations Analysis

	PSEC-PA	AMODW	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PD	ATCO-PH	INV
PSEC-PA		-0.07	0.67	-0.65	-0.49	-0.49	-0.82	-0.44	-0.39	-0.6	PSEC-PA
AMODW	-0.07		-0.22	0.03	-0.08	-0.16	0.03	-0.35	-0.29	0.35	AMODW
STT-PG	0.67	-0.22		-0.51	-0.32	-0.02	-0.69	-0.08	0.04	-0.65	STT-PG
OCCIM	-0.65	0.03	-0.51		0.71	0.5	0.74	0.53	0.57	0.51	OCCIM
OCCIN	-0.49	-0.08	-0.32	0.71		0.45	0.52	0.45	0.48	0.28	OCCIN
OCCIO	-0.49	-0.16	-0.02	0.5	0.45		0.49	0.46	0.47	0.2	OCCIO
GECCO	-0.82	0.03	-0.69	0.74	0.52	0.49		0.48	0.36	0.68	GECCO
ATCO-PD	-0.44	-0.35	-0.08	0.53	0.45	0.46	0.48		0.73	0.17	ATCO-PD
ATCO-PH	-0.39	-0.29	0.04	0.57	0.48	0.47	0.36	0.73		0.04	ATCO-PH
INV	-0.6	0.35	-0.65	0.51	0.28	0.2	0.68	0.17	0.04		INV
	PSEC-PA	AMODW	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PD	ATCO-PH	INV

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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

GECCO	+ 0.74	OCCIM
ATCO-PH	+ 0.73	ATCO-PD
OCCIN	+ 0.71	OCCIM
INV	+ 0.68	GECCO
STT-PG	+ 0.67	PSEC-PA
ATCO-PH	+ 0.57	OCCIM

High negative correlations

GECCO	- 0.82	PSEC-PA
GECCO	- 0.69	STT-PG
INV	- 0.65	STT-PG
OCCIM	- 0.65	PSEC-PA
INV	- 0.6	PSEC-PA
OCCIM	- 0.51	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	1.29	(0.34)	0.00	(0.56)	0.00	0.00	2.98	(3.46)	8.95
AMODW	20.84	3.43	0.22	0.85	15.60	(33.91)	77.30	(28.39)	147.51
STT-PG	0.55	(0.05)	0.00	(0.24)	0.00	0.00	1.72	(1.12)	3.86
OCCIM	0.24	0.02	(0.17)	(0.88)	0.26	(0.28)	0.57	(0.40)	1.81
OCCIN	0.29	0.02	(0.14)	(1.72)	0.27	(0.42)	0.73	(0.60)	1.65
OCCIO	0.35	0.00	(0.14)	0.04	0.40	(0.45)	0.95	(0.70)	2.21
GECCO	0.23	0.04	(0.07)	(0.58)	0.21	(0.39)	0.61	(0.61)	2.67
ATCO-PD	0.39	0.01	(0.12)	0.32	0.41	(0.47)	0.86	(0.77)	2.29
ATCO-PH	0.37	0.02	(0.10)	0.61	0.42	(0.39)	0.78	(0.69)	2.33
INV	3.52	0.15	0.03	0.40	4.22	(3.83)	10.33	(7.91)	24.10

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