SMID vs. CWST
SMID (Smith-Midland Corporation) and CWST (Casella Waste Systems, Inc.) are both stocks. SMID operates in Building Materials (Basic Materials), while CWST operates in Waste Management (Industrials). Over the past 10 years, SMID returned 28.58%/yr vs 27.47%/yr for CWST. At a 0.10 correlation, their price movements are largely independent.
Performance
SMID vs. CWST - Performance Comparison
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Returns By Period
In the year-to-date period, SMID achieves a -16.95% return, which is significantly lower than CWST's -12.01% return. Both investments have delivered pretty close results over the past 10 years, with SMID having a 28.58% annualized return and CWST not far behind at 27.47%.
SMID
- 1D
- 3.89%
- 1M
- 2.48%
- YTD
- -16.95%
- 6M
- -12.75%
- 1Y
- -2.49%
- 3Y*
- 13.59%
- 5Y*
- 6.53%
- 10Y*
- 28.58%
CWST
- 1D
- 1.89%
- 1M
- -1.41%
- YTD
- -12.01%
- 6M
- -13.79%
- 1Y
- -26.86%
- 3Y*
- 0.21%
- 5Y*
- 6.01%
- 10Y*
- 27.47%
SMID vs. CWST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMID Smith-Midland Corporation | -16.95% | -18.26% | 12.56% | 92.68% | -56.38% | 397.35% | 57.50% | -18.98% | 9.99% | 29.02% |
CWST Casella Waste Systems, Inc. | -12.01% | -7.44% | 23.81% | 7.75% | -7.15% | 37.89% | 34.59% | 61.57% | 23.76% | 85.50% |
Correlation
The correlation between SMID and CWST is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.10 |
Fundamentals
SMID:
$3.54
CWST:
$0.11
SMID:
8.53
CWST:
766.38
SMID:
1.14
CWST:
2.92
SMID:
$93.45M
CWST:
$1.88B
SMID:
$26.04M
CWST:
$248.24M
SMID:
$19.01M
CWST:
$405.88M
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Return for Risk
SMID vs. CWST — Risk / Return Rank
SMID
CWST
SMID vs. CWST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Smith-Midland Corporation (SMID) and Casella Waste Systems, Inc. (CWST). 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.
| SMID | CWST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.88 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | -0.74 | +0.68 |
| Martin ratioReturn relative to average drawdown | -0.13 | -1.25 | +1.12 |
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Drawdowns
SMID vs. CWST - Drawdown Comparison
The maximum SMID drawdown since its inception was -72.37%, smaller than the maximum CWST drawdown of -98.52%. Use the drawdown chart below to compare losses from any high point for SMID and CWST.
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Drawdown Indicators
| SMID | CWST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.37% | -98.52% | +26.15% |
Max Drawdown (1Y)Largest decline over 1 year | -39.29% | -36.33% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -48.85% | -37.72% | -11.13% |
Max Drawdown (5Y)Largest decline over 5 years | -72.37% | -37.72% | -34.65% |
Max Drawdown (10Y)Largest decline over 10 years | -72.37% | -37.72% | -34.65% |
Current DrawdownCurrent decline from peak | -39.68% | -28.40% | -11.28% |
Average DrawdownAverage peak-to-trough decline | -27.56% | -52.99% | +25.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.43% | 21.57% | -2.14% |
Volatility
SMID vs. CWST - Volatility Comparison
Smith-Midland Corporation (SMID) has a higher volatility of 22.53% compared to Casella Waste Systems, Inc. (CWST) at 9.67%. This indicates that SMID's price experiences larger fluctuations and is considered to be riskier than CWST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMID | CWST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.53% | 9.67% | +12.86% |
Volatility (6M)Calculated over the trailing 6-month period | 42.59% | 27.50% | +15.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 33.78% | +21.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.15% | 27.30% | +37.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.52% | 30.90% | +23.62% |
Dividends
SMID vs. CWST - Dividend Comparison
Neither SMID nor CWST has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CWST Casella Waste Systems, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMID Smith-Midland Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.92% | 0.74% | 0.73% | 0.19% |
Financials
SMID vs. CWST - Financials Comparison
This section allows you to compare key financial metrics between Smith-Midland Corporation and Casella Waste Systems, 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
SMID vs. CWST - Profitability Comparison
SMID - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Smith-Midland Corporation reported a gross profit of 5.52M and revenue of 23.11M. Therefore, the gross margin over that period was 23.9%.
CWST - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Casella Waste Systems, Inc. reported a gross profit of 0.00 and revenue of 457.33M. Therefore, the gross margin over that period was 0.0%.
SMID - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Smith-Midland Corporation reported an operating income of 3.24M and revenue of 23.11M, resulting in an operating margin of 14.0%.
CWST - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Casella Waste Systems, Inc. reported an operating income of 4.86M and revenue of 457.33M, resulting in an operating margin of 1.1%.
SMID - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Smith-Midland Corporation reported a net income of 2.13M and revenue of 23.11M, resulting in a net margin of 9.2%.
CWST - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Casella Waste Systems, Inc. reported a net income of -5.54M and revenue of 457.33M, resulting in a net margin of -1.2%.
Frequently Asked Questions
SMID and CWST have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMID has higher volatility (22.53%) compared to CWST (9.67%). In terms of maximum drawdown, SMID dropped -72.37% vs CWST's -98.52%.
SMID currently has the higher Sharpe Ratio (-0.04 vs -0.80), 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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