ARES vs. CG

Last updated Apr 1, 2026

Compare and contrast key facts about Ares Management Corporation (ARES) and The Carlyle Group Inc. (CG).

Performance

ARES vs. CG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ares Management Corporation (ARES) and The Carlyle Group Inc. (CG). The values are adjusted to include any dividend payments, if applicable.

ARES vs. CG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARES Ares Management Corporation	-31.58%	-5.72%	52.68%	79.52%	-12.75%	77.75%	37.37%	110.13%	-5.54%	10.72%
CG The Carlyle Group Inc.	-17.61%	20.20%	28.05%	42.55%	-43.78%	78.46%	1.62%	116.75%	-27.28%	59.83%

Fundamentals

Market Cap ARES : $24.13B CG : $18.09B
EPS ARES : $2.40 CG : $2.17
PE Ratio ARES : 45.51 CG : 22.29
PEG Ratio ARES : 1.82 CG : 0.14
PS Ratio ARES : 3.71 CG : 3.91
PB Ratio ARES : 3.36 CG : 2.56
Total Revenue (TTM) ARES : $6.47B CG : $4.61B
Gross Profit (TTM) ARES : $2.74B CG : $3.28B
EBITDA (TTM) ARES : $2.24B CG : $1.34B

Returns By Period

In the year-to-date period, ARES achieves a -31.58% return, which is significantly lower than CG's -17.61% return. Over the past 10 years, ARES has outperformed CG with an annualized return of 26.86%, while CG has yielded a comparatively lower 16.39% annualized return.

ARES

• 1D: 1.34%
• 1M: -1.27%
• YTD: -31.58%
• 6M: -30.05%
• 1Y: -22.71%
• 3Y*: 12.80%
• 5Y*: 17.27%
• 10Y*: 26.86%

CG

• 1D: 4.24%
• 1M: -6.92%
• YTD: -17.61%
• 6M: -21.80%
• 1Y: 13.94%
• 3Y*: 19.83%
• 5Y*: 8.66%
• 10Y*: 16.39%

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

Return for Risk

ARES vs. CG — Risk / Return Rank

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

ARES

ARES Risk / Return Rank: 22
ARES Sharpe Ratio Rank: 20
ARES Sortino Ratio Rank: 21
ARES Omega Ratio Rank: 21
ARES Calmar Ratio Rank: 28
ARES Martin Ratio Rank: 21

CG

CG Risk / Return Rank: 52
CG Sharpe Ratio Rank: 54
CG Sortino Ratio Rank: 48
CG Omega Ratio Rank: 50
CG Calmar Ratio Rank: 53
CG Martin Ratio Rank: 53

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.

ARES vs. CG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ares Management Corporation (ARES) and The Carlyle Group Inc. (CG). 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.

	ARES	CG	Difference
Sharpe ratio Return per unit of total volatility	-0.49	0.32	-0.81
Sortino ratio Return per unit of downside risk	-0.43	0.71	-1.13
Omega ratio Gain probability vs. loss probability	0.94	1.10	-0.16
Calmar ratio Return relative to maximum drawdown	-0.44	0.45	-0.89
Martin ratio Return relative to average drawdown	-1.13	0.97	-2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARES vs. CG - Sharpe Ratio Comparison

The current ARES Sharpe Ratio is -0.49, which is lower than the CG Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of ARES and CG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ARES	CG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.49	0.32	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.22	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.44	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.32	+0.28

Correlation

The correlation between ARES and CG is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ARES vs. CG - Dividend Comparison

ARES's dividend yield for the trailing twelve months is around 5.09%, more than CG's 2.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARES Ares Management Corporation	5.09%	3.29%	2.10%	2.59%	3.57%	2.31%	3.40%	3.59%	7.50%	5.65%	4.32%	6.81%
CG The Carlyle Group Inc.	2.89%	2.37%	2.77%	3.38%	4.11%	1.82%	3.18%	4.24%	7.87%	5.41%	11.02%	21.70%

Drawdowns

ARES vs. CG - Drawdown Comparison

The maximum ARES drawdown since its inception was -49.73%, smaller than the maximum CG drawdown of -62.69%. Use the drawdown chart below to compare losses from any high point for ARES and CG.

Drawdown Indicators

	ARES	CG	Difference
Max Drawdown Largest peak-to-trough decline	-49.73%	-62.69%	+12.96%
Max Drawdown (1Y) Largest decline over 1 year	-49.05%	-33.80%	-15.25%
Max Drawdown (5Y) Largest decline over 5 years	-49.73%	-56.75%	+7.02%
Max Drawdown (10Y) Largest decline over 10 years	-49.73%	-56.75%	+7.02%
Current Drawdown Current decline from peak	-42.39%	-29.30%	-13.09%
Average Drawdown Average peak-to-trough decline	-10.90%	-21.63%	+10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	15.53%	+3.77%

Volatility

ARES vs. CG - Volatility Comparison

Ares Management Corporation (ARES) has a higher volatility of 14.86% compared to The Carlyle Group Inc. (CG) at 10.30%. This indicates that ARES's price experiences larger fluctuations and is considered to be riskier than CG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARES	CG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.86%	10.30%	+4.56%
Volatility (6M) Calculated over the trailing 6-month period	33.31%	27.83%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	46.21%	43.60%	+2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.85%	39.39%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.36%	37.27%	-0.91%

Financials

ARES vs. CG - Profitability Comparison

The chart below illustrates the profitability comparison between Ares Management Corporation and The Carlyle Group Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ARES - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ares Management Corporation reported a gross profit of 601.15M and revenue of 2.37B. Therefore, the gross margin over that period was 25.3%.

CG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Carlyle Group Inc. reported a gross profit of 1.07B and revenue of 1.84B. Therefore, the gross margin over that period was 57.8%.

ARES - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ares Management Corporation reported an operating income of 1.12B and revenue of 2.37B, resulting in an operating margin of 47.4%.

CG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Carlyle Group Inc. reported an operating income of 500.00M and revenue of 1.84B, resulting in an operating margin of 27.1%.

ARES - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ares Management Corporation reported a net income of 54.25M and revenue of 2.37B, resulting in a net margin of 2.3%.

CG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Carlyle Group Inc. reported a net income of 358.10M and revenue of 1.84B, resulting in a net margin of 19.4%.