ARES vs EHGO: Correlation
Measured on weekly returns over the past three years, Ares Management (ARES) and Eshallgo Inc. - Class A (EHGO) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and EHGO?
Over the past 3 years, ARES and EHGO moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.33). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1675.1 %².
EHGO is close to the least connected end of ARES's tracked universe, ranking #29 of 32. Correlation aside, the last 12 months split them widely, with ARES ahead by 72.4 points (-17.7% versus -90.1%). Note the risk asymmetry: EHGO runs 3.6 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.
ARES vs EHGO: side by side
| ARES (Ares Management) | EHGO (Eshallgo Inc. - Class A) | |
|---|---|---|
| 1-year return | -17.7% | -90.1% |
| 5-year return | +118.7% | n/a |
| Volatility (ann.) | 35.5% | 127.9% |
| Beta vs S&P 500 | 1.55 | -1.42 |
| Max drawdown (3Y) | -50.0% | -98.5% |
| Market cap | $47.0B | – |
| P/E (trailing) | 65.0 | – |
| Dividend yield | 3.48% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ARES | EHGO |
|---|---|---|
| 2022 | -12.8% | – |
| 2023 | +79.5% | – |
| 2024 | +52.7% | – |
| 2025 | -6.2% | -94.4% |
| 2026 | -9.8% | -65.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and EHGO good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARES and EHGO?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.46 over the last year and n/a over 5 years.
Is EHGO a good diversifier for ARES?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ares-vs-ehgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ares-vs-ehgo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARES correlations · EHGO correlations
