CION vs. ARCC
CION (CION Investment Corporation) and ARCC (Ares Capital Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 3 years, CION returned 1.14%/yr vs 9.49%/yr for ARCC. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
CION vs. ARCC - Performance Comparison
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Returns By Period
In the year-to-date period, CION achieves a -23.99% return, which is significantly lower than ARCC's -7.09% return.
CION
- 1D
- -3.36%
- 1M
- 5.10%
- YTD
- -23.99%
- 6M
- -23.03%
- 1Y
- -14.77%
- 3Y*
- 1.14%
- 5Y*
- —
- 10Y*
- —
ARCC
- 1D
- -1.05%
- 1M
- -1.58%
- YTD
- -7.09%
- 6M
- -5.60%
- 1Y
- -8.51%
- 3Y*
- 9.49%
- 5Y*
- 8.23%
- 10Y*
- 12.43%
CION vs. ARCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CION CION Investment Corporation | -23.99% | -2.26% | 14.82% | 35.42% | -14.80% | 3.97% |
ARCC Ares Capital Corporation | -7.09% | 1.07% | 19.78% | 20.03% | -3.84% | 4.80% |
Correlation
The correlation between CION and ARCC is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021 | 0.53 |
The correlation between CION and ARCC shifts across timeframes, from 0.53 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
CION:
$321.59M
ARCC:
$12.81B
CION:
$0.67
ARCC:
$1.63
CION:
9.41
ARCC:
10.94
CION:
0.37
ARCC:
1.64
CION:
1.51
ARCC:
4.78
CION:
27.36
ARCC:
0.91
CION:
$217.31M
ARCC:
$2.63B
CION:
$189.35M
ARCC:
$1.86B
CION:
$112.53M
ARCC:
$2.05B
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Return for Risk
CION vs. ARCC — Risk / Return Rank
CION
ARCC
CION vs. ARCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CION Investment Corporation (CION) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CION | ARCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.94 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | -0.44 | 0.00 |
| Martin ratioReturn relative to average drawdown | -0.92 | -0.79 | -0.13 |
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Drawdowns
CION vs. ARCC - Drawdown Comparison
The maximum CION drawdown since its inception was -45.39%, smaller than the maximum ARCC drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for CION and ARCC.
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Drawdown Indicators
| CION | ARCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.39% | -79.36% | +33.97% |
Max Drawdown (1Y)Largest decline over 1 year | -33.39% | -19.35% | -14.04% |
Max Drawdown (3Y)Largest decline over 3 years | -37.62% | -19.35% | -18.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.77% | — |
Current DrawdownCurrent decline from peak | -32.51% | -15.44% | -17.07% |
Average DrawdownAverage peak-to-trough decline | -15.24% | -9.11% | -6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.12% | 10.85% | +5.27% |
Volatility
CION vs. ARCC - Volatility Comparison
CION Investment Corporation (CION) has a higher volatility of 12.27% compared to Ares Capital Corporation (ARCC) at 4.64%. This indicates that CION'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.
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Volatility by Period
| CION | ARCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.27% | 4.64% | +7.63% |
Volatility (6M)Calculated over the trailing 6-month period | 24.70% | 15.11% | +9.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.99% | 18.68% | +10.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.97% | 19.95% | +10.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.97% | 25.60% | +4.37% |
Dividends
CION vs. ARCC - Dividend Comparison
CION's dividend yield for the trailing twelve months is around 28.26%, more than ARCC's 10.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.76% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
CION CION Investment Corporation | 28.26% | 14.89% | 13.33% | 14.24% | 14.87% | 3.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CION vs. ARCC - Financials Comparison
This section allows you to compare key financial metrics between CION Investment Corporation and Ares Capital Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CION vs. ARCC - Profitability Comparison
CION - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CION Investment Corporation reported a gross profit of 0.00 and revenue of 49.54M. Therefore, the gross margin over that period was 0.0%.
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%.
CION - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CION Investment Corporation reported an operating income of 0.00 and revenue of 49.54M, resulting in an operating margin of 0.0%.
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%.
CION - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CION Investment Corporation reported a net income of 12.86M and revenue of 49.54M, resulting in a net margin of 26.0%.
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
CION and ARCC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CION has higher volatility (12.27%) compared to ARCC (4.64%). In terms of maximum drawdown, CION dropped -45.39% vs ARCC's -79.36%.
ARCC currently has the higher Sharpe Ratio (-0.46 vs -0.51), 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.
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