NFG vs. MSA
NFG (National Fuel Gas Company) and MSA (MSA Safety Incorporated) are both stocks. NFG operates in Oil & Gas Integrated (Energy), while MSA operates in Security & Protection Services (Industrials). Over the past 10 years, NFG returned 6.68%/yr vs 13.97%/yr for MSA. At a 0.27 correlation, their price movements are largely independent.
Performance
NFG vs. MSA - 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 MSA's 2.54% return. Over the past 10 years, NFG has underperformed MSA with an annualized return of 6.68%, while MSA has yielded a comparatively higher 13.97% 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%
MSA
- 1D
- 0.09%
- 1M
- -1.21%
- YTD
- 2.54%
- 6M
- -0.08%
- 1Y
- 2.12%
- 3Y*
- 5.79%
- 5Y*
- 0.55%
- 10Y*
- 13.97%
NFG vs. MSA - 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% |
MSA MSA Safety Incorporated | 2.54% | -2.14% | -0.71% | 18.52% | -3.15% | 2.14% | 19.79% | 36.10% | 23.61% | 13.97% |
Correlation
The correlation between NFG and MSA is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990 | 0.27 |
Over the past year, the correlation between NFG and MSA has dropped to 0.04 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
Fundamentals
NFG:
$7.46
MSA:
$9.85
NFG:
10.25
MSA:
16.57
NFG:
0.08
MSA:
0.06
NFG:
7.12
MSA:
2.51
NFG:
$988.24M
MSA:
$1.92B
NFG:
$576.67M
MSA:
$897.30M
NFG:
$1.41B
MSA:
$465.55M
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Return for Risk
NFG vs. MSA — Risk / Return Rank
NFG
MSA
NFG vs. MSA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Fuel Gas Company (NFG) and MSA Safety Incorporated (MSA). 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 | MSA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.30 | 0.09 | -0.39 |
Sortino ratioReturn per unit of downside risk | -0.30 | 0.30 | -0.59 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.04 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | -0.25 | 0.07 | -0.32 |
Martin ratioReturn relative to average drawdown | -0.57 | 0.15 | -0.72 |
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 | MSA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 0.09 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.02 | +0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.49 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.34 | +0.05 |
Drawdowns
NFG vs. MSA - Drawdown Comparison
The maximum NFG drawdown since its inception was -55.49%, smaller than the maximum MSA drawdown of -70.32%. Use the drawdown chart below to compare losses from any high point for NFG and MSA.
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Drawdown Indicators
| NFG | MSA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -70.32% | +14.83% |
Max Drawdown (1Y)Largest decline over 1 year | -20.36% | -20.67% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -20.36% | -34.28% | +13.92% |
Max Drawdown (5Y)Largest decline over 5 years | -35.74% | -35.09% | -0.65% |
Max Drawdown (10Y)Largest decline over 10 years | -44.28% | -38.39% | -5.89% |
Current DrawdownCurrent decline from peak | -20.36% | -19.14% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -14.30% | -17.44% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.02% | 9.46% | -0.44% |
Volatility
NFG vs. MSA - Volatility Comparison
The current volatility for National Fuel Gas Company (NFG) is 5.62%, while MSA Safety Incorporated (MSA) has a volatility of 7.45%. This indicates that NFG experiences smaller price fluctuations and is considered to be less risky than MSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFG | MSA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 7.45% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 14.17% | 17.54% | -3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.88% | 23.85% | -3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.23% | 24.70% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.04% | 28.77% | -4.73% |
Dividends
NFG vs. MSA - Dividend Comparison
NFG's dividend yield for the trailing twelve months is around 2.80%, more than MSA's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSA MSA Safety Incorporated | 1.30% | 1.31% | 1.21% | 1.11% | 1.26% | 1.16% | 1.14% | 1.30% | 1.58% | 1.78% | 1.89% | 2.92% |
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. MSA - Financials Comparison
This section allows you to compare key financial metrics between National Fuel Gas Company and MSA Safety Incorporated. 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. MSA - 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%.
MSA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MSA Safety Incorporated reported a gross profit of 219.58M and revenue of 463.63M. Therefore, the gross margin over that period was 47.4%.
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%.
MSA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MSA Safety Incorporated reported an operating income of 93.01M and revenue of 463.63M, resulting in an operating margin of 20.1%.
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%.
MSA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MSA Safety Incorporated reported a net income of 71.27M and revenue of 463.63M, resulting in a net margin of 15.4%.
Frequently Asked Questions
NFG and MSA have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSA has higher volatility (7.45%) compared to NFG (5.62%). In terms of maximum drawdown, NFG dropped -55.49% vs MSA's -70.32%.
MSA currently has the higher Sharpe Ratio (0.09 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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