NWE vs. DGICA
NWE (NorthWestern Corporation) and DGICA (Donegal Group Inc.) are both stocks. NWE operates in Utilities - Diversified (Utilities), while DGICA operates in Insurance - Property & Casualty (Financial Services). Over the past 10 years, NWE returned 5.81%/yr vs 4.71%/yr for DGICA. At a 0.34 correlation, their price movements are largely independent.
Performance
NWE vs. DGICA - Performance Comparison
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Returns By Period
In the year-to-date period, NWE achieves a 8.24% return, which is significantly higher than DGICA's -15.44% return. Over the past 10 years, NWE has outperformed DGICA with an annualized return of 5.81%, while DGICA has yielded a comparatively lower 4.71% annualized return.
NWE
- 1D
- -0.92%
- 1M
- -3.85%
- YTD
- 8.24%
- 6M
- 5.73%
- 1Y
- 34.06%
- 3Y*
- 11.42%
- 5Y*
- 6.43%
- 10Y*
- 5.81%
DGICA
- 1D
- -2.59%
- 1M
- 1.35%
- YTD
- -15.44%
- 6M
- -15.23%
- 1Y
- -13.52%
- 3Y*
- 8.13%
- 5Y*
- 6.16%
- 10Y*
- 4.71%
NWE vs. DGICA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NWE NorthWestern Corporation | 8.24% | 26.40% | 10.51% | -10.12% | 8.49% | 2.10% | -15.15% | 24.50% | 3.52% | 8.74% |
DGICA Donegal Group Inc. | -15.44% | 34.64% | 15.93% | 3.15% | 4.02% | 6.02% | -1.12% | 13.19% | -17.96% | 2.46% |
Correlation
The correlation between NWE and DGICA is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007 | 0.34 |
Fundamentals
NWE:
$4.25B
DGICA:
$528.09M
NWE:
$2.72
DGICA:
$2.00
NWE:
25.42
DGICA:
8.26
NWE:
2.59
DGICA:
0.56
NWE:
1.46
DGICA:
0.81
NWE:
$1.64B
DGICA:
$969.21M
NWE:
$1.15B
DGICA:
$187.36M
NWE:
$510.42M
DGICA:
$83.63M
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Return for Risk
NWE vs. DGICA — Risk / Return Rank
NWE
DGICA
NWE vs. DGICA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NorthWestern Corporation (NWE) and Donegal Group Inc. (DGICA). 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.
| NWE | DGICA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.92 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | -0.66 | +4.06 |
| Martin ratioReturn relative to average drawdown | 11.34 | -1.25 | +12.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NWE | DGICA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | -0.57 | +2.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.27 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.19 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.23 | +0.17 |
Drawdowns
NWE vs. DGICA - Drawdown Comparison
The maximum NWE drawdown since its inception was -39.34%, smaller than the maximum DGICA drawdown of -43.36%. Use the drawdown chart below to compare losses from any high point for NWE and DGICA.
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Drawdown Indicators
| NWE | DGICA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.34% | -43.36% | +4.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.09% | -20.43% | +10.34% |
Max Drawdown (3Y)Largest decline over 3 years | -19.73% | -20.43% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -21.97% | -22.31% | +0.34% |
Max Drawdown (10Y)Largest decline over 10 years | -39.34% | -30.23% | -9.11% |
Current DrawdownCurrent decline from peak | -5.73% | -19.36% | +13.63% |
Average DrawdownAverage peak-to-trough decline | -10.77% | -14.20% | +3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 10.82% | -7.68% |
Volatility
NWE vs. DGICA - Volatility Comparison
NorthWestern Corporation (NWE) has a higher volatility of 6.68% compared to Donegal Group Inc. (DGICA) at 6.00%. This indicates that NWE's price experiences larger fluctuations and is considered to be riskier than DGICA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWE | DGICA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 6.00% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 16.06% | 16.43% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.39% | 23.82% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 23.29% | -2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.72% | 25.41% | -0.69% |
Dividends
NWE vs. DGICA - Dividend Comparison
NWE's dividend yield for the trailing twelve months is around 3.83%, less than DGICA's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGICA Donegal Group Inc. | 4.47% | 3.60% | 4.44% | 4.82% | 4.61% | 4.41% | 4.23% | 3.90% | 4.16% | 3.22% | 3.13% | 3.81% |
NWE NorthWestern Corporation | 3.83% | 4.09% | 4.86% | 5.03% | 4.25% | 4.34% | 4.12% | 3.21% | 3.70% | 3.52% | 3.52% | 3.54% |
Financials
NWE vs. DGICA - Financials Comparison
This section allows you to compare key financial metrics between NorthWestern Corporation and Donegal Group 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
NWE vs. DGICA - Profitability Comparison
NWE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NorthWestern Corporation reported a gross profit of 423.03M and revenue of 497.57M. Therefore, the gross margin over that period was 85.0%.
DGICA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Donegal Group Inc. reported a gross profit of 0.00 and revenue of 236.00M. Therefore, the gross margin over that period was 0.0%.
NWE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NorthWestern Corporation reported an operating income of 114.11M and revenue of 497.57M, resulting in an operating margin of 22.9%.
DGICA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Donegal Group Inc. reported an operating income of 14.12M and revenue of 236.00M, resulting in an operating margin of 6.0%.
NWE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NorthWestern Corporation reported a net income of 63.46M and revenue of 497.57M, resulting in a net margin of 12.8%.
DGICA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Donegal Group Inc. reported a net income of 11.51M and revenue of 236.00M, resulting in a net margin of 4.9%.
Frequently Asked Questions
NWE and DGICA have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NWE has higher volatility (6.68%) compared to DGICA (6.00%). In terms of maximum drawdown, NWE dropped -39.34% vs DGICA's -43.36%.
NWE currently has the higher Sharpe Ratio (1.60 vs -0.57), 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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