HESM vs. MBIN
HESM (Hess Midstream LP) and MBIN (Merchants Bancorp) are both stocks. HESM operates in Oil & Gas Midstream (Energy), while MBIN operates in Banks - Regional (Financial Services). Over the past 5 years, HESM returned 18.37%/yr vs 18.93%/yr for MBIN. Their 0.24 correlation means their historical movements had little consistent relationship.
Performance
HESM vs. MBIN - Performance Comparison
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Returns By Period
In the year-to-date period, HESM achieves a 23.43% return, which is significantly lower than MBIN's 62.79% return.
HESM
- 1D
- 1.39%
- 1M
- 7.00%
- 6M
- 20.05%
- YTD
- 23.43%
- 1Y
- 4.27%
- 3Y*
- 17.90%
- 5Y*
- 18.37%
- 10Y*
- —
- ALL TIME*
- 13.23%
MBIN
- 1D
- -0.59%
- 1M
- 13.03%
- 6M
- 33.73%
- YTD
- 62.79%
- 1Y
- 91.12%
- 3Y*
- 21.56%
- 5Y*
- 18.93%
- 10Y*
- —
- ALL TIME*
- 21.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.91M | $33.50M | $60.81M | |
| $10.24M | $8.41M | $7.85M |
HESM vs. MBIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HESM Hess Midstream LP | 23.43% | 0.56% | 26.41% | 14.36% | 16.62% | 52.91% | -5.29% | 43.83% | -8.61% | -2.71% |
MBIN Merchants Bancorp | 62.79% | -5.51% | -13.59% | 77.01% | -22.06% | 72.80% | 42.55% | 0.30% | 2.43% | 16.05% |
Correlation
The correlation between HESM and MBIN is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.24 |
Over the past year, the correlation between HESM and MBIN has dropped to 0.04 - well below their long-term average of 0.24, suggesting their price drivers have been diverging.
Fundamentals
HESM:
$8.44B
MBIN:
$2.53B
HESM:
$2.85
MBIN:
$5.84
HESM:
14.35
MBIN:
9.45
HESM:
3.25
MBIN:
2.01
HESM:
14.07
MBIN:
1.06
HESM:
$1.63B
MBIN:
$1.26B
HESM:
$1.13B
MBIN:
$298.10M
HESM:
$1.24B
MBIN:
$141.76M
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Return for Risk
HESM vs. MBIN — Risk / Return Rank
HESM
MBIN
HESM vs. MBIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hess Midstream LP (HESM) and Merchants Bancorp (MBIN). 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.
| HESM | MBIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.45 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 6.83 | -6.76 |
| Martin ratioReturn relative to average drawdown | 0.15 | 16.55 | -16.40 |
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Drawdowns
HESM vs. MBIN - Drawdown Comparison
The maximum HESM drawdown since its inception was -75.16%, which is greater than MBIN's maximum drawdown of -53.77%. Use the drawdown chart below to compare losses from any high point for HESM and MBIN.
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Drawdown Indicators
| HESM | MBIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.16% | -53.77% | -21.39% |
Max Drawdown (1Y)Largest decline over 1 year | -25.05% | -13.30% | -11.75% |
Max Drawdown (3Y)Largest decline over 3 years | -25.78% | -43.94% | +18.16% |
Max Drawdown (5Y)Largest decline over 5 years | -28.72% | -43.94% | +15.22% |
Current DrawdownCurrent decline from peak | 0.00% | -0.59% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -11.66% | -19.65% | +7.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.78% | 5.48% | +7.30% |
Volatility
HESM vs. MBIN - Volatility Comparison
The current volatility for Hess Midstream LP (HESM) is 5.55%, while Merchants Bancorp (MBIN) has a volatility of 13.20%. This indicates that HESM experiences smaller price fluctuations and is considered to be less risky than MBIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HESM | MBIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 13.20% | -7.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.55% | 23.83% | -8.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.79% | 35.95% | -13.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.82% | 36.06% | -9.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.59% | 40.17% | -1.58% |
Dividends
HESM vs. MBIN - Dividend Comparison
HESM's dividend yield for the trailing twelve months is around 7.43%, more than MBIN's 0.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HESM Hess Midstream LP | 7.43% | 8.41% | 7.12% | 7.50% | 7.30% | 6.93% | 8.86% | 6.89% | 8.00% | 2.93% |
MBIN Merchants Bancorp | 0.76% | 1.17% | 0.99% | 0.75% | 1.15% | 0.76% | 1.16% | 1.42% | 1.20% | 0.25% |
Financials
HESM vs. MBIN - Financials Comparison
This section allows you to compare key financial metrics between Hess Midstream LP and Merchants Bancorp. 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. MBIN - Profitability Comparison
HESM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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%.
MBIN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Merchants Bancorp reported a gross profit of -159.95M and revenue of 247.47M. Therefore, the gross margin over that period was -64.6%.
HESM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Hess Midstream LP reported an operating income of 238.10M and revenue of 390.10M, resulting in an operating margin of 61.0%.
MBIN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Merchants Bancorp reported an operating income of -84.31M and revenue of 247.47M, resulting in an operating margin of -34.1%.
HESM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Hess Midstream LP reported a net income of 87.60M and revenue of 390.10M, resulting in a net margin of 22.5%.
MBIN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Merchants Bancorp reported a net income of 78.30M and revenue of 247.47M, resulting in a net margin of 31.6%.
Frequently Asked Questions
HESM and MBIN have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBIN has higher volatility (13.20%) compared to HESM (5.55%). In terms of maximum drawdown, HESM dropped -75.16% vs MBIN's -53.77%.
MBIN currently has the higher Sharpe Ratio (2.56 vs 0.08), 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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