AM vs. BSM
AM (Antero Midstream Corporation) and BSM (Black Stone Minerals, L.P.) are both stocks. Both are in the Energy sector — AM in Oil & Gas Midstream, BSM in Oil & Gas E&P. Over the past 10 years, AM returned 7.67%/yr vs 8.92%/yr for BSM. Their 0.40 correlation means their historical movements had little consistent relationship.
Performance
AM vs. BSM - Performance Comparison
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Returns By Period
In the year-to-date period, AM achieves a 27.62% return, which is significantly higher than BSM's 17.38% return. Over the past 10 years, AM has underperformed BSM with an annualized return of 7.67%, while BSM has yielded a comparatively higher 8.92% annualized return.
AM
- 1D
- 1.95%
- 1M
- -1.16%
- 6M
- 19.18%
- YTD
- 27.62%
- 1Y
- 24.05%
- 3Y*
- 29.97%
- 5Y*
- 26.57%
- 10Y*
- 7.67%
- ALL TIME*
- 5.23%
BSM
- 1D
- 1.01%
- 1M
- 8.41%
- 6M
- 5.62%
- YTD
- 17.38%
- 1Y
- 30.13%
- 3Y*
- 5.14%
- 5Y*
- 18.37%
- 10Y*
- 8.92%
- ALL TIME*
- 6.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $48.96M | $46.06M | $51.05M | |
| $4.76M | $4.43M | $4.97M |
AM vs. BSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 27.62% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
BSM Black Stone Minerals, L.P. | 17.38% | 0.56% | 1.47% | 5.85% | 80.82% | 67.42% | -42.97% | -9.53% | -7.04% | 2.49% |
Correlation
The correlation between AM and BSM is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 1, 2015 | 0.40 |
The correlation between AM and BSM shifts across timeframes, from 0.37 (1 year) to 0.49 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AM:
$10.43B
BSM:
$3.18B
AM:
$0.83
BSM:
$1.40
AM:
26.37
BSM:
10.66
AM:
4.55
BSM:
0.30
AM:
8.17
BSM:
6.77
AM:
5.39
BSM:
4.11
AM:
$1.29B
BSM:
$468.25M
AM:
$620.54M
BSM:
$365.30M
AM:
$884.12M
BSM:
$475.89M
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Return for Risk
AM vs. BSM — Risk / Return Rank
AM
BSM
AM vs. BSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Antero Midstream Corporation (AM) and Black Stone Minerals, L.P. (BSM). 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.
| AM | BSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.28 | -0.28 |
| Martin ratioReturn relative to average drawdown | 4.20 | 5.44 | -1.24 |
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Drawdowns
AM vs. BSM - Drawdown Comparison
The maximum AM drawdown since its inception was -93.01%, which is greater than BSM's maximum drawdown of -75.58%. Use the drawdown chart below to compare losses from any high point for AM and BSM.
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Drawdown Indicators
| AM | BSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.01% | -75.58% | -17.43% |
Max Drawdown (1Y)Largest decline over 1 year | -12.67% | -13.41% | +0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -21.48% | +7.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.91% | -25.52% | +3.61% |
Max Drawdown (10Y)Largest decline over 10 years | -93.01% | -75.58% | -17.43% |
Current DrawdownCurrent decline from peak | -4.96% | -0.95% | -4.01% |
Average DrawdownAverage peak-to-trough decline | -31.57% | -16.75% | -14.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.02% | 5.61% | +0.41% |
Volatility
AM vs. BSM - Volatility Comparison
Antero Midstream Corporation (AM) has a higher volatility of 6.77% compared to Black Stone Minerals, L.P. (BSM) at 6.42%. This indicates that AM's price experiences larger fluctuations and is considered to be riskier than BSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AM | BSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.77% | 6.42% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 15.06% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.71% | 20.87% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.15% | 26.19% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.89% | 31.41% | +10.48% |
Dividends
AM vs. BSM - Dividend Comparison
AM's dividend yield for the trailing twelve months is around 4.10%, less than BSM's 8.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.10% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
BSM Black Stone Minerals, L.P. | 8.03% | 10.16% | 10.96% | 11.90% | 9.13% | 8.23% | 10.18% | 11.64% | 8.61% | 6.69% | 5.86% | 2.94% |
Financials
AM vs. BSM - Financials Comparison
This section allows you to compare key financial metrics between Antero Midstream Corporation and Black Stone Minerals, L.P.. 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
AM vs. BSM - Profitability Comparison
AM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Antero Midstream Corporation reported a gross profit of 0.00 and revenue of 327.24M. Therefore, the gross margin over that period was 0.0%.
BSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Black Stone Minerals, L.P. reported a gross profit of 162.57M and revenue of 188.46M. Therefore, the gross margin over that period was 86.3%.
AM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Antero Midstream Corporation reported an operating income of 181.91M and revenue of 327.24M, resulting in an operating margin of 55.6%.
BSM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Black Stone Minerals, L.P. reported an operating income of 145.74M and revenue of 188.46M, resulting in an operating margin of 77.3%.
AM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Antero Midstream Corporation reported a net income of 113.52M and revenue of 327.24M, resulting in a net margin of 34.7%.
BSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Black Stone Minerals, L.P. reported a net income of 13.27M and revenue of 188.46M, resulting in a net margin of 7.0%.
Frequently Asked Questions
AM and BSM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (6.77%) compared to BSM (6.42%). In terms of maximum drawdown, AM dropped -93.01% vs BSM's -75.58%.
BSM currently has the higher Sharpe Ratio (1.47 vs 1.30), 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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