WMB vs. HESM
WMB (The Williams Companies, Inc.) and HESM (Hess Midstream LP) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 5 years, WMB returned 26.38%/yr vs 17.19%/yr for HESM. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
WMB vs. HESM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WMB achieves a 19.95% return, which is significantly higher than HESM's 17.71% return.
WMB
- 1D
- -0.51%
- 1M
- -0.51%
- YTD
- 19.95%
- 6M
- 17.36%
- 1Y
- 22.09%
- 3Y*
- 38.06%
- 5Y*
- 26.38%
- 10Y*
- 18.64%
HESM
- 1D
- 0.31%
- 1M
- 2.02%
- YTD
- 17.71%
- 6M
- 18.47%
- 1Y
- 8.48%
- 3Y*
- 19.59%
- 5Y*
- 17.19%
- 10Y*
- —
WMB vs. HESM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WMB The Williams Companies, Inc. | 19.95% | 14.91% | 62.35% | 11.86% | 32.83% | 38.36% | -8.20% | 14.18% | -23.88% | 6.02% |
HESM Hess Midstream LP | 17.71% | 0.56% | 26.41% | 14.36% | 16.62% | 52.91% | -5.29% | 43.83% | -8.61% | -20.37% |
Correlation
The correlation between WMB and HESM 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 | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2017 | 0.53 |
The correlation between WMB and HESM shifts across timeframes, from 0.47 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
WMB:
$87.55B
HESM:
$5.03B
WMB:
$2.28
HESM:
$2.89
WMB:
31.34
HESM:
13.48
WMB:
1.63
HESM:
1.09
WMB:
7.34
HESM:
3.05
WMB:
6.76
HESM:
13.42
WMB:
$11.92B
HESM:
$1.63B
WMB:
$7.49B
HESM:
$1.13B
WMB:
$6.88B
HESM:
$1.24B
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
WMB vs. HESM — Risk / Return Rank
WMB
HESM
WMB vs. HESM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Williams Companies, Inc. (WMB) and Hess Midstream LP (HESM). 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.
| WMB | HESM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.09 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 0.33 | +1.46 |
| Martin ratioReturn relative to average drawdown | 3.88 | 0.67 | +3.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| WMB | HESM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.35 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.12 | 0.63 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.33 | -0.10 |
Drawdowns
WMB vs. HESM - Drawdown Comparison
The maximum WMB drawdown since its inception was -98.03%, which is greater than HESM's maximum drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for WMB and HESM.
Loading charts...
Drawdown Indicators
| WMB | HESM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.03% | -75.16% | -22.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -25.78% | +13.42% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -25.78% | +13.42% |
Max Drawdown (5Y)Largest decline over 5 years | -23.01% | -28.72% | +5.71% |
Max Drawdown (10Y)Largest decline over 10 years | -68.08% | — | — |
Current DrawdownCurrent decline from peak | -9.84% | -4.39% | -5.45% |
Average DrawdownAverage peak-to-trough decline | -27.08% | -11.78% | -15.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.71% | 12.65% | -6.94% |
Volatility
WMB vs. HESM - Volatility Comparison
The Williams Companies, Inc. (WMB) has a higher volatility of 8.07% compared to Hess Midstream LP (HESM) at 7.26%. This indicates that WMB's price experiences larger fluctuations and is considered to be riskier than HESM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WMB | HESM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.07% | 7.26% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 14.73% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.07% | 24.06% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.62% | 27.34% | -3.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.00% | 38.83% | -7.83% |
Dividends
WMB vs. HESM - Dividend Comparison
WMB's dividend yield for the trailing twelve months is around 2.83%, less than HESM's 7.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HESM Hess Midstream LP | 7.79% | 8.41% | 7.12% | 7.50% | 7.30% | 6.93% | 8.86% | 6.89% | 8.00% | 2.93% | 0.00% | 0.00% |
WMB The Williams Companies, Inc. | 2.83% | 3.33% | 3.51% | 5.14% | 5.17% | 6.30% | 7.98% | 6.41% | 6.17% | 3.94% | 5.39% | 9.53% |
Financials
WMB vs. HESM - Financials Comparison
This section allows you to compare key financial metrics between The Williams Companies, Inc. and Hess Midstream LP. 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
WMB vs. HESM - Profitability Comparison
WMB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Williams Companies, Inc. reported a gross profit of 2.49B and revenue of 3.03B. Therefore, the gross margin over that period was 82.1%.
HESM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hess Midstream LP reported a gross profit of 246.00M and revenue of 390.10M. Therefore, the gross margin over that period was 63.1%.
WMB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Williams Companies, Inc. reported an operating income of 1.32B and revenue of 3.03B, resulting in an operating margin of 43.6%.
HESM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hess Midstream LP reported an operating income of 238.10M and revenue of 390.10M, resulting in an operating margin of 61.0%.
WMB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Williams Companies, Inc. reported a net income of 865.00M and revenue of 3.03B, resulting in a net margin of 28.6%.
HESM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hess Midstream LP reported a net income of 87.60M and revenue of 390.10M, resulting in a net margin of 22.5%.
Frequently Asked Questions
WMB and HESM 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.
WMB has higher volatility (8.07%) compared to HESM (7.26%). In terms of maximum drawdown, WMB dropped -98.03% vs HESM's -75.16%.
WMB currently has the higher Sharpe Ratio (0.96 vs 0.35), 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 WMB and HESM
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