SO vs. BTAL

Last updated Jun 9, 2026

SO (The Southern Company) is a stock, while BTAL (AGFiQ US Market Neutral Anti-Beta Fund) is Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index. Over the past 10 years, SO returned 10.45%/yr vs -4.76%/yr for BTAL. At a 0.09 correlation, their price movements are largely independent.

Performance

SO vs. BTAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Southern Company (SO) and AGFiQ US Market Neutral Anti-Beta Fund (BTAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SO achieves a 6.37% return, which is significantly higher than BTAL's -18.69% return. Over the past 10 years, SO has outperformed BTAL with an annualized return of 10.45%, while BTAL has yielded a comparatively lower -4.76% annualized return.

SO

• 1D: -1.43%
• 1M: 0.26%
• YTD: 6.37%
• 6M: 8.41%
• 1Y: 6.80%
• 3Y*: 12.49%
• 5Y*: 11.53%
• 10Y*: 10.45%

BTAL

• 1D: -2.26%
• 1M: -2.66%
• YTD: -18.69%
• 6M: -16.94%
• 1Y: -35.41%
• 3Y*: -12.18%
• 5Y*: -4.53%
• 10Y*: -4.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SO vs. BTAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SO The Southern Company	6.37%	9.47%	21.72%	2.21%	8.24%	16.34%	0.63%	51.65%	-3.75%	2.42%
BTAL AGFiQ US Market Neutral Anti-Beta Fund	-18.69%	-20.17%	12.83%	-15.11%	20.48%	-6.81%	-13.86%	1.07%	15.13%	-2.13%

Correlation

The correlation between SO and BTAL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011	0.09

The correlation between SO and BTAL shifts across timeframes, from 0.09 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SO vs. BTAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SO

SO Risk / Return Rank: 52
SO Sharpe Ratio Rank: 57
SO Sortino Ratio Rank: 49
SO Omega Ratio Rank: 47
SO Calmar Ratio Rank: 53
SO Martin Ratio Rank: 54

BTAL

BTAL Risk / Return Rank: 0
BTAL Sharpe Ratio Rank: 0
BTAL Sortino Ratio Rank: 0
BTAL Omega Ratio Rank: 0
BTAL Calmar Ratio Rank: 1
BTAL Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SO vs. BTAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Southern Company (SO) and AGFiQ US Market Neutral Anti-Beta Fund (BTAL). 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.

	SO	BTAL	Difference
Sharpe ratio: Return per unit of total volatility	0.43	-1.61	+2.04
Sortino ratio: Return per unit of downside risk	0.72	-2.52	+3.24
Omega ratio: Gain probability vs. loss probability	1.09	0.74	+0.34
Calmar ratio: Return relative to maximum drawdown	0.46	-0.95	+1.40
Martin ratio: Return relative to average drawdown	1.07	-1.62	+2.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SO vs. BTAL - Sharpe Ratio Comparison

The current SO Sharpe Ratio is 0.43, which is higher than the BTAL Sharpe Ratio of -1.61. The chart below compares the historical Sharpe Ratios of SO and BTAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SO	BTAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	-1.61	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	-0.24	+0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	-0.28	+0.75
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	-0.24	+0.86

Drawdowns

SO vs. BTAL - Drawdown Comparison

The maximum SO drawdown since its inception was -38.43%, smaller than the maximum BTAL drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for SO and BTAL.

Drawdown Indicators

	SO	BTAL	Difference
Max Drawdown Largest peak-to-trough decline	-38.43%	-50.28%	+11.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.99%	-37.50%	+22.51%
Max Drawdown (3Y) Largest decline over 3 years	-14.99%	-45.16%	+30.17%
Max Drawdown (5Y) Largest decline over 5 years	-23.28%	-45.16%	+21.88%
Max Drawdown (10Y) Largest decline over 10 years	-38.43%	-50.28%	+11.85%
Current Drawdown Current decline from peak	-7.14%	-49.32%	+42.18%
Average Drawdown Average peak-to-trough decline	-6.87%	-21.98%	+15.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.36%	21.90%	-15.54%

Volatility

SO vs. BTAL - Volatility Comparison

The current volatility for The Southern Company (SO) is 5.69%, while AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a volatility of 7.68%. This indicates that SO experiences smaller price fluctuations and is considered to be less risky than BTAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SO	BTAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	7.68%	-1.99%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	15.98%	-2.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.07%	22.07%	-6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	18.86%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.96%	17.29%	+4.67%

Dividends

SO vs. BTAL - Dividend Comparison

SO's dividend yield for the trailing twelve months is around 3.26%, more than BTAL's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTAL AGFiQ US Market Neutral Anti-Beta Fund	3.06%	2.49%	3.49%	6.14%	1.01%	0.00%	0.00%	0.88%	0.39%	0.00%	0.00%	0.00%
SO The Southern Company	3.26%	3.37%	3.47%	3.96%	3.78%	3.82%	4.13%	3.86%	5.42%	4.78%	4.52%	4.60%

Frequently Asked Questions

Can I hold both SO and BTAL in my portfolio?

SO and BTAL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SO or BTAL?

BTAL has higher volatility (7.68%) compared to SO (5.69%). In terms of maximum drawdown, SO dropped -38.43% vs BTAL's -50.28%.

Which has better risk-adjusted returns?

SO currently has the higher Sharpe Ratio (0.43 vs -1.61), 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.