TX vs. CIG
TX (Ternium S.A.) and CIG (Companhia Energética de Minas Gerais) are both stocks. TX operates in Steel (Basic Materials), while CIG operates in Utilities - Diversified (Utilities). Over the past 10 years, TX returned 16.13%/yr vs 20.43%/yr for CIG. At a 0.36 correlation, their price movements are largely independent.
Performance
TX vs. CIG - Performance Comparison
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Returns By Period
In the year-to-date period, TX achieves a 38.11% return, which is significantly higher than CIG's 11.86% return. Over the past 10 years, TX has underperformed CIG with an annualized return of 16.13%, while CIG has yielded a comparatively higher 20.43% annualized return.
TX
- 1D
- 4.40%
- 1M
- 21.56%
- YTD
- 38.11%
- 6M
- 39.98%
- 1Y
- 87.60%
- 3Y*
- 16.72%
- 5Y*
- 14.57%
- 10Y*
- 16.13%
CIG
- 1D
- 2.38%
- 1M
- -12.15%
- YTD
- 11.86%
- 6M
- 10.80%
- 1Y
- 30.95%
- 3Y*
- 17.08%
- 5Y*
- 23.82%
- 10Y*
- 20.43%
TX vs. CIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TX Ternium S.A. | 38.11% | 43.56% | -25.86% | 49.94% | -24.80% | 60.96% | 32.18% | -14.86% | -11.86% | 36.48% |
CIG Companhia Energética de Minas Gerais | 11.86% | 28.04% | 9.38% | 20.62% | 60.40% | -6.09% | -7.92% | -1.14% | 84.56% | -8.17% |
Correlation
The correlation between TX and CIG is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2006 | 0.36 |
Fundamentals
TX:
$10.06B
CIG:
$6.15B
TX:
$2.90
CIG:
$1.69
TX:
17.64
CIG:
1.27
TX:
0.30
CIG:
0.12
TX:
0.65
CIG:
0.14
TX:
0.82
CIG:
0.22
TX:
$15.58B
CIG:
$43.35B
TX:
$2.44B
CIG:
$6.06B
TX:
$1.62B
CIG:
$6.81B
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Return for Risk
TX vs. CIG — Risk / Return Rank
TX
CIG
TX vs. CIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ternium S.A. (TX) and Companhia Energética de Minas Gerais (CIG). 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.
| TX | CIG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.90 | 1.04 | +1.86 |
Sortino ratioReturn per unit of downside risk | 3.70 | 1.58 | +2.12 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.19 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 5.68 | 1.35 | +4.33 |
Martin ratioReturn relative to average drawdown | 18.58 | 4.05 | +14.54 |
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
| TX | CIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.90 | 1.04 | +1.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.64 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.44 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.14 | +0.04 |
Drawdowns
TX vs. CIG - Drawdown Comparison
The maximum TX drawdown since its inception was -89.66%, roughly equal to the maximum CIG drawdown of -88.84%. Use the drawdown chart below to compare losses from any high point for TX and CIG.
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Drawdown Indicators
| TX | CIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.66% | -88.84% | -0.82% |
Max Drawdown (1Y)Largest decline over 1 year | -17.17% | -21.43% | +4.26% |
Max Drawdown (3Y)Largest decline over 3 years | -42.04% | -22.06% | -19.98% |
Max Drawdown (5Y)Largest decline over 5 years | -49.48% | -26.00% | -23.48% |
Max Drawdown (10Y)Largest decline over 10 years | -74.94% | -65.73% | -9.21% |
Current DrawdownCurrent decline from peak | 0.00% | -19.55% | +19.55% |
Average DrawdownAverage peak-to-trough decline | -31.30% | -41.64% | +10.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 7.13% | -1.88% |
Volatility
TX vs. CIG - Volatility Comparison
Ternium S.A. (TX) has a higher volatility of 15.40% compared to Companhia Energética de Minas Gerais (CIG) at 8.58%. This indicates that TX's price experiences larger fluctuations and is considered to be riskier than CIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TX | CIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.40% | 8.58% | +6.82% |
Volatility (6M)Calculated over the trailing 6-month period | 23.41% | 22.90% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.78% | 29.99% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.32% | 37.64% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.92% | 46.79% | -8.87% |
Dividends
TX vs. CIG - Dividend Comparison
TX's dividend yield for the trailing twelve months is around 4.29%, less than CIG's 11.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIG Companhia Energética de Minas Gerais | 11.05% | 12.02% | 11.10% | 5.50% | 13.28% | 10.94% | 3.94% | 3.35% | 4.20% | 1.98% | 7.39% | 7.78% |
TX Ternium S.A. | 4.29% | 7.07% | 10.66% | 6.83% | 8.84% | 6.66% | 0.00% | 5.45% | 4.06% | 3.17% | 3.73% | 7.24% |
Financials
TX vs. CIG - Financials Comparison
This section allows you to compare key financial metrics between Ternium S.A. and Companhia Energética de Minas Gerais. 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
TX vs. CIG - Profitability Comparison
TX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ternium S.A. reported a gross profit of 686.87M and revenue of 3.93B. Therefore, the gross margin over that period was 17.5%.
CIG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Companhia Energética de Minas Gerais reported a gross profit of 1.62B and revenue of 10.27B. Therefore, the gross margin over that period was 15.8%.
TX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ternium S.A. reported an operating income of 290.07M and revenue of 3.93B, resulting in an operating margin of 7.4%.
CIG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Companhia Energética de Minas Gerais reported an operating income of 1.31B and revenue of 10.27B, resulting in an operating margin of 12.8%.
TX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ternium S.A. reported a net income of 213.02M and revenue of 3.93B, resulting in a net margin of 5.4%.
CIG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Companhia Energética de Minas Gerais reported a net income of 960.23M and revenue of 10.27B, resulting in a net margin of 9.4%.
Frequently Asked Questions
TX and CIG have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TX has higher volatility (15.40%) compared to CIG (8.58%). In terms of maximum drawdown, TX dropped -89.66% vs CIG's -88.84%.
TX currently has the higher Sharpe Ratio (2.90 vs 1.04), 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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