ARES vs LOCL: Correlation
Ares Management (ARES) and Local Bounti Corporation (LOCL) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and LOCL?
Across a 3-year window, the weekly returns of ARES and LOCL correlate at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.01 versus -0.16 over 3 years. Stretching to 5 years gives -0.00, with an annualized covariance of -810.1 %².
Within ARES's tracked universe of 32 assets, LOCL comes in at #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ARES outperformed by 41.1 percentage points (-17.7% for ARES against -58.8% for LOCL). One caveat on sizing: LOCL is 4.0 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 LOCL: side by side
| ARES (Ares Management) | LOCL (Local Bounti Corporation) | |
|---|---|---|
| 1-year return | -17.7% | -58.8% |
| 5-year return | +118.7% | -99.2% |
| Volatility (ann.) | 35.5% | 142.7% |
| Beta vs S&P 500 | 1.55 | -0.49 |
| Max drawdown (3Y) | -50.0% | -79.4% |
| 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 | LOCL |
|---|---|---|
| 2022 | -12.8% | -78.4% |
| 2023 | +79.5% | -88.5% |
| 2024 | +52.7% | +0.0% |
| 2025 | -6.2% | +3.4% |
| 2026 | -9.8% | -53.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and LOCL good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARES and LOCL?
As of 2026-08-27, the correlation of weekly returns between ARES and LOCL is -0.16 over 3 years, -0.01 over 1 year and -0.00 over 5 years.
Is LOCL a good diversifier for ARES?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
A reading of -0.16 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-locl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ares-vs-locl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARES correlations · LOCL correlations
