HCXY vs. ARES
HCXY (Hercules Capital, Inc.) and ARES (Ares Management Corporation) are both stocks. Over the past 5 years, HCXY returned 4.94%/yr vs 18.72%/yr for ARES. At a 0.12 correlation, their price movements are largely independent.
Performance
HCXY vs. ARES - Performance Comparison
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Returns By Period
In the year-to-date period, HCXY achieves a 1.20% return, which is significantly higher than ARES's -23.01% return.
HCXY
- 1D
- 0.48%
- 1M
- 0.20%
- YTD
- 1.20%
- 6M
- 1.62%
- 1Y
- 7.30%
- 3Y*
- 7.65%
- 5Y*
- 4.94%
- 10Y*
- —
ARES
- 1D
- -4.07%
- 1M
- -1.32%
- YTD
- -23.01%
- 6M
- -26.26%
- 1Y
- -23.41%
- 3Y*
- 13.92%
- 5Y*
- 18.72%
- 10Y*
- 29.90%
HCXY vs. ARES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HCXY Hercules Capital, Inc. | 1.20% | 7.78% | 6.10% | 9.52% | -1.82% | 5.48% | 8.24% | 20.03% | -2.68% |
ARES Ares Management Corporation | -23.01% | -5.72% | 52.68% | 79.52% | -12.75% | 77.75% | 37.37% | 110.13% | -22.05% |
Correlation
The correlation between HCXY and ARES is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.12 |
Fundamentals
HCXY:
$1.50
ARES:
$2.83
HCXY:
16.70
ARES:
42.66
HCXY:
1.19
ARES:
1.70
HCXY:
9.72
ARES:
4.21
HCXY:
$495.86M
ARES:
$6.31B
HCXY:
$531.61M
ARES:
$4.46B
HCXY:
$398.04M
ARES:
$2.42B
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Return for Risk
HCXY vs. ARES — Risk / Return Rank
HCXY
ARES
HCXY vs. ARES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hercules Capital, Inc. (HCXY) and Ares Management Corporation (ARES). 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.
| HCXY | ARES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.93 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | -0.48 | +2.77 |
| Martin ratioReturn relative to average drawdown | 5.83 | -0.92 | +6.75 |
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Drawdowns
HCXY vs. ARES - Drawdown Comparison
The maximum HCXY drawdown since its inception was -34.76%, smaller than the maximum ARES drawdown of -49.73%. Use the drawdown chart below to compare losses from any high point for HCXY and ARES.
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Drawdown Indicators
| HCXY | ARES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.76% | -49.73% | +14.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -49.05% | +45.85% |
Max Drawdown (3Y)Largest decline over 3 years | -7.43% | -49.73% | +42.30% |
Max Drawdown (5Y)Largest decline over 5 years | -15.23% | -49.73% | +34.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.73% | — |
Current DrawdownCurrent decline from peak | -0.80% | -35.17% | +34.37% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -11.36% | +8.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 25.42% | -24.17% |
Volatility
HCXY vs. ARES - Volatility Comparison
The current volatility for Hercules Capital, Inc. (HCXY) is 2.72%, while Ares Management Corporation (ARES) has a volatility of 12.55%. This indicates that HCXY experiences smaller price fluctuations and is considered to be less risky than ARES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCXY | ARES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 12.55% | -9.83% |
Volatility (6M)Calculated over the trailing 6-month period | 5.25% | 35.66% | -30.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.20% | 41.79% | -33.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.33% | 37.52% | -24.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.41% | 36.74% | -19.33% |
Dividends
HCXY vs. ARES - Dividend Comparison
HCXY's dividend yield for the trailing twelve months is around 6.25%, more than ARES's 5.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARES Ares Management Corporation | 5.49% | 3.29% | 2.10% | 2.59% | 3.57% | 2.31% | 3.40% | 3.59% | 7.50% | 5.65% | 4.32% | 6.81% |
HCXY Hercules Capital, Inc. | 6.25% | 6.13% | 6.21% | 6.19% | 6.35% | 5.86% | 5.83% | 5.93% | 0.67% | 0.00% | 0.00% | 0.00% |
Financials
HCXY vs. ARES - Financials Comparison
This section allows you to compare key financial metrics between Hercules Capital, Inc. and Ares Management 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
HCXY vs. ARES - Profitability Comparison
HCXY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported a gross profit of 106.20M and revenue of 123.49M. Therefore, the gross margin over that period was 86.0%.
ARES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ares Management Corporation reported a gross profit of 1.47B and revenue of 1.53B. Therefore, the gross margin over that period was 96.1%.
HCXY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported an operating income of 65.43M and revenue of 123.49M, resulting in an operating margin of 53.0%.
ARES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ares Management Corporation reported an operating income of 364.95M and revenue of 1.53B, resulting in an operating margin of 23.8%.
HCXY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported a net income of 0.00 and revenue of 123.49M, resulting in a net margin of 0.0%.
ARES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ares Management Corporation reported a net income of 142.59M and revenue of 1.53B, resulting in a net margin of 9.3%.
Frequently Asked Questions
HCXY and ARES have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARES has higher volatility (12.55%) compared to HCXY (2.72%). In terms of maximum drawdown, HCXY dropped -34.76% vs ARES's -49.73%.
HCXY currently has the higher Sharpe Ratio (0.89 vs -0.56), 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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