MLI vs. WLK

Last updated Jun 3, 2026

MLI (Mueller Industries, Inc.) and WLK (Westlake Corporation) are both stocks. MLI operates in Metal Fabrication (Industrials), while WLK operates in Specialty Chemicals (Basic Materials). Over the past 10 years, MLI returned 26.21%/yr vs 8.45%/yr for WLK. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

MLI vs. WLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mueller Industries, Inc. (MLI) and Westlake Corporation (WLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLI achieves a 14.10% return, which is significantly lower than WLK's 18.73% return. Over the past 10 years, MLI has outperformed WLK with an annualized return of 26.21%, while WLK has yielded a comparatively lower 8.45% annualized return.

MLI

• 1D: 3.37%
• 1M: -1.85%
• YTD: 14.10%
• 6M: 18.54%
• 1Y: 70.66%
• 3Y*: 50.83%
• 5Y*: 43.31%
• 10Y*: 26.21%

WLK

• 1D: 0.52%
• 1M: -24.04%
• YTD: 18.73%
• 6M: 31.81%
• 1Y: 27.64%
• 3Y*: -6.60%
• 5Y*: -2.14%
• 10Y*: 8.45%

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

MLI vs. WLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLI Mueller Industries, Inc.	14.10%	46.29%	70.51%	62.38%	1.05%	70.95%	12.30%	37.79%	-33.10%	-2.76%
WLK Westlake Corporation	18.73%	-33.77%	-16.90%	38.23%	6.81%	20.53%	18.52%	7.72%	-37.27%	92.39%

Correlation

The correlation between MLI and WLK is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Aug 12, 2004	0.52

Over the past year, the correlation between MLI and WLK has dropped to 0.28 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

Fundamentals

EPS MLI : $10.18 WLK : -$12.75
PS Ratio MLI : 2.49 WLK : 1.02
Total Revenue (TTM) MLI : $4.37B WLK : $10.98B
Gross Profit (TTM) MLI : $871.92M WLK : $169.00M
EBITDA (TTM) MLI : $1.03B WLK : -$659.00M

Return for Risk

MLI vs. WLK — Risk / Return Rank

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

MLI

MLI Risk / Return Rank: 86
MLI Sharpe Ratio Rank: 90
MLI Sortino Ratio Rank: 86
MLI Omega Ratio Rank: 89
MLI Calmar Ratio Rank: 82
MLI Martin Ratio Rank: 84

WLK

WLK Risk / Return Rank: 57
WLK Sharpe Ratio Rank: 60
WLK Sortino Ratio Rank: 58
WLK Omega Ratio Rank: 53
WLK Calmar Ratio Rank: 55
WLK Martin Ratio Rank: 58

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.

MLI vs. WLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mueller Industries, Inc. (MLI) and Westlake Corporation (WLK). 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.

	MLI	WLK	Difference
Sharpe ratio Return per unit of total volatility	2.36	0.59	+1.77
Sortino ratio Return per unit of downside risk	2.92	1.20	+1.72
Omega ratio Gain probability vs. loss probability	1.42	1.13	+0.29
Calmar ratio Return relative to maximum drawdown	3.12	0.67	+2.44
Martin ratio Return relative to average drawdown	8.65	1.77	+6.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLI vs. WLK - Sharpe Ratio Comparison

The current MLI Sharpe Ratio is 2.36, which is higher than the WLK Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of MLI and WLK, 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

	MLI	WLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	0.59	+1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	-0.06	+1.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.22	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.32	+0.16

Drawdowns

MLI vs. WLK - Drawdown Comparison

The maximum MLI drawdown since its inception was -61.72%, smaller than the maximum WLK drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for MLI and WLK.

Drawdown Indicators

	MLI	WLK	Difference
Max Drawdown Largest peak-to-trough decline	-61.72%	-75.16%	+13.44%
Max Drawdown (1Y) Largest decline over 1 year	-22.33%	-37.77%	+15.44%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-64.20%	+36.41%
Max Drawdown (5Y) Largest decline over 5 years	-27.79%	-64.20%	+36.41%
Max Drawdown (10Y) Largest decline over 10 years	-52.95%	-75.16%	+22.21%
Current Drawdown Current decline from peak	-7.29%	-43.77%	+36.48%
Average Drawdown Average peak-to-trough decline	-16.05%	-26.20%	+10.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.04%	14.42%	-6.38%

Volatility

MLI vs. WLK - Volatility Comparison

The current volatility for Mueller Industries, Inc. (MLI) is 11.12%, while Westlake Corporation (WLK) has a volatility of 13.02%. This indicates that MLI experiences smaller price fluctuations and is considered to be less risky than WLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLI	WLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.12%	13.02%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	25.74%	33.02%	-7.28%
Volatility (1Y) Calculated over the trailing 1-year period	30.11%	47.19%	-17.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.04%	36.98%	-3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.77%	39.38%	-3.61%

Dividends

MLI vs. WLK - Dividend Comparison

MLI's dividend yield for the trailing twelve months is around 0.84%, less than WLK's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLI Mueller Industries, Inc.	0.84%	0.87%	1.01%	1.27%	1.69%	0.88%	1.14%	1.26%	1.71%	9.60%	0.94%	1.11%
WLK Westlake Corporation	2.44%	2.85%	1.79%	1.12%	1.28%	1.17%	1.31%	1.46%	1.39%	0.75%	1.33%	1.28%

Financials

MLI vs. WLK - Profitability Comparison

The chart below illustrates the profitability comparison between Mueller Industries, Inc. and Westlake Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MLI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported a gross profit of 0.00 and revenue of 1.19B. Therefore, the gross margin over that period was 0.0%.

WLK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported a gross profit of 112.00M and revenue of 2.65B. Therefore, the gross margin over that period was 4.2%.

MLI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported an operating income of 312.23M and revenue of 1.19B, resulting in an operating margin of 26.2%.

WLK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported an operating income of -172.00M and revenue of 2.65B, resulting in an operating margin of -6.5%.

MLI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported a net income of 239.02M and revenue of 1.19B, resulting in a net margin of 20.0%.

WLK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported a net income of -169.00M and revenue of 2.65B, resulting in a net margin of -6.4%.

Frequently Asked Questions

Can I hold both MLI and WLK in my portfolio?

MLI and WLK have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLI or WLK?

WLK has higher volatility (13.02%) compared to MLI (11.12%). In terms of maximum drawdown, MLI dropped -61.72% vs WLK's -75.16%.

Which has better risk-adjusted returns?

MLI currently has the higher Sharpe Ratio (2.36 vs 0.59), 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.