CCOI vs. ARCC

Last updated Jun 3, 2026

CCOI (Cogent Communications Holdings, Inc.) and ARCC (Ares Capital Corporation) are both stocks. CCOI operates in Telecom Services (Communication Services), while ARCC operates in Asset Management (Financial Services). Over the past 10 years, CCOI returned -3.51%/yr vs 12.73%/yr for ARCC. At a 0.30 correlation, their price movements are largely independent.

Performance

CCOI vs. ARCC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cogent Communications Holdings, Inc. (CCOI) and Ares Capital Corporation (ARCC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCOI achieves a -19.13% return, which is significantly lower than ARCC's -3.67% return. Over the past 10 years, CCOI has underperformed ARCC with an annualized return of -3.51%, while ARCC has yielded a comparatively higher 12.73% annualized return.

CCOI

• 1D: -1.64%
• 1M: -24.78%
• YTD: -19.13%
• 6M: -12.77%
• 1Y: -61.09%
• 3Y*: -31.53%
• 5Y*: -21.39%
• 10Y*: -3.51%

ARCC

• 1D: -0.52%
• 1M: -1.45%
• YTD: -3.67%
• 6M: -3.36%
• 1Y: -5.17%
• 3Y*: 9.63%
• 5Y*: 8.91%
• 10Y*: 12.73%

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

CCOI vs. ARCC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CCOI Cogent Communications Holdings, Inc.	-19.13%	-70.14%	7.19%	41.23%	-17.20%	27.78%	-5.33%	51.98%	4.25%	14.33%
ARCC Ares Capital Corporation	-3.67%	1.07%	19.78%	20.03%	-3.84%	36.14%	0.86%	31.30%	8.81%	4.50%

Correlation

The correlation between CCOI and ARCC 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	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 7, 2004	0.30

Fundamentals

Market Cap CCOI : $831.28M ARCC : $13.62B
EPS CCOI : -$3.56 ARCC : $1.63
PS Ratio CCOI : 0.87 ARCC : 5.08
Total Revenue (TTM) CCOI : $948.70M ARCC : $2.63B
Gross Profit (TTM) CCOI : $307.44M ARCC : $1.86B
EBITDA (TTM) CCOI : $187.51M ARCC : $2.05B

Return for Risk

CCOI vs. ARCC — Risk / Return Rank

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

CCOI

CCOI Risk / Return Rank: 11
CCOI Sharpe Ratio Rank: 11
CCOI Sortino Ratio Rank: 14
CCOI Omega Ratio Rank: 12
CCOI Calmar Ratio Rank: 7
CCOI Martin Ratio Rank: 10

ARCC

ARCC Risk / Return Rank: 28
ARCC Sharpe Ratio Rank: 28
ARCC Sortino Ratio Rank: 24
ARCC Omega Ratio Rank: 24
ARCC Calmar Ratio Rank: 31
ARCC Martin Ratio Rank: 31

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.

CCOI vs. ARCC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cogent Communications Holdings, Inc. (CCOI) and Ares Capital Corporation (ARCC). 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.

	CCOI	ARCC	Difference
Sharpe ratio Return per unit of total volatility	-0.72	-0.28	-0.44
Sortino ratio Return per unit of downside risk	-0.76	-0.27	-0.49
Omega ratio Gain probability vs. loss probability	0.88	0.97	-0.09
Calmar ratio Return relative to maximum drawdown	-0.88	-0.28	-0.59
Martin ratio Return relative to average drawdown	-1.31	-0.53	-0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CCOI vs. ARCC - Sharpe Ratio Comparison

The current CCOI Sharpe Ratio is -0.72, which is lower than the ARCC Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of CCOI and ARCC, 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

	CCOI	ARCC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	-0.28	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	0.45	-0.90
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	0.50	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	-0.06	0.38	-0.44

Drawdowns

CCOI vs. ARCC - Drawdown Comparison

The maximum CCOI drawdown since its inception was -96.52%, which is greater than ARCC's maximum drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for CCOI and ARCC.

Drawdown Indicators

	CCOI	ARCC	Difference
Max Drawdown Largest peak-to-trough decline	-96.52%	-79.36%	-17.16%
Max Drawdown (1Y) Largest decline over 1 year	-69.30%	-19.35%	-49.95%
Max Drawdown (3Y) Largest decline over 3 years	-80.02%	-19.35%	-60.67%
Max Drawdown (5Y) Largest decline over 5 years	-80.02%	-21.76%	-58.26%
Max Drawdown (10Y) Largest decline over 10 years	-80.02%	-56.77%	-23.25%
Current Drawdown Current decline from peak	-77.93%	-12.32%	-65.61%
Average Drawdown Average peak-to-trough decline	-59.18%	-9.10%	-50.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.38%	10.45%	+35.93%

Volatility

CCOI vs. ARCC - Volatility Comparison

Cogent Communications Holdings, Inc. (CCOI) has a higher volatility of 42.89% compared to Ares Capital Corporation (ARCC) at 3.66%. This indicates that CCOI's price experiences larger fluctuations and is considered to be riskier than ARCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCOI	ARCC	Difference
Volatility (1M) Calculated over the trailing 1-month period	42.89%	3.66%	+39.23%
Volatility (6M) Calculated over the trailing 6-month period	68.67%	14.64%	+54.03%
Volatility (1Y) Calculated over the trailing 1-year period	85.19%	18.34%	+66.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.43%	19.95%	+27.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.73%	25.58%	+15.15%

Dividends

CCOI vs. ARCC - Dividend Comparison

CCOI's dividend yield for the trailing twelve months is around 6.18%, less than ARCC's 10.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARCC Ares Capital Corporation	10.12%	9.49%	8.77%	9.59%	10.12%	7.65%	9.47%	9.01%	9.88%	9.67%	9.22%	11.02%
CCOI Cogent Communications Holdings, Inc.	6.18%	14.15%	5.09%	4.94%	6.23%	4.33%	4.64%	3.71%	4.69%	3.97%	3.65%	4.21%

Financials

CCOI vs. ARCC - Profitability Comparison

The chart below illustrates the profitability comparison between Cogent Communications Holdings, Inc. and Ares Capital Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CCOI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cogent Communications Holdings, Inc. reported a gross profit of 109.96M and revenue of 239.19M. Therefore, the gross margin over that period was 46.0%.

ARCC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ares Capital Corporation reported a gross profit of 550.00M and revenue of 763.00M. Therefore, the gross margin over that period was 72.1%.

CCOI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cogent Communications Holdings, Inc. reported an operating income of -13.51M and revenue of 239.19M, resulting in an operating margin of -5.7%.

ARCC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ares Capital Corporation reported an operating income of 404.00M and revenue of 763.00M, resulting in an operating margin of 53.0%.

CCOI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cogent Communications Holdings, Inc. reported a net income of -39.54M and revenue of 239.19M, resulting in a net margin of -16.5%.

ARCC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ares Capital Corporation reported a net income of 92.00M and revenue of 763.00M, resulting in a net margin of 12.1%.

Frequently Asked Questions

Can I hold both CCOI and ARCC in my portfolio?

CCOI and ARCC 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, CCOI or ARCC?

CCOI has higher volatility (42.89%) compared to ARCC (3.66%). In terms of maximum drawdown, CCOI dropped -96.52% vs ARCC's -79.36%.

Which has better risk-adjusted returns?

ARCC currently has the higher Sharpe Ratio (-0.28 vs -0.72), 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.