CLMT vs. BKV

Last updated Jun 4, 2026

CLMT (Calumet Specialty Products Partners, L.P.) and BKV (BKV Corp) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past year, CLMT returned 183.11% vs 19.91% for BKV. At a 0.25 correlation, their price movements are largely independent.

Performance

CLMT vs. BKV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calumet Specialty Products Partners, L.P. (CLMT) and BKV Corp (BKV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLMT achieves a 88.07% return, which is significantly higher than BKV's -0.85% return.

CLMT

• 1D: 3.49%
• 1M: 9.43%
• YTD: 88.07%
• 6M: 90.37%
• 1Y: 183.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKV

• 1D: 0.64%
• 1M: -16.14%
• YTD: -0.85%
• 6M: -3.51%
• 1Y: 19.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLMT vs. BKV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CLMT Calumet Specialty Products Partners, L.P.	88.07%	-9.76%	29.45%
BKV BKV Corp	-0.85%	14.17%	32.11%

Correlation

The correlation between CLMT and BKV is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024	0.25

Fundamentals

Market Cap CLMT : $3.25B BKV : $2.75B
EPS CLMT : -$2.17 BKV : $3.24
PS Ratio CLMT : 0.78 BKV : 2.27
Total Revenue (TTM) CLMT : $4.17B BKV : $1.08B
Gross Profit (TTM) CLMT : $239.60M BKV : $693.49M
EBITDA (TTM) CLMT : $67.00M BKV : $544.16M

Return for Risk

CLMT vs. BKV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLMT

CLMT Risk / Return Rank: 96
CLMT Sharpe Ratio Rank: 98
CLMT Sortino Ratio Rank: 96
CLMT Omega Ratio Rank: 95
CLMT Calmar Ratio Rank: 96
CLMT Martin Ratio Rank: 97

BKV

BKV Risk / Return Rank: 57
BKV Sharpe Ratio Rank: 57
BKV Sortino Ratio Rank: 53
BKV Omega Ratio Rank: 52
BKV Calmar Ratio Rank: 62
BKV Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLMT vs. BKV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calumet Specialty Products Partners, L.P. (CLMT) and BKV Corp (BKV). 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.

	CLMT	BKV	Difference
Sharpe ratio Return per unit of total volatility	4.21	0.46	+3.75
Sortino ratio Return per unit of downside risk	4.51	0.91	+3.60
Omega ratio Gain probability vs. loss probability	1.59	1.12	+0.48
Calmar ratio Return relative to maximum drawdown	8.08	1.01	+7.06
Martin ratio Return relative to average drawdown	28.26	2.11	+26.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLMT vs. BKV - Sharpe Ratio Comparison

The current CLMT Sharpe Ratio is 4.21, which is higher than the BKV Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of CLMT and BKV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLMT	BKV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.21	0.46	+3.75
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.63	+0.22

Drawdowns

CLMT vs. BKV - Drawdown Comparison

The maximum CLMT drawdown since its inception was -61.87%, which is greater than BKV's maximum drawdown of -39.98%. Use the drawdown chart below to compare losses from any high point for CLMT and BKV.

Drawdown Indicators

	CLMT	BKV	Difference
Max Drawdown Largest peak-to-trough decline	-61.87%	-39.98%	-21.89%
Max Drawdown (1Y) Largest decline over 1 year	-22.81%	-19.71%	-3.10%
Current Drawdown Current decline from peak	0.00%	-16.29%	+16.29%
Average Drawdown Average peak-to-trough decline	-20.61%	-11.33%	-9.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.51%	9.45%	-2.94%

Volatility

CLMT vs. BKV - Volatility Comparison

Calumet Specialty Products Partners, L.P. (CLMT) has a higher volatility of 13.46% compared to BKV Corp (BKV) at 11.30%. This indicates that CLMT's price experiences larger fluctuations and is considered to be riskier than BKV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLMT	BKV	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.46%	11.30%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	30.52%	27.73%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	43.77%	43.16%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.50%	43.37%	+18.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.50%	43.37%	+18.13%

Dividends

CLMT vs. BKV - Dividend Comparison

Neither CLMT nor BKV has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

CLMT vs. BKV - Profitability Comparison

The chart below illustrates the profitability comparison between Calumet Specialty Products Partners, L.P. and BKV Corp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CLMT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Calumet Specialty Products Partners, L.P. reported a gross profit of -87.50M and revenue of 1.03B. Therefore, the gross margin over that period was -8.5%.

BKV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BKV Corp reported a gross profit of 405.49M and revenue of 432.85M. Therefore, the gross margin over that period was 93.7%.

CLMT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Calumet Specialty Products Partners, L.P. reported an operating income of -165.80M and revenue of 1.03B, resulting in an operating margin of -16.1%.

BKV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BKV Corp reported an operating income of 86.03M and revenue of 432.85M, resulting in an operating margin of 19.9%.

CLMT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Calumet Specialty Products Partners, L.P. reported a net income of -317.00M and revenue of 1.03B, resulting in a net margin of -30.8%.

BKV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BKV Corp reported a net income of 44.08M and revenue of 432.85M, resulting in a net margin of 10.2%.

Frequently Asked Questions

Can I hold both CLMT and BKV in my portfolio?

CLMT and BKV 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.

Which is riskier, CLMT or BKV?

CLMT has higher volatility (13.46%) compared to BKV (11.30%). In terms of maximum drawdown, CLMT dropped -61.87% vs BKV's -39.98%.

Which has better risk-adjusted returns?

CLMT currently has the higher Sharpe Ratio (4.21 vs 0.46), 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.