NI vs. XEL
NI (NiSource Inc.) and XEL (Xcel Energy Inc.) are both stocks. Both are in the Utilities sector — NI in Utilities - Regulated Gas, XEL in Utilities - Regulated Electric. Over the past 10 years, NI returned 9.50%/yr vs 9.60%/yr for XEL. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
NI vs. XEL - Performance Comparison
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Returns By Period
In the year-to-date period, NI achieves a 14.20% return, which is significantly higher than XEL's 10.59% return. Both investments have delivered pretty close results over the past 10 years, with NI having a 9.50% annualized return and XEL not far ahead at 9.60%.
NI
- 1D
- 0.36%
- 1M
- -0.30%
- 6M
- 12.50%
- YTD
- 14.20%
- 1Y
- 22.13%
- 3Y*
- 22.84%
- 5Y*
- 17.12%
- 10Y*
- 9.50%
XEL
- 1D
- 0.52%
- 1M
- 2.36%
- 6M
- 10.39%
- YTD
- 10.59%
- 1Y
- 20.90%
- 3Y*
- 11.51%
- 5Y*
- 6.75%
- 10Y*
- 9.60%
NI vs. XEL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NI NiSource Inc. | 14.20% | 16.81% | 43.48% | 0.48% | 2.67% | 24.75% | -14.87% | 13.03% | 1.92% | 19.28% |
XEL Xcel Energy Inc. | 10.59% | 13.89% | 12.32% | -8.67% | 6.44% | 4.40% | 7.77% | 32.37% | 5.88% | 21.91% |
Correlation
The correlation between NI and XEL is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 1985 | 0.52 |
The correlation between NI and XEL shifts across timeframes, from 0.52 (all time) to 0.72 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NI:
$22.57B
XEL:
$50.24B
NI:
$2.02
XEL:
$3.48
NI:
23.31
XEL:
23.16
NI:
2.05
XEL:
5.97
NI:
3.29
XEL:
3.28
NI:
2.34
XEL:
2.12
NI:
$6.82B
XEL:
$14.78B
NI:
$4.28B
XEL:
$1.88B
NI:
$2.73B
XEL:
$6.26B
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Return for Risk
NI vs. XEL — Risk / Return Rank
NI
XEL
NI vs. XEL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NiSource Inc. (NI) and Xcel Energy Inc. (XEL). 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 | XEL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.83 | +0.61 |
| Martin ratioReturn relative to average drawdown | 6.92 | 4.63 | +2.29 |
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Drawdowns
NI vs. XEL - Drawdown Comparison
The maximum NI drawdown since its inception was -65.73%, smaller than the maximum XEL drawdown of -80.64%. Use the drawdown chart below to compare losses from any high point for NI and XEL.
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Drawdown Indicators
| NI | XEL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.73% | -80.64% | +14.91% |
Max Drawdown (1Y)Largest decline over 1 year | -9.14% | -11.50% | +2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.73% | -24.42% | +6.69% |
Max Drawdown (5Y)Largest decline over 5 years | -24.76% | -34.41% | +9.65% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | -34.41% | +3.46% |
Current DrawdownCurrent decline from peak | -4.10% | -2.65% | -1.45% |
Average DrawdownAverage peak-to-trough decline | -12.96% | -11.30% | -1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 4.53% | -1.32% |
Volatility
NI vs. XEL - Volatility Comparison
NiSource Inc. (NI) and Xcel Energy Inc. (XEL) have volatilities of 5.92% and 6.15%, 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
| NI | XEL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.92% | 6.15% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 14.92% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.26% | 19.54% | -1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.09% | 20.88% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.20% | 21.73% | +1.47% |
Dividends
NI vs. XEL - Dividend Comparison
NI's dividend yield for the trailing twelve months is around 2.46%, less than XEL's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NI NiSource Inc. | 2.46% | 2.68% | 2.88% | 3.77% | 3.43% | 3.19% | 3.66% | 2.87% | 3.08% | 2.73% | 2.89% | 145.67% |
XEL Xcel Energy Inc. | 2.89% | 3.83% | 2.43% | 3.36% | 2.78% | 2.70% | 2.58% | 2.55% | 3.09% | 2.99% | 3.34% | 3.56% |
Financials
NI vs. XEL - Financials Comparison
This section allows you to compare key financial metrics between NiSource Inc. and Xcel Energy 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
NI vs. XEL - Profitability Comparison
NI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
XEL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Xcel Energy Inc. reported a gross profit of 0.00 and revenue of 4.02B. Therefore, the gross margin over that period was 0.0%.
NI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, NiSource Inc. reported an operating income of 819.20M and revenue of 2.36B, resulting in an operating margin of 34.7%.
XEL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Xcel Energy Inc. reported an operating income of 754.00M and revenue of 4.02B, resulting in an operating margin of 18.8%.
NI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, NiSource Inc. reported a net income of 507.10M and revenue of 2.36B, resulting in a net margin of 21.5%.
XEL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Xcel Energy Inc. reported a net income of 556.00M and revenue of 4.02B, resulting in a net margin of 13.8%.
Frequently Asked Questions
NI and XEL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XEL has higher volatility (6.15%) compared to NI (5.92%). In terms of maximum drawdown, NI dropped -65.73% vs XEL's -80.64%.
NI currently has the higher Sharpe Ratio (1.22 vs 1.08), 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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