ARES vs STEP: Correlation
Measured on weekly returns over the past three years, Ares Management (ARES) and StepStone Group Inc. (STEP) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and STEP?
Over the past 3 years, ARES and STEP moved with a correlation of 0.63, which is strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 842.9 %².
Within ARES's tracked universe of 32 assets, STEP comes in at #13 by 3-year correlation. Twelve-month performance is nearly a tie, at -17.7% for ARES and -17.1% for STEP.
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 STEP: side by side
| ARES (Ares Management) | STEP (StepStone Group Inc.) | |
|---|---|---|
| 1-year return | -17.7% | -17.1% |
| 5-year return | +118.7% | +20.7% |
| Volatility (ann.) | 35.5% | 37.9% |
| Beta vs S&P 500 | 1.55 | 1.43 |
| Max drawdown (3Y) | -50.0% | -46.9% |
| Market cap | $47.0B | $6.5B |
| P/E (trailing) | 65.0 | – |
| Dividend yield | 3.48% | 2.25% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ARES | STEP |
|---|---|---|
| 2022 | -12.8% | -37.8% |
| 2023 | +79.5% | +31.7% |
| 2024 | +52.7% | +85.9% |
| 2025 | -6.2% | +13.6% |
| 2026 | -9.8% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and STEP good diversifiers for each other?
To a limited degree. At 0.63 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 STEP?
The ARES/STEP correlation stands at 0.63 on a 3-year window (1 year: 0.66, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is STEP a good diversifier for ARES?
To a limited degree. At 0.63 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 0.63 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-step.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ares-vs-step/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARES correlations · STEP correlations
