MPLX vs. HESM
MPLX (MPLX LP) and HESM (Hess Midstream LP) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 5 years, MPLX returned 26.27%/yr vs 18.37%/yr for HESM. Their 0.49 correlation means their historical movements had little consistent relationship.
Performance
MPLX vs. HESM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MPLX achieves a 13.84% return, which is significantly lower than HESM's 23.43% return.
MPLX
- 1D
- 1.46%
- 1M
- 2.26%
- 6M
- 8.69%
- YTD
- 13.84%
- 1Y
- 21.94%
- 3Y*
- 28.15%
- 5Y*
- 26.27%
- 10Y*
- 16.18%
- ALL TIME*
- 14.28%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.91M | $33.50M | $60.81M | |
MPLX MPLX LP | $99.98M | $86.91M | $97.76M |
MPLX vs. HESM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPLX MPLX LP | 13.84% | 20.54% | 41.72% | 22.46% | 21.09% | 53.92% | -1.79% | -8.25% | -8.43% | -0.17% |
HESM Hess Midstream LP | 23.43% | 0.56% | 26.41% | 14.36% | 16.62% | 52.91% | -5.29% | 43.83% | -8.61% | -20.06% |
Correlation
The correlation between MPLX and HESM is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2017 | 0.49 |
The correlation between MPLX and HESM has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
Fundamentals
MPLX:
$59.31B
HESM:
$8.44B
MPLX:
$6.94
HESM:
$2.85
MPLX:
8.43
HESM:
14.35
MPLX:
0.58
HESM:
1.16
MPLX:
3.16
HESM:
3.25
MPLX:
$12.54B
HESM:
$1.63B
MPLX:
$7.52B
HESM:
$1.13B
MPLX:
$6.90B
HESM:
$1.24B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MPLX vs. HESM — Risk / Return Rank
MPLX
HESM
MPLX vs. HESM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MPLX LP (MPLX) and Hess Midstream LP (HESM). 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.
| MPLX | HESM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.03 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 0.07 | +2.59 |
| Martin ratioReturn relative to average drawdown | 6.14 | 0.15 | +5.99 |
Loading charts...
Drawdowns
MPLX vs. HESM - Drawdown Comparison
The maximum MPLX drawdown since its inception was -85.72%, which is greater than HESM's maximum drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for MPLX and HESM.
Loading charts...
Drawdown Indicators
| MPLX | HESM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.72% | -75.16% | -10.56% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -25.05% | +17.34% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | -25.78% | +11.20% |
Max Drawdown (5Y)Largest decline over 5 years | -18.46% | -28.72% | +10.26% |
Max Drawdown (10Y)Largest decline over 10 years | -75.21% | — | — |
Current DrawdownCurrent decline from peak | -1.27% | 0.00% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -29.68% | -11.66% | -18.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 12.78% | -9.45% |
Volatility
MPLX vs. HESM - Volatility Comparison
MPLX LP (MPLX) and Hess Midstream LP (HESM) have volatilities of 5.31% and 5.55%, 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.
Loading charts...
Volatility by Period
| MPLX | HESM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 5.55% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 15.55% | -3.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 22.79% | -6.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 26.82% | -7.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.42% | 38.59% | -8.17% |
Dividends
MPLX vs. HESM - Dividend Comparison
MPLX's dividend yield for the trailing twelve months is around 7.16%, less than HESM's 7.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HESM Hess Midstream LP | 7.43% | 8.41% | 7.12% | 7.50% | 7.30% | 6.93% | 8.86% | 6.89% | 8.00% | 2.93% | 0.00% | 0.00% |
MPLX MPLX LP | 7.16% | 7.39% | 7.33% | 8.65% | 8.80% | 11.30% | 12.70% | 10.41% | 8.22% | 6.23% | 5.86% | 4.33% |
Financials
MPLX vs. HESM - Financials Comparison
This section allows you to compare key financial metrics between MPLX LP and Hess Midstream LP. 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
MPLX vs. HESM - Profitability Comparison
MPLX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, MPLX LP reported a gross profit of 2.64B and revenue of 3.04B. Therefore, the gross margin over that period was 86.8%.
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%.
MPLX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, MPLX LP reported an operating income of 1.21B and revenue of 3.04B, resulting in an operating margin of 40.0%.
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%.
MPLX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, MPLX LP reported a net income of 922.00M and revenue of 3.04B, resulting in a net margin of 30.4%.
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%.
Frequently Asked Questions
MPLX and HESM have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HESM has higher volatility (5.55%) compared to MPLX (5.31%). In terms of maximum drawdown, MPLX dropped -85.72% vs HESM's -75.16%.
MPLX currently has the higher Sharpe Ratio (1.25 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.
Find the right allocation for MPLX and HESM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer