ALA.TO vs. ^TNX
ALA.TO (AltaGas Ltd.) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, ALA.TO returned 11.28%/yr vs 10.95%/yr for ^TNX. At a 0.04 correlation, their price movements are largely independent.
Performance
ALA.TO vs. ^TNX - Performance Comparison
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Different Trading Currencies
ALA.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ALA.TO achieves a 33.22% return, which is significantly higher than ^TNX's 9.25% return. Both investments have delivered pretty close results over the past 10 years, with ALA.TO having a 11.28% annualized return and ^TNX not far behind at 10.95%.
ALA.TO
- 1D
- 1.95%
- 1M
- 6.42%
- YTD
- 33.22%
- 6M
- 32.99%
- 1Y
- 48.49%
- 3Y*
- 36.61%
- 5Y*
- 22.03%
- 10Y*
- 11.28%
^TNX
- 1D
- 0.00%
- 1M
- 3.77%
- YTD
- 9.25%
- 6M
- 8.84%
- 1Y
- 4.53%
- 3Y*
- 7.92%
- 5Y*
- 27.08%
- 10Y*
- 10.95%
ALA.TO vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALA.TO AltaGas Ltd. | 33.22% | 29.01% | 24.95% | 24.42% | -10.99% | 52.14% | 0.41% | 49.96% | -46.84% | -9.37% |
^TNX Treasury Yield 10 Years | 9.02% | -13.14% | 28.45% | -2.53% | 174.83% | 63.40% | -53.02% | -32.07% | 21.16% | -7.94% |
Correlation
The correlation between ALA.TO and ^TNX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2009 | 0.04 |
The correlation between ALA.TO and ^TNX shifts across timeframes, from -0.07 (5 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ALA.TO vs. ^TNX — Risk / Return Rank
ALA.TO
^TNX
ALA.TO vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AltaGas Ltd. (ALA.TO) and Treasury Yield 10 Years (^TNX). 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.
| ALA.TO | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.58 | ||
| Sortino ratioReturn per unit of downside risk | +3.34 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.06 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 6.35 | 0.36 | +5.99 |
| Martin ratioReturn relative to average drawdown | 17.13 | 0.73 | +16.40 |
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
| ALA.TO | ^TNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 0.27 | +2.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.17 | 0.82 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.23 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.05 | +0.40 |
Drawdowns
ALA.TO vs. ^TNX - Drawdown Comparison
The maximum ALA.TO drawdown since its inception was -74.97%, smaller than the maximum ^TNX drawdown of -83.97%. Use the drawdown chart below to compare losses from any high point for ALA.TO and ^TNX.
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Drawdown Indicators
| ALA.TO | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.97% | -83.97% | +9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -7.67% | -12.47% | +4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -9.12% | -28.10% | +18.98% |
Max Drawdown (5Y)Largest decline over 5 years | -27.83% | -28.10% | +0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -66.67% | -83.93% | +17.26% |
Current DrawdownCurrent decline from peak | 0.00% | -9.63% | +9.63% |
Average DrawdownAverage peak-to-trough decline | -19.30% | -32.51% | +13.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 6.24% | -3.40% |
Volatility
ALA.TO vs. ^TNX - Volatility Comparison
The current volatility for AltaGas Ltd. (ALA.TO) is 4.91%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.21%. This indicates that ALA.TO experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALA.TO | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 5.21% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 13.01% | 11.59% | +1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.11% | 17.01% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.01% | 33.36% | -14.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.85% | 48.25% | -19.40% |
Frequently Asked Questions
ALA.TO and ^TNX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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