NGS vs. UPRO

Last updated Jun 4, 2026

NGS (Natural Gas Services Group, Inc.) is a stock, while UPRO (ProShares UltraPro S&P 500) is Leveraged Equities fund tracking the S&P 500. Over the past 10 years, NGS returned 7.10%/yr vs 30.09%/yr for UPRO. At a 0.37 correlation, their price movements are largely independent.

Performance

NGS vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Natural Gas Services Group, Inc. (NGS) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NGS achieves a 21.19% return, which is significantly lower than UPRO's 27.90% return. Over the past 10 years, NGS has underperformed UPRO with an annualized return of 7.10%, while UPRO has yielded a comparatively higher 30.09% annualized return.

NGS

• 1D: -0.95%
• 1M: -0.34%
• YTD: 21.19%
• 6M: 28.53%
• 1Y: 65.98%
• 3Y*: 59.23%
• 5Y*: 30.04%
• 10Y*: 7.10%

UPRO

• 1D: -2.09%
• 1M: 14.64%
• YTD: 27.90%
• 6M: 26.67%
• 1Y: 80.84%
• 3Y*: 52.58%
• 5Y*: 23.13%
• 10Y*: 30.09%

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

NGS vs. UPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NGS Natural Gas Services Group, Inc.	21.19%	26.53%	66.67%	40.31%	9.46%	10.44%	-22.68%	-25.43%	-37.25%	-18.51%
UPRO ProShares UltraPro S&P 500	27.90%	31.88%	63.57%	68.53%	-56.84%	98.64%	10.09%	102.30%	-25.11%	71.37%

Correlation

The correlation between NGS and UPRO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 26, 2009	0.37

The correlation between NGS and UPRO shifts across timeframes, from 0.21 (5 years) to 0.37 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NGS vs. UPRO — Risk / Return Rank

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

NGS

NGS Risk / Return Rank: 86
NGS Sharpe Ratio Rank: 88
NGS Sortino Ratio Rank: 82
NGS Omega Ratio Rank: 82
NGS Calmar Ratio Rank: 89
NGS Martin Ratio Rank: 91

UPRO

UPRO Risk / Return Rank: 62
UPRO Sharpe Ratio Rank: 68
UPRO Sortino Ratio Rank: 57
UPRO Omega Ratio Rank: 58
UPRO Calmar Ratio Rank: 60
UPRO Martin Ratio Rank: 68

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.

NGS vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Natural Gas Services Group, Inc. (NGS) and ProShares UltraPro S&P 500 (UPRO). 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.

	NGS	UPRO	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.30	-0.27
Sortino ratio: Return per unit of downside risk	2.51	2.76	-0.25
Omega ratio: Gain probability vs. loss probability	1.33	1.36	-0.03
Calmar ratio: Return relative to maximum drawdown	4.42	3.03	+1.39
Martin ratio: Return relative to average drawdown	13.10	12.80	+0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NGS vs. UPRO - Sharpe Ratio Comparison

The current NGS Sharpe Ratio is 2.03, which is comparable to the UPRO Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of NGS and UPRO, 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

	NGS	UPRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.30	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.46	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.56	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.65	-0.45

Drawdowns

NGS vs. UPRO - Drawdown Comparison

The maximum NGS drawdown since its inception was -89.59%, which is greater than UPRO's maximum drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for NGS and UPRO.

Drawdown Indicators

	NGS	UPRO	Difference
Max Drawdown Largest peak-to-trough decline	-89.59%	-76.82%	-12.77%
Max Drawdown (1Y) Largest decline over 1 year	-15.00%	-26.78%	+11.78%
Max Drawdown (3Y) Largest decline over 3 years	-40.89%	-48.87%	+7.98%
Max Drawdown (5Y) Largest decline over 5 years	-40.89%	-63.94%	+23.05%
Max Drawdown (10Y) Largest decline over 10 years	-87.91%	-76.82%	-11.09%
Current Drawdown Current decline from peak	-7.02%	-2.09%	-4.93%
Average Drawdown Average peak-to-trough decline	-47.49%	-14.42%	-33.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	6.33%	-1.28%

Volatility

NGS vs. UPRO - Volatility Comparison

Natural Gas Services Group, Inc. (NGS) has a higher volatility of 11.87% compared to ProShares UltraPro S&P 500 (UPRO) at 8.45%. This indicates that NGS's price experiences larger fluctuations and is considered to be riskier than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NGS	UPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.87%	8.45%	+3.42%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	26.60%	-4.34%
Volatility (1Y) Calculated over the trailing 1-year period	32.76%	35.35%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.03%	50.32%	-6.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.25%	53.74%	-7.49%

Dividends

NGS vs. UPRO - Dividend Comparison

NGS's dividend yield for the trailing twelve months is around 1.16%, more than UPRO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGS Natural Gas Services Group, Inc.	1.16%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UPRO ProShares UltraPro S&P 500	0.68%	0.84%	0.93%	0.74%	0.52%	0.06%	0.11%	0.41%	0.63%	0.00%	0.12%	0.34%

Frequently Asked Questions

Can I hold both NGS and UPRO in my portfolio?

NGS and UPRO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NGS or UPRO?

NGS has higher volatility (11.87%) compared to UPRO (8.45%). In terms of maximum drawdown, NGS dropped -89.59% vs UPRO's -76.82%.

Which has better risk-adjusted returns?

UPRO currently has the higher Sharpe Ratio (2.30 vs 2.03), 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.