CWST vs. BTAL
CWST (Casella Waste Systems, Inc.) is a stock, while BTAL (AGF U.S. Market Neutral Anti-Beta Fund) is Equity Market Neutral fund actively managed by AGF. Over the past 10 years, CWST returned 26.34%/yr vs -4.60%/yr for BTAL. At a correlation of -0.15, they often move in opposite directions.
Performance
CWST vs. BTAL - Performance Comparison
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Returns By Period
In the year-to-date period, CWST achieves a -4.46% return, which is significantly higher than BTAL's -15.84% return. Over the past 10 years, CWST has outperformed BTAL with an annualized return of 26.34%, while BTAL has yielded a comparatively lower -4.60% annualized return.
CWST
- 1D
- -2.23%
- 1M
- 7.58%
- 6M
- -11.85%
- YTD
- -4.46%
- 1Y
- -13.31%
- 3Y*
- 2.21%
- 5Y*
- 7.32%
- 10Y*
- 26.34%
- ALL TIME*
- 5.05%
BTAL
- 1D
- 0.00%
- 1M
- 10.49%
- 6M
- -12.25%
- YTD
- -15.84%
- 1Y
- -25.57%
- 3Y*
- -9.44%
- 5Y*
- -4.30%
- 10Y*
- -4.60%
- ALL TIME*
- -3.86%
CWST vs. BTAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWST Casella Waste Systems, Inc. | -4.46% | -7.44% | 23.81% | 7.75% | -7.15% | 37.89% | 34.59% | 61.57% | 23.76% | 85.50% |
BTAL AGF U.S. Market Neutral Anti-Beta Fund | -15.84% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
Correlation
The correlation between CWST and BTAL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | -0.15 |
The correlation between CWST and BTAL shifts across timeframes, from -0.15 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CWST vs. BTAL — Risk / Return Rank
CWST
BTAL
CWST vs. BTAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Casella Waste Systems, Inc. (CWST) and AGF U.S. Market Neutral Anti-Beta Fund (BTAL). 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.
| CWST | BTAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.83 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.74 | +0.33 |
| Martin ratioReturn relative to average drawdown | -0.75 | -1.39 | +0.64 |
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Drawdowns
CWST vs. BTAL - Drawdown Comparison
The maximum CWST drawdown since its inception was -98.52%, which is greater than BTAL's maximum drawdown of -52.70%. Use the drawdown chart below to compare losses from any high point for CWST and BTAL.
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Drawdown Indicators
| CWST | BTAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -52.70% | -45.82% |
Max Drawdown (1Y)Largest decline over 1 year | -32.56% | -34.57% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -37.72% | -47.83% | +10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -37.72% | -47.83% | +10.11% |
Max Drawdown (10Y)Largest decline over 10 years | -37.72% | -52.70% | +14.98% |
Current DrawdownCurrent decline from peak | -22.26% | -47.55% | +25.29% |
Average DrawdownAverage peak-to-trough decline | -52.91% | -22.19% | -30.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.80% | 18.40% | -0.60% |
Volatility
CWST vs. BTAL - Volatility Comparison
Casella Waste Systems, Inc. (CWST) has a higher volatility of 11.67% compared to AGF U.S. Market Neutral Anti-Beta Fund (BTAL) at 7.95%. This indicates that CWST's price experiences larger fluctuations and is considered to be riskier than BTAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWST | BTAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.67% | 7.95% | +3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 28.86% | 17.50% | +11.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.12% | 23.51% | +11.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.64% | 19.27% | +8.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.00% | 17.40% | +13.60% |
Dividends
CWST vs. BTAL - Dividend Comparison
CWST has not paid dividends to shareholders, while BTAL's dividend yield for the trailing twelve months is around 2.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGF U.S. Market Neutral Anti-Beta Fund | 2.96% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
CWST Casella Waste Systems, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CWST and BTAL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CWST has higher volatility (11.67%) compared to BTAL (7.95%). In terms of maximum drawdown, CWST dropped -98.52% vs BTAL's -52.70%.
CWST currently has the higher Sharpe Ratio (-0.38 vs -1.09), 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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