AQN vs. CGL-C.TO
AQN (Algonquin Power & Utilities Corp) is a stock, while CGL-C.TO (iShares Gold Bullion ETF) is Gold fund tracking the LBMA Gold Price (CAD). Over the past 10 years, AQN returned 0.81%/yr vs 12.13%/yr for CGL-C.TO. At a 0.01 correlation, their price movements are largely independent.
Performance
AQN vs. CGL-C.TO - Performance Comparison
Loading charts...
Different Trading Currencies
AQN is traded in USD, while CGL-C.TO is traded in CAD. To make them comparable, the CGL-C.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AQN achieves a -1.40% return, which is significantly lower than CGL-C.TO's -0.02% return. Over the past 10 years, AQN has underperformed CGL-C.TO with an annualized return of 0.81%, while CGL-C.TO has yielded a comparatively higher 12.13% annualized return.
AQN
- 1D
- 1.01%
- 1M
- 4.35%
- YTD
- -1.40%
- 6M
- 2.99%
- 1Y
- 7.06%
- 3Y*
- -5.53%
- 5Y*
- -12.99%
- 10Y*
- 0.81%
CGL-C.TO
- 1D
- 2.63%
- 1M
- -5.00%
- YTD
- -0.02%
- 6M
- 0.27%
- 1Y
- 25.26%
- 3Y*
- 29.60%
- 5Y*
- 17.95%
- 10Y*
- 12.13%
AQN vs. CGL-C.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AQN Algonquin Power & Utilities Corp | -1.40% | 44.80% | -25.01% | 2.92% | -51.72% | -8.25% | 21.54% | 46.99% | -5.28% | 37.60% |
CGL-C.TO iShares Gold Bullion ETF | -0.02% | 62.99% | 26.68% | 12.82% | -0.22% | -4.80% | 24.71% | 16.80% | -1.43% | 11.88% |
Correlation
The correlation between AQN and CGL-C.TO is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.01 |
The correlation between AQN and CGL-C.TO shifts across timeframes, from 0.01 (all time) to 0.12 (3 years), reflecting how their relationship changes across market environments.
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
AQN vs. CGL-C.TO — Risk / Return Rank
AQN
CGL-C.TO
AQN vs. CGL-C.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Algonquin Power & Utilities Corp (AQN) and iShares Gold Bullion ETF (CGL-C.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 | CGL-C.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.20 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 1.04 | -0.62 |
| Martin ratioReturn relative to average drawdown | 0.97 | 3.00 | -2.04 |
Loading charts...
Drawdowns
AQN vs. CGL-C.TO - Drawdown Comparison
The maximum AQN drawdown since its inception was -69.73%, which is greater than CGL-C.TO's maximum drawdown of -42.11%. Use the drawdown chart below to compare losses from any high point for AQN and CGL-C.TO.
Loading charts...
Drawdown Indicators
| AQN | CGL-C.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.73% | -42.11% | -27.62% |
Max Drawdown (1Y)Largest decline over 1 year | -16.74% | -24.32% | +7.58% |
Max Drawdown (3Y)Largest decline over 3 years | -44.91% | -24.32% | -20.59% |
Max Drawdown (5Y)Largest decline over 5 years | -68.21% | -24.32% | -43.89% |
Max Drawdown (10Y)Largest decline over 10 years | -69.73% | -24.32% | -45.41% |
Current DrawdownCurrent decline from peak | -54.71% | -19.73% | -34.98% |
Average DrawdownAverage peak-to-trough decline | -18.32% | -18.51% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.32% | 8.46% | -1.14% |
Volatility
AQN vs. CGL-C.TO - Volatility Comparison
The current volatility for Algonquin Power & Utilities Corp (AQN) is 5.41%, while iShares Gold Bullion ETF (CGL-C.TO) has a volatility of 8.18%. This indicates that AQN experiences smaller price fluctuations and is considered to be less risky than CGL-C.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AQN | CGL-C.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 8.18% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 18.67% | 23.01% | -4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.09% | 26.82% | -2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.56% | 18.25% | +12.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.98% | 16.75% | +11.23% |
Dividends
AQN vs. CGL-C.TO - Dividend Comparison
AQN's dividend yield for the trailing twelve months is around 4.33%, while CGL-C.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQN Algonquin Power & Utilities Corp | 4.33% | 4.23% | 7.80% | 6.87% | 10.94% | 4.62% | 3.68% | 3.90% | 4.99% | 4.18% | 4.88% | 4.77% |
CGL-C.TO iShares Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AQN and CGL-C.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for AQN and CGL-C.TO
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