DGICA vs. NWE

Last updated Apr 2, 2026

Compare and contrast key facts about Donegal Group Inc. (DGICA) and NorthWestern Corporation (NWE).

Performance

DGICA vs. NWE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Donegal Group Inc. (DGICA) and NorthWestern Corporation (NWE). The values are adjusted to include any dividend payments, if applicable.

DGICA vs. NWE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGICA Donegal Group Inc.	-14.19%	34.64%	15.93%	3.15%	4.02%	6.02%	-1.12%	13.19%	-17.96%	2.46%
NWE NorthWestern Corporation	3.95%	26.40%	10.51%	-10.12%	8.49%	2.10%	-15.15%	24.50%	3.52%	8.74%

Fundamentals

Market Cap DGICA : $539.37M NWE : $4.12B
EPS DGICA : $2.40 NWE : $2.94
PE Ratio DGICA : 7.08 NWE : 22.61
PS Ratio DGICA : 0.57 NWE : 2.54
PB Ratio DGICA : 0.84 NWE : 1.43
Total Revenue (TTM) DGICA : $978.38M NWE : $1.61B
Gross Profit (TTM) DGICA : $196.62M NWE : $1.00B
EBITDA (TTM) DGICA : $80.29M NWE : $587.31M

Returns By Period

In the year-to-date period, DGICA achieves a -14.19% return, which is significantly lower than NWE's 3.95% return. Over the past 10 years, DGICA has outperformed NWE with an annualized return of 6.45%, while NWE has yielded a comparatively lower 4.92% annualized return.

DGICA

• 1D: -1.16%
• 1M: -4.01%
• YTD: -14.19%
• 6M: -10.06%
• 1Y: -10.41%
• 3Y*: 8.30%
• 5Y*: 7.23%
• 10Y*: 6.45%

NWE

• 1D: 0.73%
• 1M: -4.09%
• YTD: 3.95%
• 6M: 17.72%
• 1Y: 18.63%
• 3Y*: 9.78%
• 5Y*: 5.19%
• 10Y*: 4.92%

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

Return for Risk

DGICA vs. NWE — Risk / Return Rank

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

DGICA

DGICA Risk / Return Rank: 22
DGICA Sharpe Ratio Rank: 22
DGICA Sortino Ratio Rank: 20
DGICA Omega Ratio Rank: 21
DGICA Calmar Ratio Rank: 24
DGICA Martin Ratio Rank: 23

NWE

NWE Risk / Return Rank: 67
NWE Sharpe Ratio Rank: 72
NWE Sortino Ratio Rank: 65
NWE Omega Ratio Rank: 62
NWE Calmar Ratio Rank: 70
NWE Martin Ratio Rank: 69

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.

DGICA vs. NWE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Donegal Group Inc. (DGICA) and NorthWestern Corporation (NWE). 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.

	DGICA	NWE	Difference
Sharpe ratio Return per unit of total volatility	-0.42	0.93	-1.34
Sortino ratio Return per unit of downside risk	-0.43	1.40	-1.83
Omega ratio Gain probability vs. loss probability	0.95	1.17	-0.22
Calmar ratio Return relative to maximum drawdown	-0.51	1.47	-1.98
Martin ratio Return relative to average drawdown	-1.00	3.36	-4.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGICA vs. NWE - Sharpe Ratio Comparison

The current DGICA Sharpe Ratio is -0.42, which is lower than the NWE Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of DGICA and NWE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DGICA	NWE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	0.93	-1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.25	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.20	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.38	-0.16

Correlation

The correlation between DGICA and NWE is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DGICA vs. NWE - Dividend Comparison

DGICA's dividend yield for the trailing twelve months is around 4.30%, more than NWE's 3.99% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGICA Donegal Group Inc.	4.30%	3.60%	4.44%	4.82%	4.61%	4.41%	4.23%	3.90%	4.16%	3.22%	3.13%	3.81%
NWE NorthWestern Corporation	3.99%	4.09%	4.86%	5.03%	4.25%	4.34%	4.12%	3.21%	3.70%	3.52%	3.52%	3.54%

Drawdowns

DGICA vs. NWE - Drawdown Comparison

The maximum DGICA drawdown since its inception was -43.36%, which is greater than NWE's maximum drawdown of -39.34%. Use the drawdown chart below to compare losses from any high point for DGICA and NWE.

Drawdown Indicators

	DGICA	NWE	Difference
Max Drawdown Largest peak-to-trough decline	-43.36%	-39.34%	-4.02%
Max Drawdown (1Y) Largest decline over 1 year	-19.56%	-13.55%	-6.01%
Max Drawdown (5Y) Largest decline over 5 years	-22.31%	-26.14%	+3.83%
Max Drawdown (10Y) Largest decline over 10 years	-30.23%	-39.34%	+9.11%
Current Drawdown Current decline from peak	-18.16%	-6.39%	-11.77%
Average Drawdown Average peak-to-trough decline	-14.18%	-10.85%	-3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.00%	5.94%	+4.06%

Volatility

DGICA vs. NWE - Volatility Comparison

The current volatility for Donegal Group Inc. (DGICA) is 6.50%, while NorthWestern Corporation (NWE) has a volatility of 7.03%. This indicates that DGICA experiences smaller price fluctuations and is considered to be less risky than NWE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGICA	NWE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	7.03%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	15.59%	14.57%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	25.18%	20.19%	+4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.16%	20.72%	+2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	24.59%	+0.79%

Financials

DGICA vs. NWE - Profitability Comparison

The chart below illustrates the profitability comparison between Donegal Group Inc. and NorthWestern Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DGICA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Donegal Group Inc. reported a gross profit of 0.00 and revenue of 240.14M. Therefore, the gross margin over that period was 0.0%.

NWE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, NorthWestern Corporation reported a gross profit of 203.17M and revenue of 414.26M. Therefore, the gross margin over that period was 49.0%.

DGICA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Donegal Group Inc. reported an operating income of 0.00 and revenue of 240.14M, resulting in an operating margin of 0.0%.

NWE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, NorthWestern Corporation reported an operating income of 60.02M and revenue of 414.26M, resulting in an operating margin of 14.5%.

DGICA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Donegal Group Inc. reported a net income of 17.19M and revenue of 240.14M, resulting in a net margin of 7.2%.

NWE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, NorthWestern Corporation reported a net income of 44.69M and revenue of 414.26M, resulting in a net margin of 10.8%.