CWAN vs. ARCC
CWAN (Clearwater Analytics Holdings, Inc.) and ARCC (Ares Capital Corporation) are both stocks. CWAN operates in Software - Application (Technology), while ARCC operates in Asset Management (Financial Services). Over the past 3 years, CWAN returned 15.40%/yr vs 9.07%/yr for ARCC. At a 0.23 correlation, their price movements are largely independent.
Performance
CWAN vs. ARCC - Performance Comparison
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Returns By Period
In the year-to-date period, CWAN achieves a 1.12% return, which is significantly higher than ARCC's -5.14% return.
CWAN
- 1D
- 0.04%
- 1M
- 0.91%
- YTD
- 1.12%
- 6M
- 14.51%
- 1Y
- 6.65%
- 3Y*
- 15.40%
- 5Y*
- —
- 10Y*
- —
ARCC
- 1D
- -1.53%
- 1M
- -2.61%
- YTD
- -5.14%
- 6M
- -5.66%
- 1Y
- -6.58%
- 3Y*
- 9.07%
- 5Y*
- 8.64%
- 10Y*
- 12.56%
CWAN vs. ARCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CWAN Clearwater Analytics Holdings, Inc. | 1.12% | -12.35% | 37.39% | 6.83% | -18.41% | -9.42% |
ARCC Ares Capital Corporation | -5.14% | 1.07% | 19.78% | 20.03% | -3.84% | 7.62% |
Correlation
The correlation between CWAN 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 | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2021 | 0.23 |
Fundamentals
CWAN:
$7.19B
ARCC:
$13.41B
CWAN:
-$0.17
ARCC:
$1.63
CWAN:
8.43
ARCC:
5.01
CWAN:
3.51
ARCC:
0.95
CWAN:
$825.73M
ARCC:
$2.63B
CWAN:
$544.75M
ARCC:
$1.86B
CWAN:
$95.23M
ARCC:
$2.05B
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Return for Risk
CWAN vs. ARCC — Risk / Return Rank
CWAN
ARCC
CWAN vs. ARCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Clearwater Analytics Holdings, Inc. (CWAN) 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.
| CWAN | ARCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.95 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | -0.34 | +0.53 |
| Martin ratioReturn relative to average drawdown | 0.45 | -0.63 | +1.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CWAN | ARCC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.21 | -0.36 | +0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.43 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 0.37 | -0.40 |
Drawdowns
CWAN vs. ARCC - Drawdown Comparison
The maximum CWAN drawdown since its inception was -54.15%, smaller than the maximum ARCC drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for CWAN and ARCC.
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Drawdown Indicators
| CWAN | ARCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.15% | -79.36% | +25.21% |
Max Drawdown (1Y)Largest decline over 1 year | -35.80% | -19.35% | -16.45% |
Max Drawdown (3Y)Largest decline over 3 years | -51.54% | -19.35% | -32.19% |
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 | -25.62% | -13.66% | -11.96% |
Average DrawdownAverage peak-to-trough decline | -28.74% | -9.10% | -19.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.66% | 10.48% | +4.18% |
Volatility
CWAN vs. ARCC - Volatility Comparison
The current volatility for Clearwater Analytics Holdings, Inc. (CWAN) is 0.77%, while Ares Capital Corporation (ARCC) has a volatility of 3.94%. This indicates that CWAN experiences smaller price fluctuations and is considered to be less risky 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
| CWAN | ARCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 3.94% | -3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 14.71% | -3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.62% | 18.40% | +13.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.86% | 19.96% | +19.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.86% | 25.58% | +14.28% |
Dividends
CWAN vs. ARCC - Dividend Comparison
CWAN has not paid dividends to shareholders, while ARCC's dividend yield for the trailing twelve months is around 10.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.28% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
CWAN Clearwater Analytics Holdings, 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
CWAN vs. ARCC - Financials Comparison
This section allows you to compare key financial metrics between Clearwater Analytics Holdings, Inc. 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
CWAN vs. ARCC - Profitability Comparison
CWAN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Clearwater Analytics Holdings, Inc. reported a gross profit of 145.55M and revenue of 221.23M. Therefore, the gross margin over that period was 65.8%.
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%.
CWAN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Clearwater Analytics Holdings, Inc. reported an operating income of 8.99M and revenue of 221.23M, resulting in an operating margin of 4.1%.
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%.
CWAN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Clearwater Analytics Holdings, Inc. reported a net income of -2.78M and revenue of 221.23M, resulting in a net margin of -1.3%.
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
CWAN 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.
ARCC has higher volatility (3.94%) compared to CWAN (0.77%). In terms of maximum drawdown, CWAN dropped -54.15% vs ARCC's -79.36%.
CWAN currently has the higher Sharpe Ratio (0.21 vs -0.36), 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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