Investment innovation at the intersection of technology, data and behavioral finance.
It's in our DNA.

Explore Our Firm

Investment innovation at the intersection of technology, data and behavioral finance.
It's in our DNA.

Explore Our Firm
Perspective

Uncorrelated Assets: An Important Dimension of an Optimal Portfolio

Recently, Dimensional Fund Advisors wrote critically on “liquid alts.” They make some good points, but they also draw some odd conclusions that if applied more generally would not be to their or our liking. Besides discussing their piece, below I also review the general rationale behind holding uncorrelated assets – in particular, equity “factors” held in a long-short manner.

Read more
Alternative Thinking
White Paper

Value: Why Now? Capturing the Comeback in Its Early Innings

Value has delivered attractive long-term returns but has also weathered difficult short-term periods. While these times are painful for investors, the subsequent recoveries are lucrative for those that stick with the factor. We summarize the evidence for why we believe long/short value continues to be an exceptional go-forward opportunity and how investors can adapt their portfolios accordingly.

Read more

Our Approach

How we invest

Fundamental Investing

We rely on sound economic theory and analysis to help us deliver long-term, repeatable results.

Systematically Applied

A disciplined methodology underlies everything we do. Our models, built over 20 years, are based on a continuous process of design, refine, test, repeat.

Thoughtfully Designed

In portfolio construction, risk management and trading, we seek additional value for our clients. Using both qualitative and quantitative tools, we’re meticulous in every detail of the investment process.

Cliff's Perspectives

“Let's all be nicer to financial theory. If we stick with it long enough, it will probably be nice to us.”

Cliff Asness, Managing and Founding Principal

Volatility Laundering

While not alone, I have become one of the chief gadflies of the private equity industry. But I’m a selective gadfly. The illiquidity and non-marking that comes with private investments used to be acknowledged as a bug. These days, however, this same bug is sold as a feature – and sometimes, as in a recent Institutional Investor op-ed, brazenly so. My response in II covers what I think are the increasingly harmful ramifications of taking as reality the unrealistically smoothed returns that private strategies are all-too-happy to report.

Read more
More Cliff's Perspectives

Our History

AQR’s evolution over two decades

${cards[currentCard].year}
${year}
${tooltip.year} - ${tooltip.text}

${milestones[0].typeDisplayText}

${innovations[0].typeDisplayText}

${awards[0].typeDisplayText}

Strategies

We offer a broad range of diversified strategies based on a unified set of underlying principles.

AQR is at the nexus of economics, behavioral finance, data, and technology. Our evolution has been a continuous exploration of what drives markets and how it can be applied to client portfolios.

Investors should conduct their own analysis and consult with professional advisors prior to making any investment decisions. Diversification does not eliminate the risk of experiencing investment loss. Past performance is not a guarantee of future results. Investment process is subject to change.