HTO vs. MSEX
HTO (H2O America) 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, HTO returned 6.46%/yr vs 4.97%/yr for MSEX. At a 0.39 correlation, their price movements are largely independent.
Performance
HTO vs. MSEX - Performance Comparison
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Returns By Period
In the year-to-date period, HTO achieves a 16.55% return, which is significantly higher than MSEX's 5.78% return. Over the past 10 years, HTO has outperformed MSEX with an annualized return of 6.46%, while MSEX has yielded a comparatively lower 4.97% annualized return.
HTO
- 1D
- -2.16%
- 1M
- -2.33%
- YTD
- 16.55%
- 6M
- 22.56%
- 1Y
- 13.24%
- 3Y*
- -6.63%
- 5Y*
- -0.01%
- 10Y*
- 6.46%
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%
HTO vs. MSEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTO H2O America | 16.55% | 2.92% | -22.57% | -17.78% | 13.40% | 7.66% | -0.43% | 30.19% | -11.20% | 16.22% |
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 HTO and MSEX is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990 | 0.39 |
Over the past year, HTO and MSEX have become more correlated (0.75) than their long-term average of 0.39, meaning their price movements have been converging.
Fundamentals
HTO:
$2.90
MSEX:
$3.22
HTO:
19.40
MSEX:
16.34
HTO:
2.01
MSEX:
2.68
HTO:
2.50
MSEX:
3.61
HTO:
$816.28M
MSEX:
$199.11M
HTO:
$335.79M
MSEX:
$66.33M
HTO:
$273.35M
MSEX:
$86.27M
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Return for Risk
HTO vs. MSEX — Risk / Return Rank
HTO
MSEX
HTO vs. MSEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for H2O America (HTO) 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.
| HTO | MSEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.01 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.17 | +0.97 |
| Martin ratioReturn relative to average drawdown | 1.81 | -0.30 | +2.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HTO | MSEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.57 | -0.12 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | -0.25 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.15 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.32 | +0.07 |
Drawdowns
HTO vs. MSEX - Drawdown Comparison
The maximum HTO drawdown since its inception was -54.53%, smaller than the maximum MSEX drawdown of -60.51%. Use the drawdown chart below to compare losses from any high point for HTO and MSEX.
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Drawdown Indicators
| HTO | MSEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.53% | -60.51% | +5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -16.72% | -21.04% | +4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -37.31% | -44.52% | +7.21% |
Max Drawdown (5Y)Largest decline over 5 years | -42.85% | -60.51% | +17.66% |
Max Drawdown (10Y)Largest decline over 10 years | -42.85% | -60.51% | +17.66% |
Current DrawdownCurrent decline from peak | -25.79% | -52.07% | +26.28% |
Average DrawdownAverage peak-to-trough decline | -15.90% | -12.86% | -3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.33% | 12.07% | -4.74% |
Volatility
HTO vs. MSEX - Volatility Comparison
H2O America (HTO) has a higher volatility of 6.28% compared to Middlesex Water Company (MSEX) at 5.32%. This indicates that HTO'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.
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Volatility by Period
| HTO | MSEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 5.32% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 18.12% | -1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.32% | 30.28% | -6.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.04% | 31.16% | -7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.57% | 32.34% | -2.77% |
Dividends
HTO vs. MSEX - Dividend Comparison
HTO's dividend yield for the trailing twelve months is around 3.06%, more than MSEX's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HTO H2O America | 3.06% | 3.43% | 3.25% | 2.33% | 1.77% | 1.86% | 1.85% | 1.69% | 2.01% | 1.63% | 1.45% | 2.63% |
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
HTO vs. MSEX - Financials Comparison
This section allows you to compare key financial metrics between H2O America 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
HTO vs. MSEX - Profitability Comparison
HTO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, H2O America reported a gross profit of 0.00 and revenue of 183.29M. 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%.
HTO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, H2O America reported an operating income of 37.43M and revenue of 183.29M, resulting in an operating margin of 20.4%.
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%.
HTO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, H2O America reported a net income of 19.01M and revenue of 183.29M, resulting in a net margin of 10.4%.
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
HTO and MSEX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTO has higher volatility (6.28%) compared to MSEX (5.32%). In terms of maximum drawdown, HTO dropped -54.53% vs MSEX's -60.51%.
HTO currently has the higher Sharpe Ratio (0.57 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.
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