CWT vs. MSEX
CWT (California Water Service Group) and MSEX (Middlesex Water Company) are both stocks. Both operate in the Utilities - Regulated Water industry within the Utilities sector. Over the past 10 years, CWT returned 5.60%/yr vs 4.97%/yr for MSEX. At a 0.38 correlation, their price movements are largely independent.
Performance
CWT vs. MSEX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with CWT having a 5.76% return and MSEX slightly higher at 5.78%. Over the past 10 years, CWT has outperformed MSEX with an annualized return of 5.60%, while MSEX has yielded a comparatively lower 4.97% annualized return.
CWT
- 1D
- -1.51%
- 1M
- 4.63%
- YTD
- 5.76%
- 6M
- 5.10%
- 1Y
- 1.75%
- 3Y*
- -4.79%
- 5Y*
- -2.52%
- 10Y*
- 5.60%
MSEX
- 1D
- -1.41%
- 1M
- 2.77%
- YTD
- 5.78%
- 6M
- 4.49%
- 1Y
- -3.59%
- 3Y*
- -12.32%
- 5Y*
- -7.76%
- 10Y*
- 4.97%
CWT vs. MSEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWT California Water Service Group | 5.76% | -1.81% | -10.64% | -12.83% | -14.13% | 35.05% | 6.68% | 9.85% | 7.06% | 36.39% |
MSEX Middlesex Water Company | 5.78% | -1.65% | -18.00% | -15.19% | -33.75% | 68.50% | 15.78% | 21.12% | 36.54% | -4.92% |
Correlation
The correlation between CWT and MSEX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990 | 0.38 |
Over the past year, CWT and MSEX have become more correlated (0.83) than their long-term average of 0.38, meaning their price movements have been converging.
Fundamentals
CWT:
$1.99
MSEX:
$3.22
CWT:
22.65
MSEX:
16.34
CWT:
0.55
MSEX:
2.68
CWT:
2.66
MSEX:
3.61
CWT:
$1.01B
MSEX:
$199.11M
CWT:
$366.63M
MSEX:
$66.33M
CWT:
$329.51M
MSEX:
$86.27M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CWT vs. MSEX — Risk / Return Rank
CWT
MSEX
CWT vs. MSEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for California Water Service Group (CWT) and Middlesex Water Company (MSEX). 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.
| CWT | MSEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.01 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | -0.17 | +0.29 |
| Martin ratioReturn relative to average drawdown | 0.23 | -0.30 | +0.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CWT | MSEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | -0.12 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | -0.25 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | 0.15 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.32 | -0.01 |
Drawdowns
CWT vs. MSEX - Drawdown Comparison
The maximum CWT drawdown since its inception was -38.21%, smaller than the maximum MSEX drawdown of -60.51%. Use the drawdown chart below to compare losses from any high point for CWT and MSEX.
Loading charts...
Drawdown Indicators
| CWT | MSEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.21% | -60.51% | +22.30% |
Max Drawdown (1Y)Largest decline over 1 year | -14.59% | -21.04% | +6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -24.13% | -44.52% | +20.39% |
Max Drawdown (5Y)Largest decline over 5 years | -38.21% | -60.51% | +22.30% |
Max Drawdown (10Y)Largest decline over 10 years | -38.21% | -60.51% | +22.30% |
Current DrawdownCurrent decline from peak | -30.55% | -52.07% | +21.52% |
Average DrawdownAverage peak-to-trough decline | -11.70% | -12.86% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.70% | 12.07% | -4.37% |
Volatility
CWT vs. MSEX - Volatility Comparison
California Water Service Group (CWT) has a higher volatility of 7.12% compared to Middlesex Water Company (MSEX) at 5.32%. This indicates that CWT's price experiences larger fluctuations and is considered to be riskier than MSEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CWT | MSEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.12% | 5.32% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 19.03% | 18.12% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.16% | 30.28% | -6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.29% | 31.16% | -6.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.73% | 32.34% | -4.61% |
Dividends
CWT vs. MSEX - Dividend Comparison
CWT's dividend yield for the trailing twelve months is around 2.81%, more than MSEX's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWT California Water Service Group | 2.81% | 2.86% | 2.47% | 2.01% | 1.65% | 1.28% | 1.57% | 1.53% | 1.57% | 1.59% | 2.04% | 2.88% |
MSEX Middlesex Water Company | 2.70% | 2.74% | 2.50% | 1.92% | 1.50% | 1.16% | 1.44% | 1.54% | 1.71% | 2.15% | 1.88% | 2.92% |
Financials
CWT vs. MSEX - Financials Comparison
This section allows you to compare key financial metrics between California Water Service Group and Middlesex Water 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
CWT vs. MSEX - Profitability Comparison
CWT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, California Water Service Group reported a gross profit of 0.00 and revenue of 214.57M. Therefore, the gross margin over that period was 0.0%.
MSEX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Middlesex Water Company reported a gross profit of 0.00 and revenue of 48.71M. Therefore, the gross margin over that period was 0.0%.
CWT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, California Water Service Group reported an operating income of 18.16M and revenue of 214.57M, resulting in an operating margin of 8.5%.
MSEX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Middlesex Water Company reported an operating income of 13.10M and revenue of 48.71M, resulting in an operating margin of 26.9%.
CWT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, California Water Service Group reported a net income of 4.04M and revenue of 214.57M, resulting in a net margin of 1.9%.
MSEX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Middlesex Water Company reported a net income of 10.61M and revenue of 48.71M, resulting in a net margin of 21.8%.
Frequently Asked Questions
CWT and MSEX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CWT has higher volatility (7.12%) compared to MSEX (5.32%). In terms of maximum drawdown, CWT dropped -38.21% vs MSEX's -60.51%.
CWT currently has the higher Sharpe Ratio (0.07 vs -0.12), 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.
Find the right allocation for CWT and MSEX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer