NMIH vs. MTG
NMIH (NMI Holdings, Inc.) and MTG (MGIC Investment Corporation) are both stocks. Both operate in the Insurance - Specialty industry within the Financial Services sector. Over the past 10 years, NMIH returned 21.77%/yr vs 18.11%/yr for MTG. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
NMIH vs. MTG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NMIH achieves a -5.83% return, which is significantly higher than MTG's -8.31% return. Over the past 10 years, NMIH has outperformed MTG with an annualized return of 21.77%, while MTG has yielded a comparatively lower 18.11% annualized return.
NMIH
- 1D
- 1.99%
- 1M
- 2.70%
- YTD
- -5.83%
- 6M
- -7.71%
- 1Y
- -8.29%
- 3Y*
- 15.61%
- 5Y*
- 10.74%
- 10Y*
- 21.77%
MTG
- 1D
- 0.72%
- 1M
- 1.88%
- YTD
- -8.31%
- 6M
- -9.73%
- 1Y
- -2.25%
- 3Y*
- 23.04%
- 5Y*
- 16.52%
- 10Y*
- 18.11%
NMIH vs. MTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMIH NMI Holdings, Inc. | -5.83% | 10.96% | 23.85% | 42.01% | -4.35% | -3.53% | -31.74% | 85.88% | 5.00% | 59.62% |
MTG MGIC Investment Corporation | -8.31% | 25.88% | 25.68% | 52.41% | -7.50% | 17.19% | -9.20% | 36.71% | -25.87% | 38.47% |
Correlation
The correlation between NMIH and MTG is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013 | 0.69 |
Over the past year, NMIH and MTG have become more correlated (0.90) than their long-term average of 0.69, meaning their price movements have been converging.
Fundamentals
NMIH:
$2.97B
MTG:
$5.78B
NMIH:
$1.27K
MTG:
$3.15
NMIH:
0.03
MTG:
8.42
NMIH:
0.00
MTG:
0.54
NMIH:
0.02
MTG:
5.02
NMIH:
0.00
MTG:
1.15
NMIH:
$184.01B
MTG:
$1.20B
NMIH:
$479.49M
MTG:
$864.52M
NMIH:
$395.48M
MTG:
$724.82M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NMIH vs. MTG — Risk / Return Rank
NMIH
MTG
NMIH vs. MTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NMI Holdings, Inc. (NMIH) and MGIC Investment Corporation (MTG). 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.
| NMIH | MTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.00 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | -0.14 | -0.32 |
| Martin ratioReturn relative to average drawdown | -0.73 | -0.27 | -0.45 |
Loading charts...
Drawdowns
NMIH vs. MTG - Drawdown Comparison
The maximum NMIH drawdown since its inception was -73.07%, smaller than the maximum MTG drawdown of -98.86%. Use the drawdown chart below to compare losses from any high point for NMIH and MTG.
Loading charts...
Drawdown Indicators
| NMIH | MTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -98.86% | +25.79% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -15.79% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -21.42% | -15.79% | -5.63% |
Max Drawdown (5Y)Largest decline over 5 years | -41.78% | -30.08% | -11.70% |
Max Drawdown (10Y)Largest decline over 10 years | -73.07% | -68.14% | -4.93% |
Current DrawdownCurrent decline from peak | -10.98% | -57.81% | +46.83% |
Average DrawdownAverage peak-to-trough decline | -26.75% | -52.50% | +25.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.39% | 8.20% | +3.19% |
Volatility
NMIH vs. MTG - Volatility Comparison
NMI Holdings, Inc. (NMIH) has a higher volatility of 5.43% compared to MGIC Investment Corporation (MTG) at 4.59%. This indicates that NMIH's price experiences larger fluctuations and is considered to be riskier than MTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NMIH | MTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 4.59% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 18.60% | 19.23% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.05% | 23.76% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.75% | 25.28% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.55% | 37.29% | +3.26% |
Dividends
NMIH vs. MTG - Dividend Comparison
NMIH has not paid dividends to shareholders, while MTG's dividend yield for the trailing twelve months is around 2.27%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
MTG MGIC Investment Corporation | 2.27% | 1.92% | 2.07% | 2.23% | 2.77% | 1.94% | 1.91% | 0.85% |
NMIH NMI Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
NMIH vs. MTG - Financials Comparison
This section allows you to compare key financial metrics between NMI Holdings, Inc. and MGIC Investment Corporation. 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
NMIH vs. MTG - Profitability Comparison
NMIH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NMI Holdings, Inc. reported a gross profit of 0.00 and revenue of 183.48B. Therefore, the gross margin over that period was 0.0%.
MTG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MGIC Investment Corporation reported a gross profit of 0.00 and revenue of 297.08M. Therefore, the gross margin over that period was 0.0%.
NMIH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NMI Holdings, Inc. reported an operating income of 0.00 and revenue of 183.48B, resulting in an operating margin of 0.0%.
MTG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MGIC Investment Corporation reported an operating income of 0.00 and revenue of 297.08M, resulting in an operating margin of 0.0%.
NMIH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NMI Holdings, Inc. reported a net income of 99.33B and revenue of 183.48B, resulting in a net margin of 54.1%.
MTG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MGIC Investment Corporation reported a net income of 165.30M and revenue of 297.08M, resulting in a net margin of 55.6%.
Frequently Asked Questions
NMIH and MTG have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMIH has higher volatility (5.43%) compared to MTG (4.59%). In terms of maximum drawdown, NMIH dropped -73.07% vs MTG's -98.86%.
MTG currently has the higher Sharpe Ratio (-0.10 vs -0.35), 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.
Find the right allocation for NMIH and MTG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer