ARES vs MS: Correlation
Measured on weekly returns over the past three years, Ares Management (ARES) and Morgan Stanley (MS) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and MS?
On 3 years of weekly data the ARES/MS correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.51 over 1 year against 0.60 over 3. The 5-year figure is 0.62, and annualized covariance runs at 606.6 %².
Within ARES's tracked universe of 32 assets, MS comes in at #17 by 3-year correlation. The last year tells two different stories: MS led by 64.8 percentage points, -17.7% for ARES against +47.1% for MS. Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.81.
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 MS: side by side
| ARES (Ares Management) | MS (Morgan Stanley) | |
|---|---|---|
| 1-year return | -17.7% | +47.1% |
| 5-year return | +118.7% | +142.0% |
| Volatility (ann.) | 35.5% | 28.3% |
| Beta vs S&P 500 | 1.55 | 1.43 |
| Max drawdown (3Y) | -50.0% | -29.2% |
| Market cap | $47.0B | $337.5B |
| P/E (trailing) | 65.0 | 17.4 |
| Dividend yield | 3.48% | 1.94% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ARES | MS |
|---|---|---|
| 2022 | -12.8% | -10.3% |
| 2023 | +79.5% | +13.9% |
| 2024 | +52.7% | +39.7% |
| 2025 | -6.2% | +45.2% |
| 2026 | -9.8% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and MS good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ARES and MS?
The ARES/MS correlation stands at 0.60 on a 3-year window (1 year: 0.51, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is MS a good diversifier for ARES?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ares-vs-ms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ares-vs-ms/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARES correlations · MS correlations
