ARES vs CG: Correlation
How closely do Ares Management (ARES) and The Carlyle Group Inc. (CG) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and CG?
Across a 3-year window, the weekly returns of ARES and CG correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 886.0 %².
Among the 32 assets we track against ARES, CG ranks #7 by 3-year correlation. Their 12-month results are close: -17.7% for ARES against -21.8% for CG.
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.
ARES vs CG: side by side
| ARES (Ares Management) | CG (The Carlyle Group Inc.) | |
|---|---|---|
| 1-year return | -17.7% | -21.8% |
| 5-year return | +118.7% | +18.0% |
| Volatility (ann.) | 35.5% | 36.8% |
| Beta vs S&P 500 | 1.55 | 1.68 |
| Max drawdown (3Y) | -50.0% | -40.4% |
| Market cap | $47.0B | $17.5B |
| P/E (trailing) | 65.0 | 50.8 |
| Dividend yield | 3.48% | 2.86% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ARES | CG |
|---|---|---|
| 2022 | -12.8% | -43.8% |
| 2023 | +79.5% | +42.6% |
| 2024 | +52.7% | +28.1% |
| 2025 | -6.2% | +20.2% |
| 2026 | -9.8% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and CG good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARES and CG?
The ARES/CG correlation stands at 0.68 on a 3-year window (1 year: 0.69, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is CG a good diversifier for ARES?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ares-vs-cg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ares-vs-cg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARES correlations · CG correlations
