NFG vs. KMI
NFG (National Fuel Gas Company) and KMI (Kinder Morgan, Inc.) are both stocks. Both are in the Energy sector — NFG in Oil & Gas Integrated, KMI in Oil & Gas Midstream. Over the past 10 years, NFG returned 6.68%/yr vs 11.24%/yr for KMI. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
NFG vs. KMI - Performance Comparison
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Returns By Period
In the year-to-date period, NFG achieves a -3.98% return, which is significantly lower than KMI's 16.54% return. Over the past 10 years, NFG has underperformed KMI with an annualized return of 6.68%, while KMI has yielded a comparatively higher 11.24% annualized return.
NFG
- 1D
- -0.65%
- 1M
- -7.88%
- YTD
- -3.98%
- 6M
- -4.65%
- 1Y
- -5.94%
- 3Y*
- 17.13%
- 5Y*
- 10.77%
- 10Y*
- 6.68%
KMI
- 1D
- 1.91%
- 1M
- -2.46%
- YTD
- 16.54%
- 6M
- 19.32%
- 1Y
- 14.28%
- 3Y*
- 29.77%
- 5Y*
- 17.16%
- 10Y*
- 11.24%
NFG vs. KMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFG National Fuel Gas Company | -3.98% | 35.31% | 25.38% | -17.71% | 1.87% | 60.66% | -7.58% | -5.94% | -3.74% | -0.20% |
KMI Kinder Morgan, Inc. | 16.54% | 4.74% | 64.42% | 4.10% | 21.23% | 23.75% | -30.77% | 44.43% | -11.18% | -10.56% |
Correlation
The correlation between NFG and KMI is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2011 | 0.50 |
The correlation between NFG and KMI shifts across timeframes, from 0.45 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NFG:
$7.17B
KMI:
$69.95B
NFG:
$7.46
KMI:
$1.53
NFG:
10.25
KMI:
20.55
NFG:
0.08
KMI:
1.25
NFG:
7.12
KMI:
3.99
NFG:
1.87
KMI:
2.23
NFG:
$988.24M
KMI:
$17.52B
NFG:
$576.67M
KMI:
$5.86B
NFG:
$1.41B
KMI:
$6.90B
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Return for Risk
NFG vs. KMI — Risk / Return Rank
NFG
KMI
NFG vs. KMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Fuel Gas Company (NFG) and Kinder Morgan, Inc. (KMI). 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.
| NFG | KMI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.30 | 0.71 | -1.01 |
Sortino ratioReturn per unit of downside risk | -0.30 | 1.06 | -1.36 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.14 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | -0.25 | 1.51 | -1.76 |
Martin ratioReturn relative to average drawdown | -0.57 | 3.07 | -3.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NFG | KMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 0.71 | -1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.76 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.41 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.17 | +0.21 |
Drawdowns
NFG vs. KMI - Drawdown Comparison
The maximum NFG drawdown since its inception was -55.49%, smaller than the maximum KMI drawdown of -72.70%. Use the drawdown chart below to compare losses from any high point for NFG and KMI.
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Drawdown Indicators
| NFG | KMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -72.70% | +17.21% |
Max Drawdown (1Y)Largest decline over 1 year | -20.36% | -11.11% | -9.25% |
Max Drawdown (3Y)Largest decline over 3 years | -20.36% | -18.40% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -35.74% | -20.31% | -15.43% |
Max Drawdown (10Y)Largest decline over 10 years | -44.28% | -55.13% | +10.85% |
Current DrawdownCurrent decline from peak | -20.36% | -8.36% | -12.00% |
Average DrawdownAverage peak-to-trough decline | -14.30% | -32.06% | +17.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.02% | 5.47% | +3.55% |
Volatility
NFG vs. KMI - Volatility Comparison
The current volatility for National Fuel Gas Company (NFG) is 5.62%, while Kinder Morgan, Inc. (KMI) has a volatility of 7.20%. This indicates that NFG experiences smaller price fluctuations and is considered to be less risky than KMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFG | KMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 7.20% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.17% | 15.03% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.88% | 20.43% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.23% | 22.58% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.04% | 27.75% | -3.71% |
Dividends
NFG vs. KMI - Dividend Comparison
NFG's dividend yield for the trailing twelve months is around 2.80%, less than KMI's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KMI Kinder Morgan, Inc. | 3.74% | 4.24% | 4.18% | 6.38% | 6.10% | 6.76% | 7.59% | 4.49% | 4.71% | 2.77% | 2.41% | 12.94% |
NFG National Fuel Gas Company | 2.80% | 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. KMI - Financials Comparison
This section allows you to compare key financial metrics between National Fuel Gas Company and Kinder Morgan, 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. KMI - 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%.
KMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported a gross profit of 0.00 and revenue of 4.83B. 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%.
KMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported an operating income of 1.44B and revenue of 4.83B, resulting in an operating margin of 29.9%.
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%.
KMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported a net income of 1.06B and revenue of 4.83B, resulting in a net margin of 22.0%.
Frequently Asked Questions
NFG and KMI have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMI has higher volatility (7.20%) compared to NFG (5.62%). In terms of maximum drawdown, NFG dropped -55.49% vs KMI's -72.70%.
KMI currently has the higher Sharpe Ratio (0.71 vs -0.30), 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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