AON vs. TRP.TO
AON (Aon plc) and TRP.TO (TC Energy Corporation) are both stocks. AON operates in Insurance Brokers (Financial Services), while TRP.TO operates in Oil & Gas Midstream (Energy). Over the past 10 years, AON returned 13.10%/yr vs 10.57%/yr for TRP.TO. At a 0.19 correlation, their price movements are largely independent.
Performance
AON vs. TRP.TO - Performance Comparison
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Different Trading Currencies
AON is traded in USD, while TRP.TO is traded in CAD. To make them comparable, the TRP.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 TRP.TO's 26.98% return. Over the past 10 years, AON has outperformed TRP.TO with an annualized return of 13.10%, while TRP.TO has yielded a comparatively lower 10.57% 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%
TRP.TO
- 1D
- -0.09%
- 1M
- 3.32%
- YTD
- 26.98%
- 6M
- 29.69%
- 1Y
- 45.76%
- 3Y*
- 26.39%
- 5Y*
- 11.55%
- 10Y*
- 10.57%
AON vs. TRP.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% |
TRP.TO TC Energy Corporation | 26.98% | 24.01% | 26.92% | 5.02% | -8.57% | 20.40% | -18.81% | 54.87% | -22.52% | 12.87% |
Correlation
The correlation between AON and TRP.TO is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.19 |
The correlation between AON and TRP.TO shifts across timeframes, from 0.04 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
Fundamentals
AON:
$72.23B
TRP.TO:
CA$101.12B
AON:
$18.21
TRP.TO:
CA$3.31
AON:
18.41
TRP.TO:
29.36
AON:
0.47
TRP.TO:
0.39
AON:
4.15
TRP.TO:
6.41
AON:
7.34
TRP.TO:
4.00
AON:
$17.49B
TRP.TO:
CA$15.76B
AON:
$9.77B
TRP.TO:
CA$8.07B
AON:
$6.55B
TRP.TO:
CA$10.90B
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Return for Risk
AON vs. TRP.TO — Risk / Return Rank
AON
TRP.TO
AON vs. TRP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and TC Energy Corporation (TRP.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 | TRP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.84 | ||
| Sortino ratioReturn per unit of downside risk | -3.93 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.42 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 4.91 | -5.19 |
| Martin ratioReturn relative to average drawdown | -0.53 | 14.69 | -15.22 |
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Drawdowns
AON vs. TRP.TO - Drawdown Comparison
The maximum AON drawdown since its inception was -69.05%, which is greater than TRP.TO's maximum drawdown of -45.94%. Use the drawdown chart below to compare losses from any high point for AON and TRP.TO.
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Drawdown Indicators
| AON | TRP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.05% | -45.94% | -23.11% |
Max Drawdown (1Y)Largest decline over 1 year | -17.28% | -9.37% | -7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -23.84% | -16.90% | -6.94% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -38.51% | +13.13% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | -41.76% | +3.03% |
Current DrawdownCurrent decline from peak | -17.16% | -2.37% | -14.79% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -12.29% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.29% | 3.19% | +6.10% |
Volatility
AON vs. TRP.TO - Volatility Comparison
Aon plc (AON) has a higher volatility of 5.69% compared to TC Energy Corporation (TRP.TO) at 5.24%. This indicates that AON's price experiences larger fluctuations and is considered to be riskier than TRP.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 | TRP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 5.24% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 19.50% | 12.92% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.54% | 17.48% | +6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.11% | 20.80% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 24.25% | -0.80% |
Dividends
AON vs. TRP.TO - Dividend Comparison
AON's dividend yield for the trailing twelve months is around 0.91%, less than TRP.TO's 3.53% 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% |
TRP.TO TC Energy Corporation | 3.53% | 4.50% | 5.40% | 6.71% | 6.67% | 5.92% | 6.26% | 4.34% | 5.66% | 4.09% | 3.73% | 4.60% |
Financials
AON vs. TRP.TO - Financials Comparison
This section allows you to compare key financial metrics between Aon plc and TC Energy Corporation. 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. TRP.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%.
TRP.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.40B and revenue of 4.23B. Therefore, the gross margin over that period was 56.7%.
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%.
TRP.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.23B, resulting in an operating margin of 52.1%.
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%.
TRP.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 927.00M and revenue of 4.23B, resulting in a net margin of 21.9%.
Frequently Asked Questions
AON and TRP.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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