ARCC vs FOXA: Correlation
Ares Capital Corporation - Closed End Fund (ARCC) and Fox Corporation (Class A) (FOXA) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARCC and FOXA?
Across a 3-year window, the weekly returns of ARCC and FOXA correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 220.0 %².
Among the 31 assets we track against ARCC, FOXA ranks #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FOXA outperformed by 15.8 percentage points (-1.8% for ARCC against +14.0% for FOXA). Note the risk asymmetry: FOXA runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ARCC vs FOXA: side by side
| ARCC (Ares Capital Corporation - Closed End Fund) | FOXA (Fox Corporation (Class A)) | |
|---|---|---|
| 1-year return | -1.8% | +14.0% |
| 5-year return | +59.8% | +93.4% |
| Volatility (ann.) | 15.8% | 29.3% |
| Beta vs S&P 500 | 0.62 | 0.56 |
| Max drawdown (3Y) | -19.3% | -35.6% |
| Market cap | $14.3B | $28.3B |
| P/E (trailing) | 14.8 | 18.1 |
| Dividend yield | 9.65% | 0.80% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | ARCC | FOXA |
|---|---|---|
| 2022 | -3.8% | -16.6% |
| 2023 | +20.0% | -0.8% |
| 2024 | +19.8% | +66.3% |
| 2025 | +1.1% | +51.8% |
| 2026 | +3.5% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCC and FOXA good diversifiers for each other?
Reasonably. At 0.47, ARCC and FOXA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARCC and FOXA?
As of 2026-08-27, the correlation of weekly returns between ARCC and FOXA is 0.47 over 3 years, 0.46 over 1 year and 0.46 over 5 years.
Is FOXA a good diversifier for ARCC?
Reasonably. At 0.47, ARCC and FOXA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ARCC correlations · FOXA correlations
