Ares Management Correlations

ARES-PB Stock

55.60 1.60 2.96%

The current 90-days correlation between Ares Management Corp and Prospect Capital is 0.05 (i.e., Significant 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

Weak diversification

The correlation between Ares Management Corp and DJI is 0.35 (i.e., Weak 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 against Ares Stock

0.44	NTRSO	Northern Trust	Pair Corr
0.42	STT-PG	State Street	Pair Corr
0.41	PFG	Principal Financial	Pair Corr
0.41	SVVC	Firsthand Technology	Pair Corr
0.34	CNVT	CVF Technologies	Pair Corr
0.52	KB	KB Financial Group	Pair Corr
0.31	AB	AllianceBernstein Normal Trading	Pair Corr

Related Correlations Analysis

	PSEC-PA	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PD	ATCO-PH	INV	PFG
PSEC-PA		0.66	-0.24	-0.26	-0.3	-0.31	-0.22	-0.3	0.05	0.61	PSEC-PA
STT-PG	0.66		-0.53	-0.43	-0.31	-0.61	-0.32	-0.32	-0.32	0.76	STT-PG
OCCIM	-0.24	-0.53		0.36	0.13	0.22	0.38	0.4	-0.06	-0.42	OCCIM
OCCIN	-0.26	-0.43	0.36		0.74	0.48	0.68	0.75	0.08	-0.38	OCCIN
OCCIO	-0.3	-0.31	0.13	0.74		0.56	0.57	0.63	0.08	-0.29	OCCIO
GECCO	-0.31	-0.61	0.22	0.48	0.56		0.58	0.41	0.55	-0.58	GECCO
ATCO-PD	-0.22	-0.32	0.38	0.68	0.57	0.58		0.77	0.22	-0.33	ATCO-PD
ATCO-PH	-0.3	-0.32	0.4	0.75	0.63	0.41	0.77		-0.05	-0.36	ATCO-PH
INV	0.05	-0.32	-0.06	0.08	0.08	0.55	0.22	-0.05		-0.34	INV
PFG	0.61	0.76	-0.42	-0.38	-0.29	-0.58	-0.33	-0.36	-0.34		PFG
	PSEC-PA	STT-PG	OCCIM	OCCIN	OCCIO	GECCO	ATCO-PD	ATCO-PH	INV	PFG

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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

ATCO-PH	+ 0.77	ATCO-PD
PFG	+ 0.76	STT-PG
ATCO-PH	+ 0.75	OCCIN
OCCIO	+ 0.74	OCCIN
ATCO-PD	+ 0.68	OCCIN
STT-PG	+ 0.66	PSEC-PA

High negative correlations

GECCO	- 0.61	STT-PG
PFG	- 0.58	GECCO
OCCIM	- 0.53	STT-PG
OCCIN	- 0.43	STT-PG
PFG	- 0.42	OCCIM
PFG	- 0.38	OCCIN

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	1.39	(0.17)	0.00	(0.51)	0.00	0.00	3.17	(3.44)	10.33
STT-PG	0.37	(0.07)	0.00	(0.79)	0.00	0.00	0.66	(0.69)	2.92
OCCIM	0.21	0.03	0.06	0.54	0.00	(0.27)	0.52	(0.32)	1.09
OCCIN	0.24	0.02	(0.01)	(0.49)	0.25	(0.31)	0.60	(0.63)	1.64
OCCIO	0.39	0.04	0.03	0.47	0.35	(0.45)	0.99	(0.69)	2.53
GECCO	0.28	0.04	0.04	(0.97)	0.21	(0.49)	1.28	(0.65)	2.51
ATCO-PD	0.36	0.00	(0.04)	(0.11)	0.44	(0.39)	0.85	(0.75)	2.04
ATCO-PH	0.33	0.00	(0.04)	(0.01)	0.45	(0.33)	0.72	(0.83)	2.27
INV	4.75	0.52	0.09	1.49	5.00	(5.26)	12.77	(9.17)	34.95
PFG	0.99	(0.17)	0.00	(0.10)	0.00	0.00	2.07	(2.22)	9.84

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