ARCC vs MAIN: Correlation
Measured on weekly returns over the past three years, Ares Capital Corporation - Closed End Fund (ARCC) and Main Street Capital Corporation (MAIN) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARCC and MAIN?
Across a 3-year window, the weekly returns of ARCC and MAIN correlate at 0.77, strong. Recent behaviour matches the longer record: 0.77 over 1 year against 0.77 over 3. Stretching to 5 years gives 0.74, with an annualized covariance of 238.1 %².
Within ARCC's tracked universe of 31 assets, MAIN comes in at #5 by 3-year correlation. Neither side won the trailing year by much: -1.8% against -2.5%.
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 MAIN: side by side
| ARCC (Ares Capital Corporation - Closed End Fund) | MAIN (Main Street Capital Corporation) | |
|---|---|---|
| 1-year return | -1.8% | -2.5% |
| 5-year return | +59.8% | +106.5% |
| Volatility (ann.) | 15.8% | 19.6% |
| Beta vs S&P 500 | 0.62 | 0.69 |
| Max drawdown (3Y) | -19.3% | -22.4% |
| Market cap | $14.3B | $5.5B |
| P/E (trailing) | 14.8 | 11.7 |
| Dividend yield | 9.65% | 5.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARCC | MAIN |
|---|---|---|
| 2022 | -3.8% | -11.4% |
| 2023 | +20.0% | +28.2% |
| 2024 | +19.8% | +47.3% |
| 2025 | +1.1% | +10.7% |
| 2026 | +3.5% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCC and MAIN good diversifiers for each other?
Only partially. A correlation of 0.77 means ARCC and MAIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ARCC and MAIN?
As of 2026-08-27, the correlation of weekly returns between ARCC and MAIN is 0.77 over 3 years, 0.77 over 1 year and 0.74 over 5 years.
Is MAIN a good diversifier for ARCC?
Only partially. A correlation of 0.77 means ARCC and MAIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: ARCC correlations · MAIN correlations
