AR vs. ^GSPC

Last updated Jun 4, 2026

AR (Antero Resources Corporation) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, AR returned 2.38%/yr vs 13.66%/yr for ^GSPC. At a 0.29 correlation, their price movements are largely independent.

Performance

AR vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Antero Resources Corporation (AR) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AR achieves a 6.01% return, which is significantly lower than ^GSPC's 10.35% return. Over the past 10 years, AR has underperformed ^GSPC with an annualized return of 2.38%, while ^GSPC has yielded a comparatively higher 13.66% annualized return.

AR

• 1D: 0.74%
• 1M: -7.59%
• YTD: 6.01%
• 6M: 0.36%
• 1Y: -4.77%
• 3Y*: 19.66%
• 5Y*: 22.88%
• 10Y*: 2.38%

^GSPC

• 1D: -0.74%
• 1M: 4.90%
• YTD: 10.35%
• 6M: 10.28%
• 1Y: 26.52%
• 3Y*: 20.83%
• 5Y*: 12.30%
• 10Y*: 13.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AR vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AR Antero Resources Corporation	6.01%	-1.68%	54.54%	-26.82%	77.09%	221.10%	91.23%	-69.65%	-50.58%	-19.66%
^GSPC S&P 500 Index	10.35%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Correlation

The correlation between AR and ^GSPC is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 11, 2013	0.29

The correlation between AR and ^GSPC shifts across timeframes, from -0.04 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AR vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AR

AR Risk / Return Rank: 34
AR Sharpe Ratio Rank: 35
AR Sortino Ratio Rank: 32
AR Omega Ratio Rank: 32
AR Calmar Ratio Rank: 35
AR Martin Ratio Rank: 36

^GSPC

^GSPC Risk / Return Rank: 73
^GSPC Sharpe Ratio Rank: 71
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 72
^GSPC Calmar Ratio Rank: 67
^GSPC Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AR vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Antero Resources Corporation (AR) and S&P 500 Index (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AR	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	-0.12	2.24	-2.37
Sortino ratio Return per unit of downside risk	0.09	3.07	-2.98
Omega ratio Gain probability vs. loss probability	1.01	1.41	-0.39
Calmar ratio Return relative to maximum drawdown	-0.15	2.93	-3.08
Martin ratio Return relative to average drawdown	-0.23	13.52	-13.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AR vs. ^GSPC - Sharpe Ratio Comparison

The current AR Sharpe Ratio is -0.12, which is lower than the ^GSPC Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of AR and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AR	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	2.24	-2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.73	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.04	0.76	-0.72
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.47	-0.52

Drawdowns

AR vs. ^GSPC - Drawdown Comparison

The maximum AR drawdown since its inception was -99.01%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for AR and ^GSPC.

Drawdown Indicators

	AR	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-99.01%	-56.78%	-42.23%
Max Drawdown (1Y) Largest decline over 1 year	-31.77%	-9.10%	-22.67%
Max Drawdown (3Y) Largest decline over 3 years	-33.19%	-18.90%	-14.29%
Max Drawdown (5Y) Largest decline over 5 years	-58.39%	-25.43%	-32.96%
Max Drawdown (10Y) Largest decline over 10 years	-97.78%	-33.92%	-63.86%
Current Drawdown Current decline from peak	-45.81%	-0.74%	-45.07%
Average Drawdown Average peak-to-trough decline	-61.37%	-10.72%	-50.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.50%	1.97%	+18.53%

Volatility

AR vs. ^GSPC - Volatility Comparison

Antero Resources Corporation (AR) has a higher volatility of 9.93% compared to S&P 500 Index (^GSPC) at 2.93%. This indicates that AR's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AR	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	2.93%	+7.00%
Volatility (6M) Calculated over the trailing 6-month period	27.11%	8.99%	+18.12%
Volatility (1Y) Calculated over the trailing 1-year period	38.68%	11.89%	+26.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.25%	16.90%	+31.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.72%	18.06%	+42.66%

Frequently Asked Questions

Can I hold both AR and ^GSPC in my portfolio?

AR and ^GSPC have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AR or ^GSPC?

AR has higher volatility (9.93%) compared to ^GSPC (2.93%). In terms of maximum drawdown, AR dropped -99.01% vs ^GSPC's -56.78%.

Which has better risk-adjusted returns?

^GSPC currently has the higher Sharpe Ratio (2.24 vs -0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.