NEPH vs. FSI

Last updated Jun 4, 2026

NEPH (Nephros, Inc.) and FSI (Flexible Solutions International Inc.) are both stocks. NEPH operates in Medical Instruments & Supplies (Healthcare), while FSI operates in Specialty Chemicals (Basic Materials). Over the past 10 years, NEPH returned 2.37%/yr vs 18.44%/yr for FSI. At a 0.06 correlation, their price movements are largely independent.

Performance

NEPH vs. FSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nephros, Inc. (NEPH) and Flexible Solutions International Inc. (FSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEPH achieves a -25.41% return, which is significantly lower than FSI's -4.68% return. Over the past 10 years, NEPH has underperformed FSI with an annualized return of 2.37%, while FSI has yielded a comparatively higher 18.44% annualized return.

NEPH

• 1D: -4.21%
• 1M: 18.57%
• YTD: -25.41%
• 6M: -32.59%
• 1Y: 11.31%
• 3Y*: 26.69%
• 5Y*: -16.18%
• 10Y*: 2.37%

FSI

• 1D: -1.38%
• 1M: 3.22%
• YTD: -4.68%
• 6M: -6.15%
• 1Y: 42.13%
• 3Y*: 33.02%
• 5Y*: 15.71%
• 10Y*: 18.44%

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

NEPH vs. FSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEPH Nephros, Inc.	-25.41%	231.97%	-57.51%	199.00%	-80.39%	-31.24%	-13.77%	93.96%	26.67%	22.92%
FSI Flexible Solutions International Inc.	-4.68%	90.62%	98.05%	-37.34%	-20.31%	56.22%	-3.11%	108.69%	-25.82%	36.87%

Correlation

The correlation between NEPH and FSI is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.06

Fundamentals

EPS NEPH : $0.07 FSI : $0.14
PE Ratio NEPH : 51.38 FSI : 44.55
PEG Ratio NEPH : 0.03 FSI : 2.62
PS Ratio NEPH : 2.08 FSI : 2.23
Total Revenue (TTM) NEPH : $19.12M FSI : $38.56M
Gross Profit (TTM) NEPH : $11.32M FSI : $12.53M
EBITDA (TTM) NEPH : $814.00K FSI : $6.56M

Return for Risk

NEPH vs. FSI — Risk / Return Rank

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

NEPH

NEPH Risk / Return Rank: 49
NEPH Sharpe Ratio Rank: 45
NEPH Sortino Ratio Rank: 55
NEPH Omega Ratio Rank: 52
NEPH Calmar Ratio Rank: 46
NEPH Martin Ratio Rank: 46

FSI

FSI Risk / Return Rank: 60
FSI Sharpe Ratio Rank: 62
FSI Sortino Ratio Rank: 64
FSI Omega Ratio Rank: 62
FSI Calmar Ratio Rank: 58
FSI Martin Ratio Rank: 53

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.

NEPH vs. FSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nephros, Inc. (NEPH) and Flexible Solutions International Inc. (FSI). 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.

	NEPH	FSI	Difference
Sharpe ratio Return per unit of total volatility	0.11	0.65	-0.53
Sortino ratio Return per unit of downside risk	1.05	1.47	-0.42
Omega ratio Gain probability vs. loss probability	1.12	1.18	-0.06
Calmar ratio Return relative to maximum drawdown	0.22	0.79	-0.57
Martin ratio Return relative to average drawdown	0.40	1.21	-0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEPH vs. FSI - Sharpe Ratio Comparison

The current NEPH Sharpe Ratio is 0.11, which is lower than the FSI Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of NEPH and FSI, 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

	NEPH	FSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	0.65	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.24	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	0.28	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.11	-0.04

Drawdowns

NEPH vs. FSI - Drawdown Comparison

The maximum NEPH drawdown since its inception was -91.98%, roughly equal to the maximum FSI drawdown of -88.76%. Use the drawdown chart below to compare losses from any high point for NEPH and FSI.

Drawdown Indicators

	NEPH	FSI	Difference
Max Drawdown Largest peak-to-trough decline	-91.98%	-88.76%	-3.22%
Max Drawdown (1Y) Largest decline over 1 year	-51.94%	-53.51%	+1.57%
Max Drawdown (3Y) Largest decline over 3 years	-65.06%	-54.18%	-10.88%
Max Drawdown (5Y) Largest decline over 5 years	-91.48%	-68.62%	-22.86%
Max Drawdown (10Y) Largest decline over 10 years	-91.98%	-75.74%	-16.24%
Current Drawdown Current decline from peak	-67.93%	-43.02%	-24.91%
Average Drawdown Average peak-to-trough decline	-48.42%	-49.46%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.10%	34.79%	-6.69%

Volatility

NEPH vs. FSI - Volatility Comparison

Nephros, Inc. (NEPH) has a higher volatility of 34.04% compared to Flexible Solutions International Inc. (FSI) at 10.80%. This indicates that NEPH's price experiences larger fluctuations and is considered to be riskier than FSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEPH	FSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.04%	10.80%	+23.24%
Volatility (6M) Calculated over the trailing 6-month period	59.51%	33.59%	+25.92%
Volatility (1Y) Calculated over the trailing 1-year period	102.82%	65.69%	+37.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.17%	66.05%	+11.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.34%	65.33%	+22.01%

Dividends

NEPH vs. FSI - Dividend Comparison

Neither NEPH nor FSI has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FSI Flexible Solutions International Inc.	0.00%	1.49%	2.77%	2.62%	0.00%	0.00%	0.00%	7.78%
NEPH Nephros, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both NEPH and FSI in my portfolio?

NEPH and FSI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEPH or FSI?

NEPH has higher volatility (34.04%) compared to FSI (10.80%). In terms of maximum drawdown, NEPH dropped -91.98% vs FSI's -88.76%.

Which has better risk-adjusted returns?

FSI currently has the higher Sharpe Ratio (0.65 vs 0.11), 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.