Ares Management Falls 1.7% with 2.7 Billion Volume Ranking 415th in U.S. Equities

Ares Management (ARES) closed on October 9, 2025, with a 1.70% decline, marking its lowest single-day drop in recent weeks. The stock traded with a volume of $270 million, ranking 415th in total trading activity across U.S. equities. This performance followed a period of mixed investor sentiment ahead of key earnings reports and macroeconomic data releases later in the month.

Recent market activity for ARES was driven by shifting risk appetite among institutional investors. Portfolio managers began rebalancing high-yield credit exposure in response to updated Federal Reserve signals, while retail traders showed reduced short-term speculative activity. Analyst commentary highlighted the fund’s underperformance relative to its leveraged loan peers amid tighter liquidity conditions in the middle-market lending sector.

To run this back-test robustly I need to pin down a few implementation details: 1. Universe • Should I use all U.S. common stocks (e.g., primary listings on NYSE + NASDAQ + AMEX), or a different universe? 2. Signal timing • Do we open the position at the next day’s open (after yesterday’s volume ranking is known) and close it at that day’s close (1-day holding period)? • Or do you prefer some other entry/exit convention? 3. Weighting method • Equal-weight across the 500 names each day, or value-weight by market-cap / volume? 4. Slippage & trading costs • Should I include a per-trade cost assumption (e.g., 2 bp each side), or ignore costs? Once I have these details I can generate the volume screen each day, build the entry/exit signals, and feed them into the back-testing engine.