NL vs. ARLP
NL (NL Industries, Inc.) and ARLP (Alliance Resource Partners, L.P.) are both stocks. NL operates in Security & Protection Services (Industrials), while ARLP operates in Thermal Coal (Energy). Over the past 10 years, NL returned 11.64%/yr vs 14.20%/yr for ARLP. At a 0.19 correlation, their price movements are largely independent.
Performance
NL vs. ARLP - 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 ARLP's 6.28% return. Over the past 10 years, NL has underperformed ARLP with an annualized return of 11.64%, while ARLP has yielded a comparatively higher 14.20% 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%
ARLP
- 1D
- -3.21%
- 1M
- -6.74%
- YTD
- 6.28%
- 6M
- 5.37%
- 1Y
- -0.97%
- 3Y*
- 22.50%
- 5Y*
- 42.43%
- 10Y*
- 14.20%
NL vs. ARLP - 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% |
ARLP Alliance Resource Partners, L.P. | 6.28% | -2.45% | 39.91% | 18.83% | 73.34% | 195.75% | -56.80% | -28.90% | -1.90% | -4.04% |
Correlation
The correlation between NL and ARLP is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 1999 | 0.19 |
The correlation between NL and ARLP shifts across timeframes, from 0.06 (1 year) to 0.20 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
NL:
$293.18M
ARLP:
$3.02B
NL:
-$0.70
ARLP:
$72.64
NL:
1.85
ARLP:
0.01
NL:
0.82
ARLP:
1.47
NL:
$158.58M
ARLP:
$517.67B
NL:
$49.27M
ARLP:
$353.56M
NL:
$3.36M
ARLP:
$82.91B
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Return for Risk
NL vs. ARLP — Risk / Return Rank
NL
ARLP
NL vs. ARLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NL Industries, Inc. (NL) and Alliance Resource Partners, L.P. (ARLP). 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 | ARLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.01 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | -0.06 | +0.06 |
| Martin ratioReturn relative to average drawdown | 0.00 | -0.10 | +0.11 |
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Drawdowns
NL vs. ARLP - Drawdown Comparison
The maximum NL drawdown since its inception was -89.08%, roughly equal to the maximum ARLP drawdown of -90.52%. Use the drawdown chart below to compare losses from any high point for NL and ARLP.
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Drawdown Indicators
| NL | ARLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -90.52% | +1.44% |
Max Drawdown (1Y)Largest decline over 1 year | -33.22% | -17.62% | -15.60% |
Max Drawdown (3Y)Largest decline over 3 years | -38.90% | -20.83% | -18.07% |
Max Drawdown (5Y)Largest decline over 5 years | -52.49% | -29.13% | -23.36% |
Max Drawdown (10Y)Largest decline over 10 years | -84.70% | -85.26% | +0.56% |
Current DrawdownCurrent decline from peak | -47.74% | -16.92% | -30.82% |
Average DrawdownAverage peak-to-trough decline | -43.81% | -24.31% | -19.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.90% | 9.61% | +2.29% |
Volatility
NL vs. ARLP - Volatility Comparison
NL Industries, Inc. (NL) has a higher volatility of 29.94% compared to Alliance Resource Partners, L.P. (ARLP) at 5.90%. This indicates that NL's price experiences larger fluctuations and is considered to be riskier than ARLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NL | ARLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.94% | 5.90% | +24.04% |
Volatility (6M)Calculated over the trailing 6-month period | 45.06% | 16.10% | +28.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.29% | 23.04% | +32.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.74% | 33.44% | +15.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.76% | 50.20% | +13.56% |
Dividends
NL vs. ARLP - Dividend Comparison
NL's dividend yield for the trailing twelve months is around 9.83%, less than ARLP's 10.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARLP Alliance Resource Partners, L.P. | 10.20% | 11.19% | 10.65% | 13.22% | 7.38% | 3.16% | 8.93% | 19.82% | 11.94% | 9.54% | 8.85% | 19.74% |
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. ARLP - Financials Comparison
This section allows you to compare key financial metrics between NL Industries, Inc. and Alliance Resource Partners, L.P.. 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. ARLP - 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%.
ARLP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alliance Resource Partners, L.P. reported a gross profit of 0.00 and revenue of 516.02B. 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%.
ARLP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alliance Resource Partners, L.P. reported an operating income of 21.86B and revenue of 516.02B, resulting in an operating margin of 4.2%.
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%.
ARLP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alliance Resource Partners, L.P. reported a net income of 9.09B and revenue of 516.02B, resulting in a net margin of 1.8%.
Frequently Asked Questions
NL and ARLP have a correlation of 0.06, 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 ARLP (5.90%). In terms of maximum drawdown, NL dropped -89.08% vs ARLP's -90.52%.
NL currently has the higher Sharpe Ratio (0.00 vs -0.04), 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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