Ares Management Correlations

ARES Stock

USD 186.22 3.88 2.13%

The current 90-days correlation between Ares Management LP and Apollo Global Management is 0.69 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ares Management Correlation With Market

Poor diversification

The correlation between Ares Management LP and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ares Management LP 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 LP. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Ares Stock

0.92	VRTS	Virtus Investment	Pair Corr
0.89	FDUS	Fidus Investment Corp	Pair Corr
0.92	AXP	American Express	Pair Corr
0.82	BLX	Foreign Trade Bank	Pair Corr
0.9	PNNT	PennantPark Investment	Pair Corr
0.92	SEIC	SEI Investments	Pair Corr
0.77	SLRC	SLR Investment Corp	Pair Corr
0.85	SOFI	SoFi Technologies Earnings Call This Week	Pair Corr
0.85	CNNE	Cannae Holdings	Pair Corr
0.92	C	Citigroup Aggressive Push	Pair Corr
0.89	L	Loews Corp Earnings Call This Week	Pair Corr
0.91	DHIL	Diamond Hill Investment	Pair Corr
0.83	AB	AllianceBernstein Normal Trading	Pair Corr
0.65	AC	Associated Capital	Pair Corr
0.92	AX	Axos Financial Earnings Call This Week	Pair Corr
0.92	BK	Bank of New York	Pair Corr
0.95	BN	Brookfield Corp	Pair Corr
0.89	BX	Blackstone Group Sell-off Trend	Pair Corr
0.75	BY	Byline Bancorp	Pair Corr
0.93	CG	Carlyle Group Normal Trading	Pair Corr
0.9	CM	Canadian Imperial Bank	Pair Corr
0.89	DB	Deutsche Bank AG Normal Trading	Pair Corr
0.9	GS	Goldman Sachs Group	Pair Corr
0.72	HG	Hamilton Insurance Group,	Pair Corr
0.84	IX	Orix Corp Ads	Pair Corr
0.85	KB	KB Financial Group	Pair Corr
0.81	LC	LendingClub Corp Earnings Call This Week	Pair Corr
0.91	MC	Moelis	Pair Corr
0.94	MS	Morgan Stanley	Pair Corr

Moving against Ares Stock

0.58	AIHS	Senmiao Technology	Pair Corr
0.64	FG	FG Annuities Life	Pair Corr
0.63	EG	Everest Group Earnings Call This Week	Pair Corr
0.44	CB	Chubb	Pair Corr
0.47	LX	Lexinfintech Holdings Normal Trading	Pair Corr

Related Correlations Analysis

	APO	OWL	KKR	AMG	ARCC	CG	APAM	JHG	HLI
APO		0.86	0.91	0.85	0.79	0.86	0.82	0.86	0.86	APO
OWL	0.86		0.88	0.82	0.84	0.83	0.81	0.85	0.87	OWL
KKR	0.91	0.88		0.98	0.94	0.98	0.93	0.97	0.97	KKR
AMG	0.85	0.82	0.98		0.93	0.98	0.96	0.96	0.96	AMG
ARCC	0.79	0.84	0.94	0.93		0.97	0.9	0.92	0.94	ARCC
CG	0.86	0.83	0.98	0.98	0.97		0.94	0.96	0.97	CG
APAM	0.82	0.81	0.93	0.96	0.9	0.94		0.96	0.94	APAM
JHG	0.86	0.85	0.97	0.96	0.92	0.96	0.96		0.98	JHG
HLI	0.86	0.87	0.97	0.96	0.94	0.97	0.94	0.98		HLI
	APO	OWL	KKR	AMG	ARCC	CG	APAM	JHG	HLI

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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
APO	1.53	(0.09)	0.06	0.16	1.63	(1.64)	4.39	(2.60)	14.48
OWL	1.51	(0.08)	0.04	0.16	1.67	(1.62)	4.17	(3.30)	11.12
KKR	1.57	0.24	0.24	0.32	1.13	(1.77)	4.43	(2.21)	11.35
AMG	1.09	0.22	0.23	0.38	0.69	(1.36)	2.87	(1.57)	7.38
ARCC	0.65	0.09	0.02	0.33	0.71	(0.71)	1.72	(1.53)	4.57
CG	1.56	0.46	0.36	0.41	1.12	(1.94)	4.09	(2.26)	14.63
APAM	1.30	0.16	0.17	0.32	1.07	(1.51)	3.08	(2.35)	7.64
JHG	1.21	0.18	0.25	0.30	0.75	(1.48)	2.92	(1.92)	10.56
HLI	0.98	0.14	0.15	0.33	0.74	(1.18)	2.46	(1.43)	9.17

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