AQN.TO vs. TD.TO
AQN.TO (Algonquin Power & Utilities Corp.) and TD.TO (The Toronto-Dominion Bank) are both stocks. AQN.TO operates in Utilities - Renewable (Utilities), while TD.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, AQN.TO returned 1.17%/yr vs 16.14%/yr for TD.TO. At a 0.20 correlation, their price movements are largely independent.
Performance
AQN.TO vs. TD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, AQN.TO achieves a 0.57% return, which is significantly lower than TD.TO's 29.06% return. Over the past 10 years, AQN.TO has underperformed TD.TO with an annualized return of 1.17%, while TD.TO has yielded a comparatively higher 16.14% annualized return.
AQN.TO
- 1D
- 0.96%
- 1M
- 5.79%
- YTD
- 0.57%
- 6M
- 4.51%
- 1Y
- 10.64%
- 3Y*
- -3.64%
- 5Y*
- -10.86%
- 10Y*
- 1.17%
TD.TO
- 1D
- 0.16%
- 1M
- 10.77%
- YTD
- 29.06%
- 6M
- 31.71%
- 1Y
- 76.96%
- 3Y*
- 32.62%
- 5Y*
- 18.35%
- 10Y*
- 16.14%
AQN.TO vs. TD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AQN.TO Algonquin Power & Utilities Corp. | 0.57% | 38.66% | -18.70% | 0.64% | -48.61% | -9.69% | 18.93% | 38.62% | 1.80% | 28.17% |
TD.TO The Toronto-Dominion Bank | 29.06% | 77.06% | -6.05% | 2.34% | -6.01% | 40.15% | 3.72% | 11.66% | -4.57% | 15.15% |
Correlation
The correlation between AQN.TO and TD.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2006 | 0.20 |
The correlation between AQN.TO and TD.TO shifts across timeframes, from 0.12 (1 year) to 0.31 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
AQN.TO:
CA$6.49B
TD.TO:
CA$273.59B
AQN.TO:
$0.22
TD.TO:
CA$8.81
AQN.TO:
27.49
TD.TO:
18.65
AQN.TO:
0.13
TD.TO:
0.67
AQN.TO:
1.85
TD.TO:
2.47
AQN.TO:
1.04
TD.TO:
2.43
AQN.TO:
$2.52B
TD.TO:
CA$112.59B
AQN.TO:
$924.77M
TD.TO:
CA$59.48B
AQN.TO:
$928.99M
TD.TO:
CA$19.98B
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Return for Risk
AQN.TO vs. TD.TO — Risk / Return Rank
AQN.TO
TD.TO
AQN.TO vs. TD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Algonquin Power & Utilities Corp. (AQN.TO) and The Toronto-Dominion Bank (TD.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.
| AQN.TO | TD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.64 | ||
| Sortino ratioReturn per unit of downside risk | -5.35 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.89 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 11.58 | -10.91 |
| Martin ratioReturn relative to average drawdown | 1.58 | 48.66 | -47.08 |
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Drawdowns
AQN.TO vs. TD.TO - Drawdown Comparison
The maximum AQN.TO drawdown since its inception was -78.58%, which is greater than TD.TO's maximum drawdown of -52.42%. Use the drawdown chart below to compare losses from any high point for AQN.TO and TD.TO.
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Drawdown Indicators
| AQN.TO | TD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.58% | -52.42% | -26.16% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -6.68% | -9.22% |
Max Drawdown (3Y)Largest decline over 3 years | -39.68% | -15.04% | -24.64% |
Max Drawdown (5Y)Largest decline over 5 years | -63.79% | -26.06% | -37.73% |
Max Drawdown (10Y)Largest decline over 10 years | -66.31% | -35.80% | -30.51% |
Current DrawdownCurrent decline from peak | -50.78% | 0.00% | -50.78% |
Average DrawdownAverage peak-to-trough decline | -21.87% | -7.29% | -14.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.75% | 1.59% | +5.16% |
Volatility
AQN.TO vs. TD.TO - Volatility Comparison
Algonquin Power & Utilities Corp. (AQN.TO) and The Toronto-Dominion Bank (TD.TO) have volatilities of 4.87% and 5.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQN.TO | TD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.87% | 5.01% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 18.51% | 11.72% | +6.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.28% | 15.19% | +8.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.65% | 17.17% | +11.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.94% | 19.29% | +6.65% |
Dividends
AQN.TO vs. TD.TO - Dividend Comparison
AQN.TO's dividend yield for the trailing twelve months is around 4.28%, more than TD.TO's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQN.TO Algonquin Power & Utilities Corp. | 4.28% | 4.32% | 7.48% | 6.95% | 9.59% | 3.65% | 3.70% | 3.24% | 3.99% | 3.59% | 4.23% | 4.08% |
TD.TO The Toronto-Dominion Bank | 2.59% | 3.25% | 5.33% | 4.48% | 4.06% | 3.26% | 4.32% | 3.97% | 3.85% | 3.19% | 3.26% | 3.69% |
Financials
AQN.TO vs. TD.TO - Financials Comparison
This section allows you to compare key financial metrics between Algonquin Power & Utilities Corp. and The Toronto-Dominion Bank. 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
AQN.TO vs. TD.TO - Profitability Comparison
AQN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported a gross profit of 169.97M and revenue of 771.54M. Therefore, the gross margin over that period was 22.0%.
TD.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported a gross profit of 14.91B and revenue of 27.03B. Therefore, the gross margin over that period was 55.2%.
AQN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported an operating income of 169.97M and revenue of 771.54M, resulting in an operating margin of 22.0%.
TD.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported an operating income of 5.03B and revenue of 27.03B, resulting in an operating margin of 18.6%.
AQN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Algonquin Power & Utilities Corp. reported a net income of 84.79M and revenue of 771.54M, resulting in a net margin of 11.0%.
TD.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported a net income of 4.25B and revenue of 27.03B, resulting in a net margin of 15.7%.
Frequently Asked Questions
AQN.TO and TD.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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