HESM vs. KMI
HESM (Hess Midstream LP) and KMI (Kinder Morgan, Inc.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 5 years, HESM returned 17.19%/yr vs 16.97%/yr for KMI. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
HESM vs. KMI - Performance Comparison
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Returns By Period
In the year-to-date period, HESM achieves a 17.71% return, which is significantly higher than KMI's 15.99% return.
HESM
- 1D
- 0.31%
- 1M
- 2.02%
- YTD
- 17.71%
- 6M
- 18.47%
- 1Y
- 8.48%
- 3Y*
- 19.59%
- 5Y*
- 17.19%
- 10Y*
- —
KMI
- 1D
- -1.23%
- 1M
- -0.38%
- YTD
- 15.99%
- 6M
- 16.84%
- 1Y
- 15.80%
- 3Y*
- 28.85%
- 5Y*
- 16.97%
- 10Y*
- 11.49%
HESM vs. KMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HESM Hess Midstream LP | 17.71% | 0.56% | 26.41% | 14.36% | 16.62% | 52.91% | -5.29% | 43.83% | -8.61% | -20.37% |
KMI Kinder Morgan, Inc. | 15.99% | 4.74% | 64.42% | 4.10% | 21.23% | 23.75% | -30.77% | 44.43% | -11.18% | -14.21% |
Correlation
The correlation between HESM and KMI is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2017 | 0.52 |
The correlation between HESM and KMI shifts across timeframes, from 0.50 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
HESM:
$5.03B
KMI:
$69.62B
HESM:
$2.89
KMI:
$1.53
HESM:
13.48
KMI:
20.46
HESM:
1.09
KMI:
1.25
HESM:
3.05
KMI:
3.97
HESM:
13.42
KMI:
2.22
HESM:
$1.63B
KMI:
$17.52B
HESM:
$1.13B
KMI:
$5.86B
HESM:
$1.24B
KMI:
$6.90B
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Return for Risk
HESM vs. KMI — Risk / Return Rank
HESM
KMI
HESM vs. KMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hess Midstream LP (HESM) and Kinder Morgan, Inc. (KMI). 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.
| HESM | KMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.15 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 1.43 | -1.10 |
| Martin ratioReturn relative to average drawdown | 0.67 | 2.87 | -2.20 |
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
| HESM | KMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.35 | 0.78 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.76 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.17 | +0.16 |
Drawdowns
HESM vs. KMI - Drawdown Comparison
The maximum HESM drawdown since its inception was -75.16%, roughly equal to the maximum KMI drawdown of -72.70%. Use the drawdown chart below to compare losses from any high point for HESM and KMI.
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Drawdown Indicators
| HESM | KMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.16% | -72.70% | -2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -25.78% | -11.11% | -14.67% |
Max Drawdown (3Y)Largest decline over 3 years | -25.78% | -18.40% | -7.38% |
Max Drawdown (5Y)Largest decline over 5 years | -28.72% | -20.31% | -8.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.13% | — |
Current DrawdownCurrent decline from peak | -4.39% | -8.80% | +4.41% |
Average DrawdownAverage peak-to-trough decline | -11.78% | -32.04% | +20.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.65% | 5.53% | +7.12% |
Volatility
HESM vs. KMI - Volatility Comparison
Hess Midstream LP (HESM) and Kinder Morgan, Inc. (KMI) have volatilities of 7.26% and 6.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HESM | KMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 6.99% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 14.73% | 14.80% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.06% | 20.32% | +3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.34% | 22.59% | +4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.83% | 27.73% | +11.10% |
Dividends
HESM vs. KMI - Dividend Comparison
HESM's dividend yield for the trailing twelve months is around 7.79%, more than KMI's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HESM Hess Midstream LP | 7.79% | 8.41% | 7.12% | 7.50% | 7.30% | 6.93% | 8.86% | 6.89% | 8.00% | 2.93% | 0.00% | 0.00% |
KMI Kinder Morgan, Inc. | 3.76% | 4.24% | 4.18% | 6.38% | 6.10% | 6.76% | 7.59% | 4.49% | 4.71% | 2.77% | 2.41% | 12.94% |
Financials
HESM vs. KMI - Financials Comparison
This section allows you to compare key financial metrics between Hess Midstream LP and Kinder Morgan, Inc.. 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
HESM vs. KMI - Profitability Comparison
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%.
KMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported a gross profit of 0.00 and revenue of 4.83B. Therefore, the gross margin over that period was 0.0%.
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%.
KMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported an operating income of 1.44B and revenue of 4.83B, resulting in an operating margin of 29.9%.
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%.
KMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported a net income of 1.06B and revenue of 4.83B, resulting in a net margin of 22.0%.
Frequently Asked Questions
HESM and KMI have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HESM has higher volatility (7.26%) compared to KMI (6.99%). In terms of maximum drawdown, HESM dropped -75.16% vs KMI's -72.70%.
KMI currently has the higher Sharpe Ratio (0.78 vs 0.35), 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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