NFG vs. CWT
NFG (National Fuel Gas Company) and CWT (California Water Service Group) are both stocks. NFG operates in Oil & Gas Integrated (Energy), while CWT operates in Utilities - Regulated Water (Utilities). Over the past 10 years, NFG returned 7.52%/yr vs 6.29%/yr for CWT. Their 0.30 correlation means their historical movements had little consistent relationship.
Performance
NFG vs. CWT - Performance Comparison
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Returns By Period
In the year-to-date period, NFG achieves a 4.13% return, which is significantly lower than CWT's 17.43% return. Over the past 10 years, NFG has outperformed CWT with an annualized return of 7.52%, while CWT has yielded a comparatively lower 6.29% annualized return.
NFG
- 1D
- -0.19%
- 1M
- 6.21%
- 6M
- -0.46%
- YTD
- 4.13%
- 1Y
- -2.75%
- 3Y*
- 19.99%
- 5Y*
- 13.33%
- 10Y*
- 7.52%
- ALL TIME*
- 9.48%
CWT
- 1D
- -0.77%
- 1M
- 2.18%
- 6M
- 13.83%
- YTD
- 17.43%
- 1Y
- 13.36%
- 3Y*
- 1.23%
- 5Y*
- -2.29%
- 10Y*
- 6.29%
- ALL TIME*
- 9.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.21M | $23.35M | $24.82M | |
| $58.89M | $56.86M | $61.39M |
NFG vs. CWT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFG National Fuel Gas Company | 4.13% | 35.31% | 25.38% | -17.71% | 1.87% | 60.66% | -7.58% | -5.94% | -3.74% | -0.20% |
CWT California Water Service Group | 17.43% | -1.81% | -10.64% | -12.83% | -14.13% | 35.05% | 6.68% | 9.85% | 7.06% | 36.39% |
Correlation
The correlation between NFG and CWT is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 1990 | 0.30 |
Fundamentals
NFG:
$7.82B
CWT:
$3.00B
NFG:
$7.24
CWT:
$2.23
NFG:
11.38
CWT:
22.50
NFG:
0.08
CWT:
0.54
NFG:
3.07
CWT:
2.84
NFG:
1.98
CWT:
1.66
NFG:
$2.50B
CWT:
$1.05B
NFG:
$1.23B
CWT:
$196.22M
NFG:
$1.52B
CWT:
$346.36M
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Return for Risk
NFG vs. CWT — Risk / Return Rank
NFG
CWT
NFG vs. CWT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Fuel Gas Company (NFG) and California Water Service Group (CWT). 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 | CWT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.11 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.92 | -1.05 |
| Martin ratioReturn relative to average drawdown | -0.24 | 1.74 | -1.98 |
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Drawdowns
NFG vs. CWT - Drawdown Comparison
The maximum NFG drawdown since its inception was -55.49%, which is greater than CWT's maximum drawdown of -38.21%. Use the drawdown chart below to compare losses from any high point for NFG and CWT.
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Drawdown Indicators
| NFG | CWT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -38.21% | -17.28% |
Max Drawdown (1Y)Largest decline over 1 year | -20.93% | -14.59% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -20.93% | -24.13% | +3.20% |
Max Drawdown (5Y)Largest decline over 5 years | -35.74% | -38.21% | +2.47% |
Max Drawdown (10Y)Largest decline over 10 years | -44.28% | -38.21% | -6.07% |
Current DrawdownCurrent decline from peak | -13.63% | -22.88% | +9.25% |
Average DrawdownAverage peak-to-trough decline | -14.35% | -11.75% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.43% | 7.70% | +3.73% |
Volatility
NFG vs. CWT - Volatility Comparison
National Fuel Gas Company (NFG) and California Water Service Group (CWT) have volatilities of 6.54% and 6.85%, 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.
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Volatility by Period
| NFG | CWT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 6.85% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 14.53% | 19.17% | -4.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.62% | 24.72% | -5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.24% | 24.33% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.05% | 27.72% | -3.67% |
Dividends
NFG vs. CWT - Dividend Comparison
NFG's dividend yield for the trailing twelve months is around 2.62%, more than CWT's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWT California Water Service Group | 2.53% | 2.86% | 2.47% | 2.01% | 1.65% | 1.28% | 1.57% | 1.53% | 1.57% | 1.59% | 2.04% | 2.88% |
NFG National Fuel Gas Company | 2.62% | 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. CWT - Financials Comparison
This section allows you to compare key financial metrics between National Fuel Gas Company and California Water Service Group. 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. CWT - Profitability Comparison
NFG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, National Fuel Gas Company reported a gross profit of 231.42M and revenue of 537.50M. Therefore, the gross margin over that period was 43.1%.
CWT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, California Water Service Group reported a gross profit of -63.68M and revenue of 308.60M. Therefore, the gross margin over that period was -20.6%.
NFG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, National Fuel Gas Company reported an operating income of 208.94M and revenue of 537.50M, resulting in an operating margin of 38.9%.
CWT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, California Water Service Group reported an operating income of 70.83M and revenue of 308.60M, resulting in an operating margin of 23.0%.
NFG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, National Fuel Gas Company reported a net income of 138.62M and revenue of 537.50M, resulting in a net margin of 25.8%.
CWT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, California Water Service Group reported a net income of 56.47M and revenue of 308.60M, resulting in a net margin of 18.3%.
Frequently Asked Questions
NFG and CWT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CWT has higher volatility (6.85%) compared to NFG (6.54%). In terms of maximum drawdown, NFG dropped -55.49% vs CWT's -38.21%.
CWT currently has the higher Sharpe Ratio (0.54 vs -0.14), 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.
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