NI vs. ET
NI (NiSource Inc.) and ET (Energy Transfer LP) are both stocks. NI operates in Utilities - Regulated Gas (Utilities), while ET operates in Oil & Gas Midstream (Energy). Over the past 10 years, NI returned 9.97%/yr vs 12.06%/yr for ET. At a 0.24 correlation, their price movements are largely independent.
Performance
NI vs. ET - Performance Comparison
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Returns By Period
In the year-to-date period, NI achieves a 15.56% return, which is significantly lower than ET's 18.71% return. Over the past 10 years, NI has underperformed ET with an annualized return of 9.97%, while ET has yielded a comparatively higher 12.06% annualized return.
NI
- 1D
- 0.78%
- 1M
- -0.46%
- YTD
- 15.56%
- 6M
- 16.42%
- 1Y
- 23.74%
- 3Y*
- 25.18%
- 5Y*
- 17.70%
- 10Y*
- 9.97%
ET
- 1D
- 0.75%
- 1M
- -5.88%
- YTD
- 18.71%
- 6M
- 20.10%
- 1Y
- 14.01%
- 3Y*
- 24.21%
- 5Y*
- 20.97%
- 10Y*
- 12.06%
NI vs. ET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NI NiSource Inc. | 15.56% | 16.81% | 43.48% | 0.48% | 2.67% | 24.75% | -14.87% | 13.03% | 1.92% | 19.28% |
ET Energy Transfer LP | 18.71% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
Correlation
The correlation between NI and ET is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2006 | 0.24 |
The correlation between NI and ET shifts across timeframes, from 0.08 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NI:
$22.91B
ET:
$65.31B
NI:
$2.02
ET:
$1.36
NI:
23.54
ET:
13.88
NI:
3.32
ET:
0.75
NI:
2.37
ET:
1.31
NI:
$6.82B
ET:
$89.38B
NI:
$4.28B
ET:
$20.48B
NI:
$2.73B
ET:
$13.02B
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Return for Risk
NI vs. ET — Risk / Return Rank
NI
ET
NI vs. ET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NiSource Inc. (NI) and Energy Transfer LP (ET). 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.
| NI | ET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.16 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.60 | +1.01 |
| Martin ratioReturn relative to average drawdown | 7.55 | 3.54 | +4.00 |
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Drawdowns
NI vs. ET - Drawdown Comparison
The maximum NI drawdown since its inception was -65.73%, smaller than the maximum ET drawdown of -87.81%. Use the drawdown chart below to compare losses from any high point for NI and ET.
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Drawdown Indicators
| NI | ET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.73% | -87.81% | +22.08% |
Max Drawdown (1Y)Largest decline over 1 year | -9.14% | -8.79% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.73% | -24.56% | +6.83% |
Max Drawdown (5Y)Largest decline over 5 years | -24.76% | -24.56% | -0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | -72.82% | +41.87% |
Current DrawdownCurrent decline from peak | -1.35% | -7.36% | +6.01% |
Average DrawdownAverage peak-to-trough decline | -12.97% | -25.71% | +12.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 3.96% | -0.81% |
Volatility
NI vs. ET - Volatility Comparison
NiSource Inc. (NI) has a higher volatility of 5.69% compared to Energy Transfer LP (ET) at 4.68%. This indicates that NI's price experiences larger fluctuations and is considered to be riskier than ET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NI | ET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 4.68% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 12.32% | 12.05% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.07% | 16.09% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.01% | 24.65% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.18% | 34.52% | -11.34% |
Dividends
NI vs. ET - Dividend Comparison
NI's dividend yield for the trailing twelve months is around 2.44%, less than ET's 7.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 7.07% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
NI NiSource Inc. | 2.44% | 2.68% | 2.88% | 3.77% | 3.43% | 3.19% | 3.66% | 2.87% | 3.08% | 2.73% | 2.89% | 145.67% |
Financials
NI vs. ET - Financials Comparison
This section allows you to compare key financial metrics between NiSource Inc. and Energy Transfer LP. 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
NI vs. ET - Profitability Comparison
NI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NiSource Inc. reported a gross profit of 1.87B and revenue of 2.36B. Therefore, the gross margin over that period was 79.3%.
ET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported a gross profit of 6.62B and revenue of 27.77B. Therefore, the gross margin over that period was 23.9%.
NI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NiSource Inc. reported an operating income of 819.20M and revenue of 2.36B, resulting in an operating margin of 34.7%.
ET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported an operating income of 2.98B and revenue of 27.77B, resulting in an operating margin of 10.7%.
NI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NiSource Inc. reported a net income of 507.10M and revenue of 2.36B, resulting in a net margin of 21.5%.
ET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported a net income of 1.25B and revenue of 27.77B, resulting in a net margin of 4.5%.
Frequently Asked Questions
NI and ET have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NI has higher volatility (5.69%) compared to ET (4.68%). In terms of maximum drawdown, NI dropped -65.73% vs ET's -87.81%.
NI currently has the higher Sharpe Ratio (1.32 vs 0.88), 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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