ARES vs LICN: Correlation
Measured on weekly returns over the past three years, Ares Management (ARES) and Lichen International Limited - Class A (LICN) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and LICN?
Over the past 3 years, ARES and LICN moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.38) than the 3-year average (-0.15). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -46710.4 %².
By 3-year correlation, LICN places #23 of the 32 assets tracked against ARES. Their recent paths diverged sharply: over the last 12 months ARES outperformed by 57.0 percentage points (-17.7% for ARES against -74.7% for LICN). One caveat on sizing: LICN is 240.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 LICN: side by side
| ARES (Ares Management) | LICN (Lichen International Limited - Class A) | |
|---|---|---|
| 1-year return | -17.7% | -74.7% |
| 5-year return | +118.7% | n/a |
| Volatility (ann.) | 35.5% | 8528.0% |
| Beta vs S&P 500 | 1.55 | -80.22 |
| Max drawdown (3Y) | -50.0% | -98.4% |
| 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 | LICN |
|---|---|---|
| 2022 | -12.8% | – |
| 2023 | +79.5% | – |
| 2024 | +52.7% | -91.0% |
| 2025 | -6.2% | +1484.3% |
| 2026 | -9.8% | -56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and LICN good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARES and LICN?
As of 2026-08-27, the correlation of weekly returns between ARES and LICN is -0.15 over 3 years, 0.38 over 1 year and n/a over 5 years.
Is LICN a good diversifier for ARES?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 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-licn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ares-vs-licn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARES correlations · LICN correlations
