AON vs. CNQ.TO
AON (Aon plc) and CNQ.TO (Canadian Natural Resources Limited) are both stocks. AON operates in Insurance Brokers (Financial Services), while CNQ.TO operates in Oil & Gas E&P (Energy). Over the past 10 years, AON returned 13.10%/yr vs 22.36%/yr for CNQ.TO. At a 0.21 correlation, their price movements are largely independent.
Performance
AON vs. CNQ.TO - Performance Comparison
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Different Trading Currencies
AON is traded in USD, while CNQ.TO is traded in CAD. To make them comparable, the CNQ.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AON achieves a -4.52% return, which is significantly lower than CNQ.TO's 34.74% return. Over the past 10 years, AON has underperformed CNQ.TO with an annualized return of 13.10%, while CNQ.TO has yielded a comparatively higher 22.36% annualized return.
AON
- 1D
- 0.04%
- 1M
- 7.85%
- YTD
- -4.52%
- 6M
- -4.77%
- 1Y
- -4.90%
- 3Y*
- 2.54%
- 5Y*
- 6.89%
- 10Y*
- 13.10%
CNQ.TO
- 1D
- -0.48%
- 1M
- -4.02%
- YTD
- 34.74%
- 6M
- 38.66%
- 1Y
- 44.24%
- 3Y*
- 25.10%
- 5Y*
- 30.02%
- 10Y*
- 22.36%
AON vs. CNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | -4.52% | -0.94% | 24.45% | -2.31% | 0.61% | 43.39% | 2.37% | 44.68% | 9.94% | 21.49% |
CNQ.TO Canadian Natural Resources Limited | 34.74% | 15.70% | -0.18% | 30.08% | 53.38% | 91.35% | -10.82% | 44.81% | -27.46% | 18.95% |
Correlation
The correlation between AON and CNQ.TO is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.21 |
The correlation between AON and CNQ.TO shifts across timeframes, from -0.09 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
Fundamentals
AON:
$72.23B
CNQ.TO:
CA$132.89B
AON:
$18.21
CNQ.TO:
CA$4.65
AON:
18.41
CNQ.TO:
13.64
AON:
0.47
CNQ.TO:
0.66
AON:
4.15
CNQ.TO:
3.34
AON:
7.34
CNQ.TO:
2.98
AON:
$17.49B
CNQ.TO:
CA$39.61B
AON:
$9.77B
CNQ.TO:
CA$12.42B
AON:
$6.55B
CNQ.TO:
CA$17.78B
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Return for Risk
AON vs. CNQ.TO — Risk / Return Rank
AON
CNQ.TO
AON vs. CNQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and Canadian Natural Resources Limited (CNQ.TO). 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.
| AON | CNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.26 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 3.08 | -3.36 |
| Martin ratioReturn relative to average drawdown | -0.53 | 6.83 | -7.36 |
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Drawdowns
AON vs. CNQ.TO - Drawdown Comparison
The maximum AON drawdown since its inception was -69.05%, smaller than the maximum CNQ.TO drawdown of -76.64%. Use the drawdown chart below to compare losses from any high point for AON and CNQ.TO.
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Drawdown Indicators
| AON | CNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.05% | -76.64% | +7.59% |
Max Drawdown (1Y)Largest decline over 1 year | -17.28% | -14.43% | -2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -23.84% | -36.25% | +12.41% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -36.25% | +10.87% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | -76.64% | +37.91% |
Current DrawdownCurrent decline from peak | -17.16% | -9.64% | -7.52% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -21.20% | +7.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.29% | 6.49% | +2.80% |
Volatility
AON vs. CNQ.TO - Volatility Comparison
The current volatility for Aon plc (AON) is 5.69%, while Canadian Natural Resources Limited (CNQ.TO) has a volatility of 8.84%. This indicates that AON experiences smaller price fluctuations and is considered to be less risky than CNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AON | CNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 8.84% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 19.50% | 24.25% | -4.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.54% | 29.57% | -6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.11% | 31.39% | -8.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 38.81% | -15.36% |
Dividends
AON vs. CNQ.TO - Dividend Comparison
AON's dividend yield for the trailing twelve months is around 0.91%, less than CNQ.TO's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 0.91% | 0.82% | 0.74% | 0.83% | 0.73% | 0.66% | 0.84% | 0.83% | 1.35% | 1.05% | 1.16% | 1.25% |
CNQ.TO Canadian Natural Resources Limited | 3.77% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
Financials
AON vs. CNQ.TO - Financials Comparison
This section allows you to compare key financial metrics between Aon plc and Canadian Natural Resources Limited. 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
AON vs. CNQ.TO - Profitability Comparison
AON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aon plc reported a gross profit of 2.64B and revenue of 5.03B. Therefore, the gross margin over that period was 52.5%.
CNQ.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a gross profit of 3.47B and revenue of 10.81B. Therefore, the gross margin over that period was 32.1%.
AON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aon plc reported an operating income of 1.72B and revenue of 5.03B, resulting in an operating margin of 34.1%.
CNQ.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported an operating income of 2.67B and revenue of 10.81B, resulting in an operating margin of 24.7%.
AON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aon plc reported a net income of 1.21B and revenue of 5.03B, resulting in a net margin of 24.1%.
CNQ.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a net income of 1.35B and revenue of 10.81B, resulting in a net margin of 12.5%.
Frequently Asked Questions
AON and CNQ.TO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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