ARES vs OWL: Correlation
Ares Management (ARES) and Blue Owl Capital Inc. (OWL) show a strong relationship: their 3-year correlation of weekly returns is 0.79.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and OWL?
Over the past 3 years, ARES and OWL moved with a correlation of 0.79, which is strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 1170.4 %².
OWL is one of the assets that tracks ARES most closely: it ranks #2 out of the 32 assets we track against ARES. Over the last 12 months ARES came out ahead by 12.5 percentage points (-17.7% against -30.2%).
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 OWL: side by side
| ARES (Ares Management) | OWL (Blue Owl Capital Inc.) | |
|---|---|---|
| 1-year return | -17.7% | -30.2% |
| 5-year return | +118.7% | +8.2% |
| Volatility (ann.) | 35.5% | 41.9% |
| Beta vs S&P 500 | 1.55 | 1.77 |
| Max drawdown (3Y) | -50.0% | -67.1% |
| Market cap | $47.0B | $18.8B |
| P/E (trailing) | 65.0 | 100.2 |
| Dividend yield | 3.48% | 7.71% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ARES | OWL |
|---|---|---|
| 2022 | -12.8% | -26.3% |
| 2023 | +79.5% | +47.4% |
| 2024 | +52.7% | +61.8% |
| 2025 | -6.2% | -32.8% |
| 2026 | -9.8% | -14.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and OWL good diversifiers for each other?
Only partially. A correlation of 0.79 means ARES and OWL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ARES and OWL?
The ARES/OWL correlation stands at 0.79 on a 3-year window (1 year: 0.78, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is OWL a good diversifier for ARES?
Only partially. A correlation of 0.79 means ARES and OWL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
A reading of 0.79 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-owl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ares-vs-owl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARES correlations · OWL correlations
