CBSH vs. NFG
CBSH (Commerce Bancshares, Inc.) and NFG (National Fuel Gas Company) are both stocks. CBSH operates in Banks - Regional (Financial Services), while NFG operates in Oil & Gas Integrated (Energy). Over the past 10 years, CBSH returned 9.61%/yr vs 7.52%/yr for NFG. Their 0.29 correlation means their historical movements had little consistent relationship.
Performance
CBSH vs. NFG - Performance Comparison
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Returns By Period
In the year-to-date period, CBSH achieves a 14.45% return, which is significantly higher than NFG's 4.13% return. Over the past 10 years, CBSH has outperformed NFG with an annualized return of 9.61%, while NFG has yielded a comparatively lower 7.52% annualized return.
CBSH
- 1D
- -0.29%
- 1M
- 0.90%
- 6M
- 13.80%
- YTD
- 14.45%
- 1Y
- 3.76%
- 3Y*
- 10.69%
- 5Y*
- 3.19%
- 10Y*
- 9.61%
- ALL TIME*
- 12.25%
NFG
- 1D
- -0.19%
- 1M
- 6.21%
- 6M
- -0.46%
- YTD
- 4.13%
- 1Y
- -2.75%
- 3Y*
- 19.99%
- 5Y*
- 13.33%
- 10Y*
- 7.52%
- ALL TIME*
- 9.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $71.89M | $72.86M | $69.63M | |
| $58.89M | $56.86M | $61.39M |
CBSH vs. NFG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBSH Commerce Bancshares, Inc. | 14.45% | -10.16% | 24.71% | -15.91% | 5.56% | 11.44% | 3.71% | 28.74% | 7.52% | 3.07% |
NFG National Fuel Gas Company | 4.13% | 35.31% | 25.38% | -17.71% | 1.87% | 60.66% | -7.58% | -5.94% | -3.74% | -0.20% |
Correlation
The correlation between CBSH and NFG is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 1987 | 0.29 |
The correlation between CBSH and NFG shifts across timeframes, from 0.21 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CBSH:
$8.64B
NFG:
$7.82B
CBSH:
$4.17
NFG:
$7.24
CBSH:
14.22
NFG:
11.38
CBSH:
5.72
NFG:
0.08
CBSH:
3.83
NFG:
3.07
CBSH:
1.96
NFG:
1.98
CBSH:
$2.17B
NFG:
$2.50B
CBSH:
$1.74B
NFG:
$1.23B
CBSH:
$831.00M
NFG:
$1.52B
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Return for Risk
CBSH vs. NFG — Risk / Return Rank
CBSH
NFG
CBSH vs. NFG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Commerce Bancshares, Inc. (CBSH) and National Fuel Gas Company (NFG). 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.
| CBSH | NFG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.99 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | -0.13 | +0.33 |
| Martin ratioReturn relative to average drawdown | 0.35 | -0.24 | +0.59 |
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Drawdowns
CBSH vs. NFG - Drawdown Comparison
The maximum CBSH drawdown since its inception was -44.70%, smaller than the maximum NFG drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for CBSH and NFG.
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Drawdown Indicators
| CBSH | NFG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.70% | -55.49% | +10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -19.51% | -20.93% | +1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -27.63% | -20.93% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -38.02% | -35.74% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -38.23% | -44.28% | +6.05% |
Current DrawdownCurrent decline from peak | -9.20% | -13.63% | +4.43% |
Average DrawdownAverage peak-to-trough decline | -9.24% | -14.35% | +5.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.77% | 11.43% | -0.66% |
Volatility
CBSH vs. NFG - Volatility Comparison
The current volatility for Commerce Bancshares, Inc. (CBSH) is 4.81%, while National Fuel Gas Company (NFG) has a volatility of 6.54%. This indicates that CBSH experiences smaller price fluctuations and is considered to be less risky than NFG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBSH | NFG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 6.54% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 13.22% | 14.53% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.66% | 19.62% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.04% | 22.24% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.39% | 24.05% | +2.34% |
Dividends
CBSH vs. NFG - Dividend Comparison
CBSH's dividend yield for the trailing twelve months is around 1.83%, less than NFG's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBSH Commerce Bancshares, Inc. | 1.83% | 2.03% | 1.67% | 1.95% | 1.50% | 1.47% | 2.00% | 1.48% | 1.61% | 1.55% | 2.93% | 2.04% |
NFG National Fuel Gas Company | 2.62% | 2.65% | 3.36% | 3.91% | 2.97% | 2.83% | 4.30% | 3.72% | 3.30% | 3.00% | 2.84% | 3.67% |
Financials
CBSH vs. NFG - Financials Comparison
This section allows you to compare key financial metrics between Commerce Bancshares, Inc. and National Fuel Gas Company. 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
CBSH vs. NFG - Profitability Comparison
CBSH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Commerce Bancshares, Inc. reported a gross profit of 398.91M and revenue of 498.91M. Therefore, the gross margin over that period was 80.0%.
NFG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, National Fuel Gas Company reported a gross profit of 231.42M and revenue of 537.50M. Therefore, the gross margin over that period was 43.1%.
CBSH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Commerce Bancshares, Inc. reported an operating income of 205.94M and revenue of 498.91M, resulting in an operating margin of 41.3%.
NFG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, National Fuel Gas Company reported an operating income of 208.94M and revenue of 537.50M, resulting in an operating margin of 38.9%.
CBSH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Commerce Bancshares, Inc. reported a net income of 159.79M and revenue of 498.91M, resulting in a net margin of 32.0%.
NFG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, National Fuel Gas Company reported a net income of 138.62M and revenue of 537.50M, resulting in a net margin of 25.8%.
Frequently Asked Questions
CBSH and NFG have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFG has higher volatility (6.54%) compared to CBSH (4.81%). In terms of maximum drawdown, CBSH dropped -44.70% vs NFG's -55.49%.
CBSH currently has the higher Sharpe Ratio (0.18 vs -0.14), 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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