NL vs. AGO
NL (NL Industries, Inc.) and AGO (Assured Guaranty Ltd.) are both stocks. NL operates in Security & Protection Services (Industrials), while AGO operates in Insurance - Specialty (Financial Services). Over the past 10 years, NL returned 11.64%/yr vs 13.62%/yr for AGO. At a 0.28 correlation, their price movements are largely independent.
Performance
NL vs. AGO - Performance Comparison
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Returns By Period
In the year-to-date period, NL achieves a 13.40% return, which is significantly higher than AGO's -14.05% return. Over the past 10 years, NL has underperformed AGO with an annualized return of 11.64%, while AGO has yielded a comparatively higher 13.62% annualized return.
NL
- 1D
- -1.15%
- 1M
- -14.66%
- YTD
- 13.40%
- 6M
- 9.02%
- 1Y
- 0.04%
- 3Y*
- 9.49%
- 5Y*
- 3.20%
- 10Y*
- 11.64%
AGO
- 1D
- -0.94%
- 1M
- -1.58%
- YTD
- -14.05%
- 6M
- -16.20%
- 1Y
- -9.04%
- 3Y*
- 13.78%
- 5Y*
- 13.08%
- 10Y*
- 13.62%
NL vs. AGO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NL NL Industries, Inc. | 13.40% | -22.99% | 54.90% | -13.51% | -1.26% | 60.39% | 27.43% | 11.40% | -75.37% | 74.85% |
AGO Assured Guaranty Ltd. | -14.05% | 1.44% | 22.08% | 22.52% | 26.20% | 62.33% | -33.94% | 30.12% | 14.95% | -9.03% |
Correlation
The correlation between NL and AGO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 23, 2004 | 0.28 |
The correlation between NL and AGO shifts across timeframes, from 0.14 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NL:
-$0.70
AGO:
$11.20
NL:
1.85
AGO:
2.98
NL:
$158.58M
AGO:
$951.00M
NL:
$49.27M
AGO:
$663.00M
NL:
$3.36M
AGO:
$500.00M
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Return for Risk
NL vs. AGO — Risk / Return Rank
NL
AGO
NL vs. AGO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NL Industries, Inc. (NL) and Assured Guaranty Ltd. (AGO). 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.
| NL | AGO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.94 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | -0.46 | +0.46 |
| Martin ratioReturn relative to average drawdown | 0.00 | -1.08 | +1.09 |
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Drawdowns
NL vs. AGO - Drawdown Comparison
The maximum NL drawdown since its inception was -89.08%, roughly equal to the maximum AGO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for NL and AGO.
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Drawdown Indicators
| NL | AGO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -90.18% | +1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -33.22% | -19.84% | -13.38% |
Max Drawdown (3Y)Largest decline over 3 years | -38.90% | -21.83% | -17.07% |
Max Drawdown (5Y)Largest decline over 5 years | -52.49% | -30.23% | -22.26% |
Max Drawdown (10Y)Largest decline over 10 years | -84.70% | -61.48% | -23.22% |
Current DrawdownCurrent decline from peak | -47.74% | -17.80% | -29.94% |
Average DrawdownAverage peak-to-trough decline | -43.81% | -19.83% | -23.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.90% | 8.36% | +3.54% |
Volatility
NL vs. AGO - Volatility Comparison
NL Industries, Inc. (NL) has a higher volatility of 29.94% compared to Assured Guaranty Ltd. (AGO) at 5.32%. This indicates that NL's price experiences larger fluctuations and is considered to be riskier than AGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NL | AGO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.94% | 5.32% | +24.62% |
Volatility (6M)Calculated over the trailing 6-month period | 45.06% | 16.96% | +28.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.29% | 21.64% | +33.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.74% | 27.23% | +21.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.76% | 33.96% | +29.80% |
Dividends
NL vs. AGO - Dividend Comparison
NL's dividend yield for the trailing twelve months is around 9.83%, more than AGO's 1.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGO Assured Guaranty Ltd. | 1.88% | 1.51% | 1.38% | 1.50% | 1.61% | 1.75% | 2.54% | 1.47% | 1.67% | 1.68% | 1.38% | 1.82% |
NL NL Industries, Inc. | 9.83% | 10.42% | 9.65% | 4.99% | 9.25% | 3.24% | 3.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
NL vs. AGO - Financials Comparison
This section allows you to compare key financial metrics between NL Industries, Inc. and Assured Guaranty Ltd.. 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
NL vs. AGO - Profitability Comparison
NL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NL Industries, Inc. reported a gross profit of 13.25M and revenue of 40.57M. Therefore, the gross margin over that period was 32.7%.
AGO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Assured Guaranty Ltd. reported a gross profit of 0.00 and revenue of 261.00M. Therefore, the gross margin over that period was 0.0%.
NL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NL Industries, Inc. reported an operating income of 4.11M and revenue of 40.57M, resulting in an operating margin of 10.1%.
AGO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Assured Guaranty Ltd. reported an operating income of 0.00 and revenue of 261.00M, resulting in an operating margin of 0.0%.
NL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NL Industries, Inc. reported a net income of 4.34M and revenue of 40.57M, resulting in a net margin of 10.7%.
AGO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Assured Guaranty Ltd. reported a net income of 88.00M and revenue of 261.00M, resulting in a net margin of 33.7%.
Frequently Asked Questions
NL and AGO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NL has higher volatility (29.94%) compared to AGO (5.32%). In terms of maximum drawdown, NL dropped -89.08% vs AGO's -90.18%.
NL currently has the higher Sharpe Ratio (0.00 vs -0.42), 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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