MSA vs. BKH
MSA (MSA Safety Incorporated) and BKH (Black Hills Corporation) are both stocks. MSA operates in Security & Protection Services (Industrials), while BKH operates in Utilities - Diversified (Utilities). Over the past 10 years, MSA returned 14.82%/yr vs 4.90%/yr for BKH. Their 0.26 correlation means their historical movements had little consistent relationship.
Performance
MSA vs. BKH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MSA achieves a 19.50% return, which is significantly higher than BKH's 4.55% return. Over the past 10 years, MSA has outperformed BKH with an annualized return of 14.82%, while BKH has yielded a comparatively lower 4.90% annualized return.
MSA
- 1D
- 9.13%
- 1M
- 11.74%
- 6M
- 8.02%
- YTD
- 19.50%
- 1Y
- 8.28%
- 3Y*
- 3.11%
- 5Y*
- 4.23%
- 10Y*
- 14.82%
- ALL TIME*
- 12.40%
BKH
- 1D
- -1.41%
- 1M
- -3.30%
- 6M
- -0.55%
- YTD
- 4.55%
- 1Y
- 28.24%
- 3Y*
- 11.13%
- 5Y*
- 5.20%
- 10Y*
- 4.90%
- ALL TIME*
- 10.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $45.52M | $54.01M | $68.22M | |
| $52.68M | $45.55M | $54.48M |
MSA vs. BKH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSA MSA Safety Incorporated | 19.50% | -2.14% | -0.71% | 18.52% | -3.15% | 2.14% | 19.79% | 36.10% | 23.61% | 13.97% |
BKH Black Hills Corporation | 4.55% | 23.93% | 13.57% | -19.95% | 3.08% | 18.86% | -19.05% | 28.60% | 7.98% | 0.81% |
Correlation
The correlation between MSA and BKH is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.28 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 1990 | 0.26 |
The correlation between MSA and BKH shifts across timeframes, from 0.19 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MSA:
$7.35B
BKH:
$5.42B
MSA:
$10.68
BKH:
$2.08
MSA:
17.81
BKH:
34.24
MSA:
0.07
BKH:
20.43
MSA:
2.87
BKH:
2.33
MSA:
$1.95B
BKH:
$2.29B
MSA:
$925.88M
BKH:
$596.90M
MSA:
$483.61M
BKH:
$554.70M
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
MSA vs. BKH — Risk / Return Rank
MSA
BKH
MSA vs. BKH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MSA Safety Incorporated (MSA) and Black Hills Corporation (BKH). 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.
| MSA | BKH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.23 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 2.59 | -2.23 |
| Martin ratioReturn relative to average drawdown | 0.71 | 7.72 | -7.00 |
Loading charts...
Drawdowns
MSA vs. BKH - Drawdown Comparison
The maximum MSA drawdown since its inception was -70.32%, which is greater than BKH's maximum drawdown of -65.72%. Use the drawdown chart below to compare losses from any high point for MSA and BKH.
Loading charts...
Drawdown Indicators
| MSA | BKH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.32% | -65.72% | -4.60% |
Max Drawdown (1Y)Largest decline over 1 year | -22.60% | -10.94% | -11.66% |
Max Drawdown (3Y)Largest decline over 3 years | -34.28% | -18.28% | -16.00% |
Max Drawdown (5Y)Largest decline over 5 years | -34.28% | -36.98% | +2.70% |
Max Drawdown (10Y)Largest decline over 10 years | -38.39% | -40.45% | +2.06% |
Current DrawdownCurrent decline from peak | -5.77% | -6.43% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -16.15% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.64% | 3.67% | +7.97% |
Volatility
MSA vs. BKH - Volatility Comparison
MSA Safety Incorporated (MSA) has a higher volatility of 10.41% compared to Black Hills Corporation (BKH) at 6.15%. This indicates that MSA's price experiences larger fluctuations and is considered to be riskier than BKH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MSA | BKH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.41% | 6.15% | +4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 19.77% | 18.00% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.09% | 22.61% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.16% | 22.39% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.80% | 25.59% | +3.21% |
Dividends
MSA vs. BKH - Dividend Comparison
MSA's dividend yield for the trailing twelve months is around 1.12%, less than BKH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKH Black Hills Corporation | 3.87% | 3.90% | 4.44% | 4.63% | 3.43% | 3.25% | 3.53% | 2.61% | 3.07% | 3.01% | 2.74% | 3.49% |
MSA MSA Safety Incorporated | 1.12% | 1.31% | 1.21% | 1.11% | 1.26% | 1.16% | 1.14% | 1.30% | 1.58% | 1.78% | 1.89% | 2.92% |
Financials
MSA vs. BKH - Financials Comparison
This section allows you to compare key financial metrics between MSA Safety Incorporated and Black Hills Corporation. 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
MSA vs. BKH - Profitability Comparison
MSA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, MSA Safety Incorporated reported a gross profit of 249.29M and revenue of 503.33M. Therefore, the gross margin over that period was 49.5%.
BKH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Black Hills Corporation reported a gross profit of 0.00 and revenue of 780.70M. Therefore, the gross margin over that period was 0.0%.
MSA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, MSA Safety Incorporated reported an operating income of 107.24M and revenue of 503.33M, resulting in an operating margin of 21.3%.
BKH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Black Hills Corporation reported an operating income of 201.90M and revenue of 780.70M, resulting in an operating margin of 25.9%.
MSA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, MSA Safety Incorporated reported a net income of 86.19M and revenue of 503.33M, resulting in a net margin of 17.1%.
BKH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Black Hills Corporation reported a net income of -2.10M and revenue of 780.70M, resulting in a net margin of -0.3%.
Frequently Asked Questions
MSA and BKH have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSA has higher volatility (10.41%) compared to BKH (6.15%). In terms of maximum drawdown, MSA dropped -70.32% vs BKH's -65.72%.
BKH currently has the higher Sharpe Ratio (1.26 vs 0.32), 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 MSA and BKH
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