CRBG vs. HESM
CRBG (Corebridge Financial Inc.) and HESM (Hess Midstream LP) are both stocks. CRBG operates in Asset Management (Financial Services), while HESM operates in Oil & Gas Midstream (Energy). Over the past 3 years, CRBG returned 24.31%/yr vs 19.89%/yr for HESM. At a 0.29 correlation, their price movements are largely independent.
Performance
CRBG vs. HESM - Performance Comparison
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Returns By Period
In the year-to-date period, CRBG achieves a -10.02% return, which is significantly lower than HESM's 17.35% return.
CRBG
- 1D
- 1.67%
- 1M
- -4.24%
- YTD
- -10.02%
- 6M
- -9.94%
- 1Y
- -15.20%
- 3Y*
- 24.31%
- 5Y*
- —
- 10Y*
- —
HESM
- 1D
- -0.38%
- 1M
- 3.68%
- YTD
- 17.35%
- 6M
- 18.31%
- 1Y
- 9.86%
- 3Y*
- 19.89%
- 5Y*
- 17.24%
- 10Y*
- —
CRBG vs. HESM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CRBG Corebridge Financial Inc. | -10.02% | 3.88% | 42.84% | 25.26% | -1.01% |
HESM Hess Midstream LP | 17.35% | 0.56% | 26.41% | 14.36% | 8.04% |
Correlation
The correlation between CRBG and HESM is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.29 |
Over the past year, the correlation between CRBG and HESM has dropped to 0.07 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.
Fundamentals
CRBG:
$12.72B
HESM:
$5.02B
CRBG:
$0.47
HESM:
$2.89
CRBG:
56.91
HESM:
13.44
CRBG:
0.21
HESM:
1.09
CRBG:
2.24
HESM:
3.04
CRBG:
1.23
HESM:
13.38
CRBG:
$6.22B
HESM:
$1.63B
CRBG:
$4.84B
HESM:
$1.13B
CRBG:
$1.41B
HESM:
$1.24B
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Return for Risk
CRBG vs. HESM — Risk / Return Rank
CRBG
HESM
CRBG vs. HESM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Corebridge Financial Inc. (CRBG) and Hess Midstream LP (HESM). 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.
| CRBG | HESM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.09 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 0.38 | -0.80 |
| Martin ratioReturn relative to average drawdown | -0.89 | 0.78 | -1.67 |
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
| CRBG | HESM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.45 | 0.41 | -0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.33 | +0.09 |
Drawdowns
CRBG vs. HESM - Drawdown Comparison
The maximum CRBG drawdown since its inception was -36.35%, smaller than the maximum HESM drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for CRBG and HESM.
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Drawdown Indicators
| CRBG | HESM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.35% | -75.16% | +38.81% |
Max Drawdown (1Y)Largest decline over 1 year | -36.35% | -25.78% | -10.57% |
Max Drawdown (3Y)Largest decline over 3 years | -36.35% | -25.78% | -10.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.72% | — |
Current DrawdownCurrent decline from peak | -23.33% | -4.69% | -18.64% |
Average DrawdownAverage peak-to-trough decline | -10.66% | -11.78% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.06% | 12.65% | +4.41% |
Volatility
CRBG vs. HESM - Volatility Comparison
Corebridge Financial Inc. (CRBG) has a higher volatility of 10.10% compared to Hess Midstream LP (HESM) at 7.87%. This indicates that CRBG's price experiences larger fluctuations and is considered to be riskier than HESM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRBG | HESM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.10% | 7.87% | +2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 27.71% | 14.73% | +12.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.65% | 24.15% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.42% | 27.35% | +7.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.42% | 38.84% | -4.42% |
Dividends
CRBG vs. HESM - Dividend Comparison
CRBG's dividend yield for the trailing twelve months is around 3.61%, less than HESM's 7.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CRBG Corebridge Financial Inc. | 3.61% | 3.18% | 3.07% | 12.47% | 2.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HESM Hess Midstream LP | 7.82% | 8.41% | 7.12% | 7.50% | 7.30% | 6.93% | 8.86% | 6.89% | 8.00% | 2.93% |
Financials
CRBG vs. HESM - Financials Comparison
This section allows you to compare key financial metrics between Corebridge Financial Inc. and Hess Midstream LP. 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
CRBG vs. HESM - Profitability Comparison
CRBG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Corebridge Financial Inc. reported a gross profit of 3.06B and revenue of 4.04B. Therefore, the gross margin over that period was 75.7%.
HESM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hess Midstream LP reported a gross profit of 246.00M and revenue of 390.10M. Therefore, the gross margin over that period was 63.1%.
CRBG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Corebridge Financial Inc. reported an operating income of 97.00M and revenue of 4.04B, resulting in an operating margin of 2.4%.
HESM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hess Midstream LP reported an operating income of 238.10M and revenue of 390.10M, resulting in an operating margin of 61.0%.
CRBG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Corebridge Financial Inc. reported a net income of -53.00M and revenue of 4.04B, resulting in a net margin of -1.3%.
HESM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hess Midstream LP reported a net income of 87.60M and revenue of 390.10M, resulting in a net margin of 22.5%.
Frequently Asked Questions
CRBG and HESM have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRBG has higher volatility (10.10%) compared to HESM (7.87%). In terms of maximum drawdown, CRBG dropped -36.35% vs HESM's -75.16%.
HESM currently has the higher Sharpe Ratio (0.41 vs -0.45), 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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