ARES vs KKR: Correlation
Measured on weekly returns over the past three years, Ares Management (ARES) and KKR & Co. (KKR) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and KKR?
On 3 years of weekly data the ARES/KKR correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 1100.6 %².
Few assets follow ARES as closely as KKR, which ranks #1 of 32 tracked partners. Their 12-month results are close: -17.7% for ARES against -21.6% for KKR. The link looks structural: the rolling one-year correlation barely moved, holding between 0.72 and 0.89.
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 KKR: side by side
| ARES (Ares Management) | KKR (KKR & Co.) | |
|---|---|---|
| 1-year return | -17.7% | -21.6% |
| 5-year return | +118.7% | +77.3% |
| Volatility (ann.) | 35.5% | 37.8% |
| Beta vs S&P 500 | 1.55 | 1.76 |
| Max drawdown (3Y) | -50.0% | -49.4% |
| Market cap | $47.0B | $101.0B |
| P/E (trailing) | 65.0 | 34.7 |
| Dividend yield | 3.48% | 0.70% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ARES | KKR |
|---|---|---|
| 2022 | -12.8% | -37.0% |
| 2023 | +79.5% | +80.5% |
| 2024 | +52.7% | +79.6% |
| 2025 | -6.2% | -13.3% |
| 2026 | -9.8% | -13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and KKR good diversifiers for each other?
No: a correlation of 0.82 means ARES and KKR tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ARES and KKR?
As of 2026-08-27, the correlation of weekly returns between ARES and KKR is 0.82 over 3 years, 0.83 over 1 year and 0.82 over 5 years.
Is KKR a good diversifier for ARES?
No: a correlation of 0.82 means ARES and KKR tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 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: ARES correlations · KKR correlations
