ARE vs. CRS

Last updated Jun 9, 2026

ARE (Alexandria Real Estate Equities, Inc.) and CRS (Carpenter Technology Corporation) are both stocks. ARE operates in REIT - Office (Real Estate), while CRS operates in Metal Fabrication (Industrials). Over the past 10 years, ARE returned -3.11%/yr vs 33.20%/yr for CRS. At a 0.30 correlation, their price movements are largely independent.

Performance

ARE vs. CRS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alexandria Real Estate Equities, Inc. (ARE) and Carpenter Technology Corporation (CRS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARE achieves a 4.32% return, which is significantly lower than CRS's 58.69% return. Over the past 10 years, ARE has underperformed CRS with an annualized return of -3.11%, while CRS has yielded a comparatively higher 33.20% annualized return.

ARE

• 1D: -1.99%
• 1M: 8.65%
• YTD: 4.32%
• 6M: 15.21%
• 1Y: -24.01%
• 3Y*: -21.27%
• 5Y*: -20.01%
• 10Y*: -3.11%

CRS

• 1D: 3.20%
• 1M: 16.65%
• YTD: 58.69%
• 6M: 62.07%
• 1Y: 101.19%
• 3Y*: 115.41%
• 5Y*: 63.76%
• 10Y*: 33.20%

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

ARE vs. CRS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARE Alexandria Real Estate Equities, Inc.	4.32%	-46.60%	-19.44%	-9.11%	-32.62%	28.09%	13.27%	44.04%	-8.97%	20.95%
CRS Carpenter Technology Corporation	58.69%	86.23%	141.72%	94.48%	29.50%	2.66%	-39.44%	42.12%	-29.16%	43.40%

Correlation

The correlation between ARE and CRS is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 29, 1997	0.30

The correlation between ARE and CRS shifts across timeframes, from 0.12 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS ARE : -$8.32 CRS : $9.51
PS Ratio ARE : 2.21 CRS : 8.30
Total Revenue (TTM) ARE : $2.90B CRS : $3.03B
Gross Profit (TTM) ARE : $1.98B CRS : $900.50M
EBITDA (TTM) ARE : $646.49M CRS : $745.50M

Return for Risk

ARE vs. CRS — Risk / Return Rank

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

ARE

ARE Risk / Return Rank: 22
ARE Sharpe Ratio Rank: 18
ARE Sortino Ratio Rank: 21
ARE Omega Ratio Rank: 19
ARE Calmar Ratio Rank: 26
ARE Martin Ratio Rank: 28

CRS

CRS Risk / Return Rank: 90
CRS Sharpe Ratio Rank: 90
CRS Sortino Ratio Rank: 88
CRS Omega Ratio Rank: 87
CRS Calmar Ratio Rank: 93
CRS Martin Ratio Rank: 91

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.

ARE vs. CRS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alexandria Real Estate Equities, Inc. (ARE) and Carpenter Technology Corporation (CRS). 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.

	ARE	CRS	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	2.14	-2.69
Sortino ratio: Return per unit of downside risk	-0.50	2.93	-3.42
Omega ratio: Gain probability vs. loss probability	0.93	1.37	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.47	5.33	-5.80
Martin ratio: Return relative to average drawdown	-0.75	12.55	-13.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARE vs. CRS - Sharpe Ratio Comparison

The current ARE Sharpe Ratio is -0.55, which is lower than the CRS Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ARE and CRS, 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

	ARE	CRS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	2.14	-2.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.61	1.38	-1.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.11	0.68	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.35	-0.11

Drawdowns

ARE vs. CRS - Drawdown Comparison

The maximum ARE drawdown since its inception was -77.92%, smaller than the maximum CRS drawdown of -84.68%. Use the drawdown chart below to compare losses from any high point for ARE and CRS.

Drawdown Indicators

	ARE	CRS	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-84.68%	+6.76%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-19.08%	-32.53%
Max Drawdown (3Y) Largest decline over 3 years	-65.64%	-28.74%	-36.90%
Max Drawdown (5Y) Largest decline over 5 years	-77.92%	-41.86%	-36.06%
Max Drawdown (10Y) Largest decline over 10 years	-77.92%	-74.70%	-3.22%
Current Drawdown Current decline from peak	-72.54%	0.00%	-72.54%
Average Drawdown Average peak-to-trough decline	-17.72%	-27.25%	+9.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.18%	8.09%	+24.09%

Volatility

ARE vs. CRS - Volatility Comparison

Alexandria Real Estate Equities, Inc. (ARE) has a higher volatility of 13.28% compared to Carpenter Technology Corporation (CRS) at 11.63%. This indicates that ARE's price experiences larger fluctuations and is considered to be riskier than CRS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARE	CRS	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.28%	11.63%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	30.89%	33.18%	-2.29%
Volatility (1Y) Calculated over the trailing 1-year period	43.89%	47.75%	-3.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.00%	46.58%	-13.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.18%	48.83%	-19.65%

Dividends

ARE vs. CRS - Dividend Comparison

ARE's dividend yield for the trailing twelve months is around 8.12%, more than CRS's 0.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARE Alexandria Real Estate Equities, Inc.	8.12%	9.56%	5.32%	3.91%	3.24%	2.01%	2.38%	2.48%	3.24%	2.64%	2.91%	3.38%
CRS Carpenter Technology Corporation	0.16%	0.25%	0.47%	1.13%	2.17%	2.74%	2.75%	1.61%	2.13%	1.41%	1.99%	2.38%

Financials

ARE vs. CRS - Profitability Comparison

The chart below illustrates the profitability comparison between Alexandria Real Estate Equities, Inc. and Carpenter Technology Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ARE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported a gross profit of 446.88M and revenue of 671.02M. Therefore, the gross margin over that period was 66.6%.

CRS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Carpenter Technology Corporation reported a gross profit of 251.80M and revenue of 811.50M. Therefore, the gross margin over that period was 31.0%.

ARE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported an operating income of 412.20M and revenue of 671.02M, resulting in an operating margin of 61.4%.

CRS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Carpenter Technology Corporation reported an operating income of 186.50M and revenue of 811.50M, resulting in an operating margin of 23.0%.

ARE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported a net income of 358.87M and revenue of 671.02M, resulting in a net margin of 53.5%.

CRS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Carpenter Technology Corporation reported a net income of 139.60M and revenue of 811.50M, resulting in a net margin of 17.2%.

Frequently Asked Questions

Can I hold both ARE and CRS in my portfolio?

ARE and CRS have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARE or CRS?

ARE has higher volatility (13.28%) compared to CRS (11.63%). In terms of maximum drawdown, ARE dropped -77.92% vs CRS's -84.68%.

Which has better risk-adjusted returns?

CRS currently has the higher Sharpe Ratio (2.14 vs -0.55), 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.