NFG vs. CBSH
NFG (National Fuel Gas Company) and CBSH (Commerce Bancshares, Inc.) are both stocks. NFG operates in Oil & Gas Integrated (Energy), while CBSH operates in Banks - Regional (Financial Services). Over the past 10 years, NFG returned 6.84%/yr vs 8.88%/yr for CBSH. At a 0.29 correlation, their price movements are largely independent.
Performance
NFG vs. CBSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NFG achieves a -2.59% return, which is significantly lower than CBSH's 7.79% return. Over the past 10 years, NFG has underperformed CBSH with an annualized return of 6.84%, while CBSH has yielded a comparatively higher 8.88% annualized return.
NFG
- 1D
- 0.98%
- 1M
- -4.53%
- YTD
- -2.59%
- 6M
- -4.55%
- 1Y
- -5.57%
- 3Y*
- 18.18%
- 5Y*
- 10.46%
- 10Y*
- 6.84%
CBSH
- 1D
- 1.34%
- 1M
- 10.14%
- YTD
- 7.79%
- 6M
- 4.98%
- 1Y
- -1.44%
- 3Y*
- 10.43%
- 5Y*
- 0.72%
- 10Y*
- 8.88%
NFG vs. CBSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFG National Fuel Gas Company | -2.59% | 35.31% | 25.38% | -17.71% | 1.87% | 60.66% | -7.58% | -5.94% | -3.74% | -0.20% |
CBSH Commerce Bancshares, Inc. | 7.79% | -10.16% | 24.71% | -15.91% | 5.56% | 11.44% | 3.71% | 28.74% | 7.52% | 3.07% |
Correlation
The correlation between NFG and CBSH is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 1987 | 0.29 |
The correlation between NFG and CBSH shifts across timeframes, from 0.17 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NFG:
$7.27B
CBSH:
$8.14B
NFG:
$7.46
CBSH:
$4.20
NFG:
10.40
CBSH:
13.28
NFG:
0.08
CBSH:
5.34
NFG:
7.22
CBSH:
3.65
NFG:
1.90
CBSH:
1.89
NFG:
$988.24M
CBSH:
$2.10B
NFG:
$576.67M
CBSH:
$1.31B
NFG:
$1.41B
CBSH:
$614.94M
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
NFG vs. CBSH — Risk / Return Rank
NFG
CBSH
NFG vs. CBSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Fuel Gas Company (NFG) and Commerce Bancshares, Inc. (CBSH). 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.
| NFG | CBSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.99 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | -0.15 | -0.12 |
| Martin ratioReturn relative to average drawdown | -0.58 | -0.25 | -0.33 |
Loading charts...
Drawdowns
NFG vs. CBSH - Drawdown Comparison
The maximum NFG drawdown since its inception was -55.49%, which is greater than CBSH's maximum drawdown of -44.70%. Use the drawdown chart below to compare losses from any high point for NFG and CBSH.
Loading charts...
Drawdown Indicators
| NFG | CBSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -44.70% | -10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -20.45% | -23.44% | +2.99% |
Max Drawdown (3Y)Largest decline over 3 years | -20.45% | -27.63% | +7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -35.74% | -38.02% | +2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -44.28% | -38.23% | -6.05% |
Current DrawdownCurrent decline from peak | -19.20% | -14.49% | -4.71% |
Average DrawdownAverage peak-to-trough decline | -14.34% | -9.24% | -5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.67% | 14.54% | -4.87% |
Volatility
NFG vs. CBSH - Volatility Comparison
National Fuel Gas Company (NFG) has a higher volatility of 5.73% compared to Commerce Bancshares, Inc. (CBSH) at 4.54%. This indicates that NFG's price experiences larger fluctuations and is considered to be riskier than CBSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NFG | CBSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 4.54% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.17% | 13.52% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.83% | 21.00% | -1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.24% | 24.32% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.03% | 26.48% | -2.45% |
Dividends
NFG vs. CBSH - Dividend Comparison
NFG's dividend yield for the trailing twelve months is around 2.76%, more than CBSH's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBSH Commerce Bancshares, Inc. | 1.95% | 2.03% | 1.67% | 1.95% | 1.50% | 1.47% | 2.00% | 1.48% | 1.61% | 1.55% | 2.93% | 2.04% |
NFG National Fuel Gas Company | 2.76% | 2.65% | 3.36% | 3.91% | 2.97% | 2.83% | 4.30% | 3.72% | 3.30% | 3.00% | 2.84% | 3.67% |
Financials
NFG vs. CBSH - Financials Comparison
This section allows you to compare key financial metrics between National Fuel Gas Company and Commerce Bancshares, Inc.. 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
NFG vs. CBSH - Profitability Comparison
NFG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Fuel Gas Company reported a gross profit of -300.89M and revenue of -651.51M. Therefore, the gross margin over that period was 46.2%.
CBSH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Commerce Bancshares, Inc. reported a gross profit of 0.00 and revenue of 475.69M. Therefore, the gross margin over that period was 0.0%.
NFG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Fuel Gas Company reported an operating income of 347.14M and revenue of -651.51M, resulting in an operating margin of -53.3%.
CBSH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Commerce Bancshares, Inc. reported an operating income of 0.00 and revenue of 475.69M, resulting in an operating margin of 0.0%.
NFG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Fuel Gas Company reported a net income of 247.67M and revenue of -651.51M, resulting in a net margin of -38.0%.
CBSH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Commerce Bancshares, Inc. reported a net income of 141.62M and revenue of 475.69M, resulting in a net margin of 29.8%.
Frequently Asked Questions
NFG and CBSH have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFG has higher volatility (5.73%) compared to CBSH (4.54%). In terms of maximum drawdown, NFG dropped -55.49% vs CBSH's -44.70%.
CBSH currently has the higher Sharpe Ratio (-0.17 vs -0.29), 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 NFG and CBSH
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