AWR vs. BKH
AWR (American States Water Company) and BKH (Black Hills Corporation) are both stocks. Both are in the Utilities sector — AWR in Utilities - Regulated Water, BKH in Utilities - Diversified. Over the past 10 years, AWR returned 8.51%/yr vs 5.15%/yr for BKH. At a 0.37 correlation, their price movements are largely independent.
Performance
AWR vs. BKH - Performance Comparison
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Returns By Period
In the year-to-date period, AWR achieves a 7.54% return, which is significantly higher than BKH's 5.99% return. Over the past 10 years, AWR has outperformed BKH with an annualized return of 8.51%, while BKH has yielded a comparatively lower 5.15% annualized return.
AWR
- 1D
- -1.89%
- 1M
- 0.27%
- YTD
- 7.54%
- 6M
- 8.56%
- 1Y
- 3.04%
- 3Y*
- -3.03%
- 5Y*
- 1.21%
- 10Y*
- 8.51%
BKH
- 1D
- -0.81%
- 1M
- -3.13%
- YTD
- 5.99%
- 6M
- 4.93%
- 1Y
- 31.40%
- 3Y*
- 9.12%
- 5Y*
- 5.05%
- 10Y*
- 5.15%
AWR vs. BKH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AWR American States Water Company | 7.54% | -4.32% | -1.18% | -11.43% | -8.92% | 32.25% | -6.75% | 31.19% | 17.91% | 29.76% |
BKH Black Hills Corporation | 5.99% | 23.93% | 13.57% | -19.95% | 3.08% | 18.86% | -19.05% | 28.60% | 7.98% | 0.81% |
Correlation
The correlation between AWR and BKH is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990 | 0.37 |
The correlation between AWR and BKH shifts across timeframes, from 0.37 (all time) to 0.59 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AWR:
$3.01B
BKH:
$5.46B
AWR:
$3.44
BKH:
$2.10
AWR:
22.34
BKH:
34.46
AWR:
2.10
BKH:
20.56
AWR:
4.39
BKH:
2.34
AWR:
$679.25M
BKH:
$2.29B
AWR:
$303.17M
BKH:
$596.90M
AWR:
$233.31M
BKH:
$554.70M
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Return for Risk
AWR vs. BKH — Risk / Return Rank
AWR
BKH
AWR vs. BKH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American States Water Company (AWR) and Black Hills Corporation (BKH). 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.
| AWR | BKH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.28 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 3.02 | -2.75 |
| Martin ratioReturn relative to average drawdown | 0.47 | 9.08 | -8.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AWR | BKH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.15 | 1.56 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.23 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.20 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.44 | -0.04 |
Drawdowns
AWR vs. BKH - Drawdown Comparison
The maximum AWR drawdown since its inception was -37.39%, smaller than the maximum BKH drawdown of -65.72%. Use the drawdown chart below to compare losses from any high point for AWR and BKH.
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Drawdown Indicators
| AWR | BKH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -65.72% | +28.33% |
Max Drawdown (1Y)Largest decline over 1 year | -11.55% | -10.45% | -1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -25.36% | -23.55% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -32.85% | -36.98% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | -32.85% | -40.45% | +7.60% |
Current DrawdownCurrent decline from peak | -17.98% | -5.14% | -12.84% |
Average DrawdownAverage peak-to-trough decline | -10.81% | -16.20% | +5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.41% | 3.47% | +2.94% |
Volatility
AWR vs. BKH - Volatility Comparison
The current volatility for American States Water Company (AWR) is 4.82%, while Black Hills Corporation (BKH) has a volatility of 6.20%. This indicates that AWR experiences smaller price fluctuations and is considered to be less risky than BKH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AWR | BKH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 6.20% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 15.05% | 15.66% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.12% | 20.27% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.65% | 22.11% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.16% | 25.39% | +0.77% |
Dividends
AWR vs. BKH - Dividend Comparison
AWR's dividend yield for the trailing twelve months is around 2.62%, less than BKH's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AWR American States Water Company | 2.62% | 2.68% | 2.30% | 2.06% | 1.65% | 1.35% | 1.61% | 1.34% | 1.58% | 1.72% | 2.01% | 2.08% |
BKH Black Hills Corporation | 3.82% | 3.90% | 4.44% | 4.63% | 3.43% | 3.25% | 3.53% | 2.61% | 3.07% | 3.01% | 2.74% | 3.49% |
Financials
AWR vs. BKH - Financials Comparison
This section allows you to compare key financial metrics between American States Water Company and Black Hills 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
AWR vs. BKH - Profitability Comparison
AWR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American States Water Company reported a gross profit of 0.00 and revenue of 169.19M. Therefore, the gross margin over that period was 0.0%.
BKH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Black Hills Corporation reported a gross profit of 0.00 and revenue of 780.70M. Therefore, the gross margin over that period was 0.0%.
AWR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American States Water Company reported an operating income of 51.37M and revenue of 169.19M, resulting in an operating margin of 30.4%.
BKH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Black Hills Corporation reported an operating income of 201.90M and revenue of 780.70M, resulting in an operating margin of 25.9%.
AWR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American States Water Company reported a net income of 29.95M and revenue of 169.19M, resulting in a net margin of 17.7%.
BKH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Black Hills Corporation reported a net income of -2.10M and revenue of 780.70M, resulting in a net margin of -0.3%.
Frequently Asked Questions
AWR and BKH have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKH has higher volatility (6.20%) compared to AWR (4.82%). In terms of maximum drawdown, AWR dropped -37.39% vs BKH's -65.72%.
BKH currently has the higher Sharpe Ratio (1.56 vs 0.15), 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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