PAGP vs. KMI
PAGP (Plains GP Holdings, L.P.) and KMI (Kinder Morgan, Inc.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, PAGP returned 6.62%/yr vs 11.73%/yr for KMI. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
PAGP vs. KMI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PAGP achieves a 32.24% return, which is significantly higher than KMI's 18.40% return. Over the past 10 years, PAGP has underperformed KMI with an annualized return of 6.62%, while KMI has yielded a comparatively higher 11.73% annualized return.
PAGP
- 1D
- -0.04%
- 1M
- 3.70%
- YTD
- 32.24%
- 6M
- 34.35%
- 1Y
- 38.87%
- 3Y*
- 29.64%
- 5Y*
- 22.53%
- 10Y*
- 6.62%
KMI
- 1D
- 1.85%
- 1M
- -2.65%
- YTD
- 18.40%
- 6M
- 21.76%
- 1Y
- 20.25%
- 3Y*
- 29.74%
- 5Y*
- 17.07%
- 10Y*
- 11.73%
PAGP vs. KMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAGP Plains GP Holdings, L.P. | 32.24% | 12.69% | 23.64% | 38.09% | 31.78% | 28.97% | -51.17% | 0.30% | -3.49% | -32.11% |
KMI Kinder Morgan, Inc. | 18.40% | 4.74% | 64.42% | 4.10% | 21.23% | 23.75% | -30.77% | 44.43% | -11.18% | -10.56% |
Correlation
The correlation between PAGP and KMI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.60 |
The correlation between PAGP and KMI shifts across timeframes, from 0.43 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
PAGP:
$17.21B
KMI:
$71.07B
PAGP:
$2.23
KMI:
$1.53
PAGP:
10.91
KMI:
20.88
PAGP:
0.15
KMI:
1.27
PAGP:
0.18
KMI:
4.05
PAGP:
1.34
KMI:
2.27
PAGP:
$45.26B
KMI:
$17.52B
PAGP:
$2.07B
KMI:
$5.86B
PAGP:
$2.44B
KMI:
$6.90B
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
PAGP vs. KMI — Risk / Return Rank
PAGP
KMI
PAGP vs. KMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Plains GP Holdings, L.P. (PAGP) and Kinder Morgan, Inc. (KMI). 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.
| PAGP | KMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.18 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 1.83 | +0.87 |
| Martin ratioReturn relative to average drawdown | 7.83 | 3.62 | +4.21 |
Loading charts...
Drawdowns
PAGP vs. KMI - Drawdown Comparison
The maximum PAGP drawdown since its inception was -94.21%, which is greater than KMI's maximum drawdown of -72.70%. Use the drawdown chart below to compare losses from any high point for PAGP and KMI.
Loading charts...
Drawdown Indicators
| PAGP | KMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.21% | -72.70% | -21.51% |
Max Drawdown (1Y)Largest decline over 1 year | -14.44% | -11.11% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -21.02% | -18.40% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -23.89% | -20.31% | -3.58% |
Max Drawdown (10Y)Largest decline over 10 years | -88.04% | -55.13% | -32.91% |
Current DrawdownCurrent decline from peak | -35.01% | -6.91% | -28.10% |
Average DrawdownAverage peak-to-trough decline | -57.68% | -32.06% | -25.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 5.60% | -0.62% |
Volatility
PAGP vs. KMI - Volatility Comparison
The current volatility for Plains GP Holdings, L.P. (PAGP) is 6.57%, while Kinder Morgan, Inc. (KMI) has a volatility of 6.93%. This indicates that PAGP experiences smaller price fluctuations and is considered to be less risky than KMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PAGP | KMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.57% | 6.93% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 13.32% | 14.66% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.05% | 20.34% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.38% | 22.61% | +4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.71% | 27.71% | +14.00% |
Dividends
PAGP vs. KMI - Dividend Comparison
PAGP's dividend yield for the trailing twelve months is around 6.54%, more than KMI's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KMI Kinder Morgan, Inc. | 3.68% | 4.24% | 4.18% | 6.38% | 6.10% | 6.76% | 7.59% | 4.49% | 4.71% | 2.77% | 2.41% | 12.94% |
PAGP Plains GP Holdings, L.P. | 6.54% | 7.94% | 6.91% | 6.71% | 6.69% | 7.10% | 10.65% | 7.28% | 5.97% | 8.88% | 6.91% | 9.34% |
Financials
PAGP vs. KMI - Financials Comparison
This section allows you to compare key financial metrics between Plains GP Holdings, L.P. and Kinder Morgan, 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
PAGP vs. KMI - Profitability Comparison
PAGP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Plains GP Holdings, L.P. reported a gross profit of 0.00 and revenue of 12.47B. Therefore, the gross margin over that period was 0.0%.
KMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported a gross profit of 0.00 and revenue of 4.83B. Therefore, the gross margin over that period was 0.0%.
PAGP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Plains GP Holdings, L.P. reported an operating income of 405.00M and revenue of 12.47B, resulting in an operating margin of 3.3%.
KMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported an operating income of 1.44B and revenue of 4.83B, resulting in an operating margin of 29.9%.
PAGP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Plains GP Holdings, L.P. reported a net income of 551.00M and revenue of 12.47B, resulting in a net margin of 4.4%.
KMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Kinder Morgan, Inc. reported a net income of 1.06B and revenue of 4.83B, resulting in a net margin of 22.0%.
Frequently Asked Questions
PAGP and KMI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMI has higher volatility (6.93%) compared to PAGP (6.57%). In terms of maximum drawdown, PAGP dropped -94.21% vs KMI's -72.70%.
PAGP currently has the higher Sharpe Ratio (2.16 vs 1.00), 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 PAGP and KMI
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