FR vs. NRG

Last updated Jun 3, 2026

FR (First Industrial Realty Trust, Inc.) and NRG (NRG Energy, Inc.) are both stocks. FR operates in REIT - Industrial (Real Estate), while NRG operates in Utilities - Independent Power Producers (Utilities). Over the past 10 years, FR returned 12.16%/yr vs 25.16%/yr for NRG. At a 0.32 correlation, their price movements are largely independent.

Performance

FR vs. NRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Industrial Realty Trust, Inc. (FR) and NRG Energy, Inc. (NRG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FR achieves a 5.78% return, which is significantly higher than NRG's -15.64% return. Over the past 10 years, FR has underperformed NRG with an annualized return of 12.16%, while NRG has yielded a comparatively higher 25.16% annualized return.

FR

• 1D: 0.60%
• 1M: -3.36%
• YTD: 5.78%
• 6M: 8.22%
• 1Y: 25.57%
• 3Y*: 7.13%
• 5Y*: 5.69%
• 10Y*: 12.16%

NRG

• 1D: 3.12%
• 1M: -12.95%
• YTD: -15.64%
• 6M: -18.13%
• 1Y: -14.80%
• 3Y*: 62.17%
• 5Y*: 34.85%
• 10Y*: 25.16%

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

FR vs. NRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FR First Industrial Realty Trust, Inc.	5.78%	18.17%	-2.01%	11.91%	-25.37%	60.33%	4.24%	47.37%	-5.61%	15.50%
NRG NRG Energy, Inc.	-15.64%	78.91%	78.58%	69.36%	-23.47%	18.54%	-2.14%	0.69%	39.59%	133.69%

Correlation

The correlation between FR and NRG 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	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 3, 2003	0.32

The correlation between FR and NRG shifts across timeframes, from 0.14 (1 year) to 0.32 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS FR : $3.57 NRG : $1.21
PE Ratio FR : 16.80 NRG : 110.24
PS Ratio FR : 8.02 NRG : 0.81
Total Revenue (TTM) FR : $744.49M NRG : $32.38B
Gross Profit (TTM) FR : $450.27M NRG : $4.69B
EBITDA (TTM) FR : $506.99M NRG : $2.57B

Return for Risk

FR vs. NRG — Risk / Return Rank

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

FR

FR Risk / Return Rank: 76
FR Sharpe Ratio Rank: 78
FR Sortino Ratio Rank: 73
FR Omega Ratio Rank: 69
FR Calmar Ratio Rank: 79
FR Martin Ratio Rank: 83

NRG

NRG Risk / Return Rank: 24
NRG Sharpe Ratio Rank: 26
NRG Sortino Ratio Rank: 26
NRG Omega Ratio Rank: 25
NRG Calmar Ratio Rank: 26
NRG Martin Ratio Rank: 18

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.

FR vs. NRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Industrial Realty Trust, Inc. (FR) and NRG Energy, Inc. (NRG). 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.

	FR	NRG	Difference
Sharpe ratio Return per unit of total volatility	1.31	-0.33	+1.65
Sortino ratio Return per unit of downside risk	1.93	-0.18	+2.12
Omega ratio Gain probability vs. loss probability	1.22	0.98	+0.25
Calmar ratio Return relative to maximum drawdown	2.51	-0.41	+2.92
Martin ratio Return relative to average drawdown	8.05	-1.06	+9.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FR vs. NRG - Sharpe Ratio Comparison

The current FR Sharpe Ratio is 1.31, which is higher than the NRG Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of FR and NRG, 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

	FR	NRG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	-0.33	+1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.88	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.64	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.36	-0.16

Drawdowns

FR vs. NRG - Drawdown Comparison

The maximum FR drawdown since its inception was -95.42%, which is greater than NRG's maximum drawdown of -79.41%. Use the drawdown chart below to compare losses from any high point for FR and NRG.

Drawdown Indicators

	FR	NRG	Difference
Max Drawdown Largest peak-to-trough decline	-95.42%	-79.41%	-16.01%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-32.57%	+22.33%
Max Drawdown (3Y) Largest decline over 3 years	-25.42%	-32.57%	+7.15%
Max Drawdown (5Y) Largest decline over 5 years	-35.95%	-32.62%	-3.33%
Max Drawdown (10Y) Largest decline over 10 years	-41.12%	-48.76%	+7.64%
Current Drawdown Current decline from peak	-6.75%	-27.23%	+20.48%
Average Drawdown Average peak-to-trough decline	-25.36%	-28.00%	+2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	12.68%	-9.49%

Volatility

FR vs. NRG - Volatility Comparison

The current volatility for First Industrial Realty Trust, Inc. (FR) is 5.73%, while NRG Energy, Inc. (NRG) has a volatility of 15.33%. This indicates that FR experiences smaller price fluctuations and is considered to be less risky than NRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FR	NRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	15.33%	-9.60%
Volatility (6M) Calculated over the trailing 6-month period	13.68%	34.42%	-20.74%
Volatility (1Y) Calculated over the trailing 1-year period	19.60%	44.37%	-24.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.81%	39.97%	-17.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.36%	39.29%	-14.93%

Dividends

FR vs. NRG - Dividend Comparison

FR's dividend yield for the trailing twelve months is around 3.06%, more than NRG's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FR First Industrial Realty Trust, Inc.	3.06%	3.11%	2.95%	2.43%	2.45%	1.63%	2.37%	2.22%	3.01%	2.67%	2.71%	2.30%
NRG NRG Energy, Inc.	1.37%	1.11%	1.81%	2.92%	4.40%	3.02%	3.20%	0.30%	0.30%	0.42%	1.92%	4.93%

Financials

FR vs. NRG - Profitability Comparison

The chart below illustrates the profitability comparison between First Industrial Realty Trust, Inc. and NRG Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Industrial Realty Trust, Inc. reported a gross profit of 141.21M and revenue of 194.83M. Therefore, the gross margin over that period was 72.5%.

NRG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NRG Energy, Inc. reported a gross profit of 0.00 and revenue of 10.26B. Therefore, the gross margin over that period was 0.0%.

FR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Industrial Realty Trust, Inc. reported an operating income of 118.24M and revenue of 194.83M, resulting in an operating margin of 60.7%.

NRG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NRG Energy, Inc. reported an operating income of 328.00M and revenue of 10.26B, resulting in an operating margin of 3.2%.

FR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Industrial Realty Trust, Inc. reported a net income of 155.84M and revenue of 194.83M, resulting in a net margin of 80.0%.

NRG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NRG Energy, Inc. reported a net income of 125.00M and revenue of 10.26B, resulting in a net margin of 1.2%.

Frequently Asked Questions

Can I hold both FR and NRG in my portfolio?

FR and NRG 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.

Which is riskier, FR or NRG?

NRG has higher volatility (15.33%) compared to FR (5.73%). In terms of maximum drawdown, FR dropped -95.42% vs NRG's -79.41%.

Which has better risk-adjusted returns?

FR currently has the higher Sharpe Ratio (1.31 vs -0.33), 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.