Which stocks are most correlated with ARDC?

Based on one year of daily returns, the stocks most correlated with ARES DYNAMIC CREDIT ALLOCATION FUND, INC. (ARDC) are PCEF (0.56), BGX (0.55) and FRA (0.54). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with ARDC?

Over the past year, the stocks most inversely correlated with ARES DYNAMIC CREDIT ALLOCATION FUND, INC. (ARDC) are SPXS (-0.44), SPXU (-0.44) and SDS (-0.44). A negative correlation means the two stocks have tended to move in opposite directions.

ARES DYNAMIC CREDIT ALLOCATION FUND, INC. (ARDC) — Stock Correlations & Overview

Over the past year, ARDC has moved most closely with PCEF, BGX, FRA. Explore the stocks most correlated and inversely correlated with ARDC below, along with its price, financials, and company profile.

Stocks correlated with ARDC

Correlation of daily returns. Higher positive values move with ARDC; negative values move opposite it. Informational only, not investment advice.

Most correlated with ARDC

Symbol	Company	Correlation
PCEF	Invesco CEF Income Composite ETFINVESTMENT ADVICE	0.56
BGX	Blackstone Long-Short Credit Income Fund	0.55
FRA	Blackrock Floating Rate Income Strategies Fund, Inc.	0.54
DLY	DoubleLine Yield Opportunities Fund	0.54
HYI	Western Asset High Yield Opportunity Fund Inc.	0.52

Most inversely correlated with ARDC

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.44
SPXU	ProShares UltraPro Short S&P 500	-0.44
SDS	ProShares UltraShort S&P500	-0.44
QQDN	ProShares Trust ProShares UltraShort QQQ Mega	-0.43
SH	ProShares Short S&P500	-0.43

Frequently asked questions about ARDC correlations

Which stocks are most correlated with ARDC?: Based on one year of daily returns, the stocks most correlated with ARES DYNAMIC CREDIT ALLOCATION FUND, INC. (ARDC) are PCEF (0.56), BGX (0.55) and FRA (0.54). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with ARDC?: Over the past year, the stocks most inversely correlated with ARES DYNAMIC CREDIT ALLOCATION FUND, INC. (ARDC) are SPXS (-0.44), SPXU (-0.44) and SDS (-0.44). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these ARDC correlations calculated?: We compute the correlation of daily returns between ARDC and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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