NWE vs. FTS
NWE (NorthWestern Corporation) and FTS (Fortis Inc) are both stocks. Both are in the Utilities sector — NWE in Utilities - Diversified, FTS in Utilities - Regulated Electric. Over the past 10 years, NWE returned 5.74%/yr vs 9.98%/yr for FTS. At a 0.47 correlation, their price movements are largely independent.
Performance
NWE vs. FTS - Performance Comparison
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Returns By Period
In the year-to-date period, NWE achieves a 12.10% return, which is significantly higher than FTS's 10.99% return. Over the past 10 years, NWE has underperformed FTS with an annualized return of 5.74%, while FTS has yielded a comparatively higher 9.98% annualized return.
NWE
- 1D
- 1.42%
- 1M
- -0.42%
- YTD
- 12.10%
- 6M
- 12.20%
- 1Y
- 42.88%
- 3Y*
- 13.31%
- 5Y*
- 7.91%
- 10Y*
- 5.74%
FTS
- 1D
- 1.23%
- 1M
- 0.39%
- YTD
- 10.99%
- 6M
- 11.36%
- 1Y
- 23.31%
- 3Y*
- 15.18%
- 5Y*
- 8.79%
- 10Y*
- 9.98%
NWE vs. FTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NWE NorthWestern Corporation | 12.10% | 26.40% | 10.51% | -10.12% | 8.49% | 2.10% | -15.15% | 24.50% | 3.52% | 8.74% |
FTS Fortis Inc | 10.99% | 29.62% | 5.81% | 7.38% | -13.69% | 22.73% | 1.91% | 29.00% | -5.86% | 24.45% |
Correlation
The correlation between NWE and FTS is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.47 |
The correlation between NWE and FTS has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
Fundamentals
NWE:
$4.36B
FTS:
$28.83B
NWE:
$2.72
FTS:
CA$3.40
NWE:
26.07
FTS:
23.64
NWE:
2.66
FTS:
3.49
NWE:
1.50
FTS:
1.79
NWE:
$1.64B
FTS:
CA$12.22B
NWE:
$1.15B
FTS:
CA$7.44B
NWE:
$510.42M
FTS:
CA$5.80B
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Return for Risk
NWE vs. FTS — Risk / Return Rank
NWE
FTS
NWE vs. FTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NorthWestern Corporation (NWE) and Fortis Inc (FTS). 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.
| NWE | FTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.31 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 3.76 | +0.35 |
| Martin ratioReturn relative to average drawdown | 13.47 | 9.35 | +4.12 |
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Drawdowns
NWE vs. FTS - Drawdown Comparison
The maximum NWE drawdown since its inception was -39.96%, which is greater than FTS's maximum drawdown of -34.36%. Use the drawdown chart below to compare losses from any high point for NWE and FTS.
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Drawdown Indicators
| NWE | FTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.96% | -34.36% | -5.60% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | -6.23% | -4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -18.74% | -14.46% | -4.28% |
Max Drawdown (5Y)Largest decline over 5 years | -21.97% | -29.96% | +7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -39.34% | -34.36% | -4.98% |
Current DrawdownCurrent decline from peak | -2.36% | -2.37% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -6.82% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.50% | +0.69% |
Volatility
NWE vs. FTS - Volatility Comparison
NorthWestern Corporation (NWE) has a higher volatility of 10.79% compared to Fortis Inc (FTS) at 4.59%. This indicates that NWE's price experiences larger fluctuations and is considered to be riskier than FTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWE | FTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.79% | 4.59% | +6.20% |
Volatility (6M)Calculated over the trailing 6-month period | 18.12% | 10.59% | +7.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.15% | 13.53% | +9.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.35% | 16.32% | +5.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.89% | 18.96% | +5.93% |
Dividends
NWE vs. FTS - Dividend Comparison
NWE's dividend yield for the trailing twelve months is around 3.75%, more than FTS's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTS Fortis Inc | 3.24% | 3.42% | 4.62% | 4.50% | 4.48% | 3.40% | 3.54% | 3.31% | 3.35% | 4.43% | 4.94% | 0.00% |
NWE NorthWestern Corporation | 3.75% | 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. FTS - Financials Comparison
This section allows you to compare key financial metrics between NorthWestern Corporation and Fortis 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. FTS - 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%.
FTS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fortis Inc reported a gross profit of 935.41M and revenue of 3.39B. Therefore, the gross margin over that period was 27.6%.
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%.
FTS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fortis Inc reported an operating income of 935.41M and revenue of 3.39B, resulting in an operating margin of 27.6%.
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%.
FTS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fortis Inc reported a net income of 524.35M and revenue of 3.39B, resulting in a net margin of 15.5%.
Frequently Asked Questions
NWE and FTS have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NWE has higher volatility (10.79%) compared to FTS (4.59%). In terms of maximum drawdown, NWE dropped -39.96% vs FTS's -34.36%.
NWE currently has the higher Sharpe Ratio (1.87 vs 1.74), 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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