ARES vs TPG: Correlation
Ares Management (ARES) and TPG Inc. (TPG) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARES and TPG?
On 3 years of weekly data the ARES/TPG correlation comes out at 0.73, strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.73 over 3. The 5-year figure is 0.71, and annualized covariance runs at 971.8 %².
Within ARES's tracked universe of 32 assets, TPG comes in at #4 by 3-year correlation. The trailing year gives TPG the advantage: -17.7% versus -8.1%, a 9.6-point spread.
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 TPG: side by side
| ARES (Ares Management) | TPG (TPG Inc.) | |
|---|---|---|
| 1-year return | -17.7% | -8.1% |
| 5-year return | +118.7% | +91.2% |
| Volatility (ann.) | 35.5% | 37.6% |
| Beta vs S&P 500 | 1.55 | 1.62 |
| Max drawdown (3Y) | -50.0% | -44.8% |
| Market cap | $47.0B | $21.1B |
| P/E (trailing) | 65.0 | 78.2 |
| Dividend yield | 3.48% | 4.24% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ARES | TPG |
|---|---|---|
| 2022 | -12.8% | – |
| 2023 | +79.5% | +62.4% |
| 2024 | +52.7% | +50.6% |
| 2025 | -6.2% | +5.1% |
| 2026 | -9.8% | -12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARES and TPG good diversifiers for each other?
Only partially. A correlation of 0.73 means ARES and TPG 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 TPG?
The ARES/TPG correlation stands at 0.73 on a 3-year window (1 year: 0.76, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is TPG a good diversifier for ARES?
Only partially. A correlation of 0.73 means ARES and TPG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 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-tpg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ares-vs-tpg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARES correlations · TPG correlations
