BMI vs. HRTG
BMI (Badger Meter, Inc.) and HRTG (Heritage Insurance Holdings, Inc.) are both stocks. BMI operates in Electrical Equipment & Parts (Industrials), while HRTG operates in Insurance - Property & Casualty (Financial Services). Over the past 10 years, BMI returned 14.99%/yr vs 7.50%/yr for HRTG. At a 0.25 correlation, their price movements are largely independent.
Performance
BMI vs. HRTG - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BMI having a -24.02% return and HRTG slightly higher at -23.27%. Over the past 10 years, BMI has outperformed HRTG with an annualized return of 14.99%, while HRTG has yielded a comparatively lower 7.50% annualized return.
BMI
- 1D
- 0.93%
- 1M
- 13.87%
- YTD
- -24.02%
- 6M
- -28.30%
- 1Y
- -45.59%
- 3Y*
- -3.92%
- 5Y*
- 7.71%
- 10Y*
- 14.99%
HRTG
- 1D
- 0.58%
- 1M
- 1.95%
- YTD
- -23.27%
- 6M
- -22.80%
- 1Y
- -5.99%
- 3Y*
- 71.00%
- 5Y*
- 22.01%
- 10Y*
- 7.50%
BMI vs. HRTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BMI Badger Meter, Inc. | -24.02% | -17.15% | 38.28% | 42.58% | 3.23% | 14.11% | 46.37% | 33.46% | 4.09% | 30.91% |
HRTG Heritage Insurance Holdings, Inc. | -23.27% | 141.82% | 85.58% | 262.22% | -68.58% | -40.09% | -21.80% | -8.50% | -17.06% | 16.94% |
Correlation
The correlation between BMI and HRTG is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 23, 2014 | 0.25 |
Fundamentals
BMI:
$3.87B
HRTG:
$690.12M
BMI:
$4.42
HRTG:
$6.53
BMI:
29.78
HRTG:
3.44
BMI:
1.25
HRTG:
0.02
BMI:
4.34
HRTG:
0.82
BMI:
3.98
HRTG:
1.33
BMI:
$896.73M
HRTG:
$848.47M
BMI:
$370.96M
HRTG:
$333.64M
BMI:
$199.34M
HRTG:
$285.21M
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Return for Risk
BMI vs. HRTG — Risk / Return Rank
BMI
HRTG
BMI vs. HRTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Badger Meter, Inc. (BMI) and Heritage Insurance Holdings, Inc. (HRTG). 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.
| BMI | HRTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.03 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.18 | -0.67 |
| Martin ratioReturn relative to average drawdown | -1.38 | -0.40 | -0.98 |
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Drawdowns
BMI vs. HRTG - Drawdown Comparison
The maximum BMI drawdown since its inception was -68.22%, smaller than the maximum HRTG drawdown of -94.36%. Use the drawdown chart below to compare losses from any high point for BMI and HRTG.
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Drawdown Indicators
| BMI | HRTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.22% | -94.36% | +26.14% |
Max Drawdown (1Y)Largest decline over 1 year | -53.79% | -32.95% | -20.84% |
Max Drawdown (3Y)Largest decline over 3 years | -55.06% | -43.90% | -11.16% |
Max Drawdown (5Y)Largest decline over 5 years | -55.06% | -84.89% | +29.83% |
Max Drawdown (10Y)Largest decline over 10 years | -55.06% | -92.21% | +37.15% |
Current DrawdownCurrent decline from peak | -47.63% | -27.91% | -19.72% |
Average DrawdownAverage peak-to-trough decline | -19.02% | -46.51% | +27.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.04% | 14.92% | +18.12% |
Volatility
BMI vs. HRTG - Volatility Comparison
The current volatility for Badger Meter, Inc. (BMI) is 9.52%, while Heritage Insurance Holdings, Inc. (HRTG) has a volatility of 10.07%. This indicates that BMI experiences smaller price fluctuations and is considered to be less risky than HRTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMI | HRTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.52% | 10.07% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 38.68% | 37.66% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.17% | 57.07% | -12.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.88% | 71.35% | -37.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.67% | 57.93% | -24.26% |
Dividends
BMI vs. HRTG - Dividend Comparison
BMI's dividend yield for the trailing twelve months is around 1.21%, while HRTG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMI Badger Meter, Inc. | 1.21% | 0.85% | 0.58% | 0.64% | 0.78% | 0.71% | 0.74% | 0.99% | 1.14% | 1.03% | 1.16% | 1.33% |
HRTG Heritage Insurance Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 6.67% | 4.08% | 2.37% | 1.81% | 1.63% | 1.33% | 1.47% | 0.23% |
Financials
BMI vs. HRTG - Financials Comparison
This section allows you to compare key financial metrics between Badger Meter, Inc. and Heritage Insurance Holdings, Inc.. 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
BMI vs. HRTG - Profitability Comparison
BMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported a gross profit of 84.33M and revenue of 202.28M. Therefore, the gross margin over that period was 41.7%.
HRTG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported a gross profit of 0.00 and revenue of 212.66M. Therefore, the gross margin over that period was 0.0%.
BMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported an operating income of 35.17M and revenue of 202.28M, resulting in an operating margin of 17.4%.
HRTG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported an operating income of 50.82M and revenue of 212.66M, resulting in an operating margin of 23.9%.
BMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported a net income of 27.34M and revenue of 202.28M, resulting in a net margin of 13.5%.
HRTG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Heritage Insurance Holdings, Inc. reported a net income of 36.48M and revenue of 212.66M, resulting in a net margin of 17.2%.
Frequently Asked Questions
BMI and HRTG have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HRTG has higher volatility (10.07%) compared to BMI (9.52%). In terms of maximum drawdown, BMI dropped -68.22% vs HRTG's -94.36%.
HRTG currently has the higher Sharpe Ratio (-0.11 vs -1.03), 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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