ARE vs. EXEL

Last updated Jun 9, 2026

ARE (Alexandria Real Estate Equities, Inc.) and EXEL (Exelixis, Inc.) are both stocks. ARE operates in REIT - Office (Real Estate), while EXEL operates in Biotechnology (Healthcare). Over the past 10 years, ARE returned -3.11%/yr vs 21.50%/yr for EXEL. At a 0.27 correlation, their price movements are largely independent.

Performance

ARE vs. EXEL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alexandria Real Estate Equities, Inc. (ARE) and Exelixis, Inc. (EXEL). 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 EXEL's 18.05% return. Over the past 10 years, ARE has underperformed EXEL with an annualized return of -3.11%, while EXEL has yielded a comparatively higher 21.50% 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%

EXEL

• 1D: -1.82%
• 1M: 7.43%
• YTD: 18.05%
• 6M: 22.69%
• 1Y: 20.24%
• 3Y*: 39.16%
• 5Y*: 17.83%
• 10Y*: 21.50%

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

ARE vs. EXEL - 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%
EXEL Exelixis, Inc.	18.05%	31.62%	38.81%	49.56%	-12.25%	-8.92%	13.90%	-10.42%	-35.30%	103.89%

Correlation

The correlation between ARE and EXEL is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Apr 18, 2000	0.27

Fundamentals

EPS ARE : -$8.32 EXEL : $3.00
PS Ratio ARE : 2.21 EXEL : 6.06
Total Revenue (TTM) ARE : $2.90B EXEL : $2.38B
Gross Profit (TTM) ARE : $1.98B EXEL : $1.70B
EBITDA (TTM) ARE : $646.49M EXEL : $991.79M

Return for Risk

ARE vs. EXEL — 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

EXEL

EXEL Risk / Return Rank: 58
EXEL Sharpe Ratio Rank: 60
EXEL Sortino Ratio Rank: 53
EXEL Omega Ratio Rank: 56
EXEL Calmar Ratio Rank: 60
EXEL Martin Ratio Rank: 61

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. EXEL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alexandria Real Estate Equities, Inc. (ARE) and Exelixis, Inc. (EXEL). 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	EXEL	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	0.50	-1.06
Sortino ratio: Return per unit of downside risk	-0.50	0.92	-1.42
Omega ratio: Gain probability vs. loss probability	0.93	1.13	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.47	0.81	-1.27
Martin ratio: Return relative to average drawdown	-0.75	1.94	-2.69
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. EXEL - Sharpe Ratio Comparison

The current ARE Sharpe Ratio is -0.55, which is lower than the EXEL Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of ARE and EXEL, 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	EXEL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	0.50	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.61	0.48	-1.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.11	0.49	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.08	+0.15

Drawdowns

ARE vs. EXEL - Drawdown Comparison

The maximum ARE drawdown since its inception was -77.92%, smaller than the maximum EXEL drawdown of -97.38%. Use the drawdown chart below to compare losses from any high point for ARE and EXEL.

Drawdown Indicators

	ARE	EXEL	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-97.38%	+19.46%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-25.16%	-26.45%
Max Drawdown (3Y) Largest decline over 3 years	-65.64%	-25.34%	-40.30%
Max Drawdown (5Y) Largest decline over 5 years	-77.92%	-36.12%	-41.80%
Max Drawdown (10Y) Largest decline over 10 years	-77.92%	-57.20%	-20.72%
Current Drawdown Current decline from peak	-72.54%	-1.82%	-70.72%
Average Drawdown Average peak-to-trough decline	-17.72%	-71.08%	+53.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.18%	10.44%	+21.74%

Volatility

ARE vs. EXEL - Volatility Comparison

Alexandria Real Estate Equities, Inc. (ARE) has a higher volatility of 13.28% compared to Exelixis, Inc. (EXEL) at 11.21%. This indicates that ARE's price experiences larger fluctuations and is considered to be riskier than EXEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARE	EXEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.28%	11.21%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	30.89%	25.96%	+4.93%
Volatility (1Y) Calculated over the trailing 1-year period	43.89%	40.34%	+3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.00%	37.17%	-4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.18%	44.47%	-15.29%

Dividends

ARE vs. EXEL - Dividend Comparison

ARE's dividend yield for the trailing twelve months is around 8.12%, while EXEL has not paid dividends to shareholders.

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%
EXEL Exelixis, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

ARE vs. EXEL - Profitability Comparison

The chart below illustrates the profitability comparison between Alexandria Real Estate Equities, Inc. and Exelixis, Inc. 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%.

EXEL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Exelixis, Inc. reported a gross profit of 0.00 and revenue of 610.81M. Therefore, the gross margin over that period was 0.0%.

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%.

EXEL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Exelixis, Inc. reported an operating income of 251.34M and revenue of 610.81M, resulting in an operating margin of 41.2%.

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%.

EXEL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Exelixis, Inc. reported a net income of 210.47M and revenue of 610.81M, resulting in a net margin of 34.5%.

Frequently Asked Questions

Can I hold both ARE and EXEL in my portfolio?

ARE and EXEL have a correlation of 0.21, 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 EXEL?

ARE has higher volatility (13.28%) compared to EXEL (11.21%). In terms of maximum drawdown, ARE dropped -77.92% vs EXEL's -97.38%.

Which has better risk-adjusted returns?

EXEL currently has the higher Sharpe Ratio (0.50 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.