APD vs. CNQ
APD (Air Products and Chemicals, Inc.) and CNQ (Canadian Natural Resources Limited) are both stocks. APD operates in Chemicals (Basic Materials), while CNQ operates in Oil & Gas E&P (Energy). Over the past 10 years, APD returned 9.22%/yr vs 18.22%/yr for CNQ. At a 0.34 correlation, their price movements are largely independent.
Performance
APD vs. CNQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, APD achieves a 13.57% return, which is significantly lower than CNQ's 37.99% return. Over the past 10 years, APD has underperformed CNQ with an annualized return of 9.22%, while CNQ has yielded a comparatively higher 18.22% annualized return.
APD
- 1D
- -1.98%
- 1M
- -6.31%
- YTD
- 13.57%
- 6M
- 18.85%
- 1Y
- 1.58%
- 3Y*
- 2.39%
- 5Y*
- 1.07%
- 10Y*
- 9.22%
CNQ
- 1D
- 1.29%
- 1M
- 3.95%
- YTD
- 37.99%
- 6M
- 38.89%
- 1Y
- 53.83%
- 3Y*
- 23.71%
- 5Y*
- 26.79%
- 10Y*
- 18.22%
APD vs. CNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APD Air Products and Chemicals, Inc. | 13.57% | -12.66% | 8.09% | -8.95% | 3.91% | 13.75% | 18.82% | 50.02% | 0.26% | 17.04% |
CNQ Canadian Natural Resources Limited | 37.99% | 15.58% | -1.31% | 23.72% | 42.82% | 83.55% | -19.06% | 39.72% | -29.92% | 15.97% |
Correlation
The correlation between APD and CNQ 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 | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2000 | 0.34 |
Over the past year, the correlation between APD and CNQ has dropped to 0.13 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
Fundamentals
APD:
$61.69B
CNQ:
$97.03B
APD:
$9.45
CNQ:
$4.65
APD:
29.28
CNQ:
9.95
APD:
1.36
CNQ:
0.48
APD:
4.95
CNQ:
2.37
APD:
3.94
CNQ:
2.17
APD:
$12.46B
CNQ:
$40.74B
APD:
$3.99B
CNQ:
$12.53B
APD:
$4.36B
CNQ:
$22.99B
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
APD vs. CNQ — Risk / Return Rank
APD
CNQ
APD vs. CNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Air Products and Chemicals, Inc. (APD) and Canadian Natural Resources Limited (CNQ). 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.
| APD | CNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.30 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 3.82 | -3.75 |
| Martin ratioReturn relative to average drawdown | 0.18 | 8.73 | -8.56 |
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
| APD | CNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 1.87 | -1.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.82 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.45 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.41 | +0.01 |
Drawdowns
APD vs. CNQ - Drawdown Comparison
The maximum APD drawdown since its inception was -60.30%, smaller than the maximum CNQ drawdown of -80.75%. Use the drawdown chart below to compare losses from any high point for APD and CNQ.
Loading charts...
Drawdown Indicators
| APD | CNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.30% | -80.75% | +20.45% |
Max Drawdown (1Y)Largest decline over 1 year | -22.39% | -14.16% | -8.23% |
Max Drawdown (3Y)Largest decline over 3 years | -30.43% | -35.85% | +5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -31.77% | -35.85% | +4.08% |
Max Drawdown (10Y)Largest decline over 10 years | -31.77% | -77.84% | +46.07% |
Current DrawdownCurrent decline from peak | -15.42% | -7.60% | -7.82% |
Average DrawdownAverage peak-to-trough decline | -11.05% | -23.52% | +12.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.90% | 6.18% | +2.72% |
Volatility
APD vs. CNQ - Volatility Comparison
The current volatility for Air Products and Chemicals, Inc. (APD) is 5.35%, while Canadian Natural Resources Limited (CNQ) has a volatility of 8.80%. This indicates that APD experiences smaller price fluctuations and is considered to be less risky than CNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| APD | CNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 8.80% | -3.45% |
Volatility (6M)Calculated over the trailing 6-month period | 18.93% | 23.90% | -4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.63% | 28.96% | -4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.00% | 32.84% | -6.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.90% | 40.26% | -14.36% |
Dividends
APD vs. CNQ - Dividend Comparison
APD's dividend yield for the trailing twelve months is around 2.59%, less than CNQ's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APD Air Products and Chemicals, Inc. | 2.59% | 2.89% | 1.83% | 2.56% | 2.10% | 1.97% | 1.96% | 1.97% | 2.75% | 2.32% | 2.39% | 2.49% |
CNQ Canadian Natural Resources Limited | 3.76% | 5.01% | 5.02% | 4.17% | 6.31% | 3.78% | 5.26% | 3.49% | 4.56% | 3.08% | 2.94% | 4.21% |
Financials
APD vs. CNQ - Financials Comparison
This section allows you to compare key financial metrics between Air Products and Chemicals, Inc. 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
APD vs. CNQ - Profitability Comparison
APD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Air Products and Chemicals, Inc. reported a gross profit of 987.40M and revenue of 3.17B. Therefore, the gross margin over that period was 31.1%.
CNQ - 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 3.48B and revenue of 10.84B. Therefore, the gross margin over that period was 32.1%.
APD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Air Products and Chemicals, Inc. reported an operating income of 752.70M and revenue of 3.17B, resulting in an operating margin of 23.7%.
CNQ - 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 2.68B and revenue of 10.84B, resulting in an operating margin of 24.7%.
APD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Air Products and Chemicals, Inc. reported a net income of 710.40M and revenue of 3.17B, resulting in a net margin of 22.4%.
CNQ - 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 10.84B, resulting in a net margin of 12.5%.
Frequently Asked Questions
APD and CNQ 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.
CNQ has higher volatility (8.80%) compared to APD (5.35%). In terms of maximum drawdown, APD dropped -60.30% vs CNQ's -80.75%.
CNQ currently has the higher Sharpe Ratio (1.87 vs 0.06), 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 APD and CNQ
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