KOLD vs. NGS
KOLD (ProShares UltraShort Bloomberg Natural Gas) is Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while NGS (Natural Gas Services Group, Inc.) is a stock. Over the past 10 years, KOLD returned -25.09%/yr vs 6.52%/yr for NGS. At a correlation of -0.08, they often move in opposite directions.
Performance
KOLD vs. NGS - Performance Comparison
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Returns By Period
In the year-to-date period, KOLD achieves a -37.17% return, which is significantly lower than NGS's 29.60% return. Over the past 10 years, KOLD has underperformed NGS with an annualized return of -25.09%, while NGS has yielded a comparatively higher 6.52% annualized return.
KOLD
- 1D
- -0.18%
- 1M
- -14.27%
- YTD
- -37.17%
- 6M
- -42.50%
- 1Y
- 9.00%
- 3Y*
- -6.55%
- 5Y*
- -38.86%
- 10Y*
- -25.09%
NGS
- 1D
- 2.92%
- 1M
- 1.93%
- YTD
- 29.60%
- 6M
- 33.44%
- 1Y
- 63.19%
- 3Y*
- 64.85%
- 5Y*
- 32.53%
- 10Y*
- 6.52%
KOLD vs. NGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KOLD ProShares UltraShort Bloomberg Natural Gas | -37.17% | -17.48% | -11.34% | 249.82% | -88.62% | -74.44% | 22.05% | 82.94% | -46.48% | 72.02% |
NGS Natural Gas Services Group, Inc. | 29.60% | 26.53% | 66.67% | 40.31% | 9.46% | 10.44% | -22.68% | -25.43% | -37.25% | -18.51% |
Correlation
The correlation between KOLD and NGS is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | -0.08 |
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Return for Risk
KOLD vs. NGS — Risk / Return Rank
KOLD
NGS
KOLD vs. NGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Natural Gas (KOLD) and Natural Gas Services Group, Inc. (NGS). 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.
| KOLD | NGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.32 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | 4.73 | -4.61 |
| Martin ratioReturn relative to average drawdown | 0.24 | 13.71 | -13.47 |
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Drawdowns
KOLD vs. NGS - Drawdown Comparison
The maximum KOLD drawdown since its inception was -99.45%, which is greater than NGS's maximum drawdown of -89.59%. Use the drawdown chart below to compare losses from any high point for KOLD and NGS.
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Drawdown Indicators
| KOLD | NGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -89.59% | -9.86% |
Max Drawdown (1Y)Largest decline over 1 year | -72.50% | -13.42% | -59.08% |
Max Drawdown (3Y)Largest decline over 3 years | -84.34% | -40.89% | -43.45% |
Max Drawdown (5Y)Largest decline over 5 years | -98.07% | -40.89% | -57.18% |
Max Drawdown (10Y)Largest decline over 10 years | -99.45% | -87.91% | -11.54% |
Current DrawdownCurrent decline from peak | -97.43% | -0.57% | -96.86% |
Average DrawdownAverage peak-to-trough decline | -69.56% | -47.53% | -22.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.81% | 4.66% | +33.15% |
Volatility
KOLD vs. NGS - Volatility Comparison
ProShares UltraShort Bloomberg Natural Gas (KOLD) has a higher volatility of 23.90% compared to Natural Gas Services Group, Inc. (NGS) at 10.84%. This indicates that KOLD's price experiences larger fluctuations and is considered to be riskier than NGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KOLD | NGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.90% | 10.84% | +13.06% |
Volatility (6M)Calculated over the trailing 6-month period | 96.77% | 22.41% | +74.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.49% | 33.05% | +80.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.83% | 44.10% | +74.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.81% | 46.23% | +55.58% |
Dividends
KOLD vs. NGS - Dividend Comparison
KOLD has not paid dividends to shareholders, while NGS's dividend yield for the trailing twelve months is around 1.08%.
| Position | TTM | 2025 |
|---|---|---|
KOLD ProShares UltraShort Bloomberg Natural Gas | 0.00% | 0.00% |
NGS Natural Gas Services Group, Inc. | 1.08% | 0.62% |
Frequently Asked Questions
KOLD and NGS have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KOLD has higher volatility (23.90%) compared to NGS (10.84%). In terms of maximum drawdown, KOLD dropped -99.45% vs NGS's -89.59%.
NGS currently has the higher Sharpe Ratio (1.93 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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