ARE.TO vs. ACO-X.TO
ARE.TO (Aecon Group Inc.) and ACO-X.TO (ATCO Ltd) are both stocks. ARE.TO operates in Engineering & Construction (Industrials), while ACO-X.TO operates in Utilities - Diversified (Utilities). Over the past 10 years, ARE.TO returned 38.59%/yr vs 9.01%/yr for ACO-X.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
ARE.TO vs. ACO-X.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ARE.TO achieves a 43.18% return, which is significantly higher than ACO-X.TO's 27.60% return. Over the past 10 years, ARE.TO has outperformed ACO-X.TO with an annualized return of 38.59%, while ACO-X.TO has yielded a comparatively lower 9.01% annualized return.
ARE.TO
- 1D
- -1.07%
- 1M
- -18.16%
- YTD
- 43.18%
- 6M
- 62.06%
- 1Y
- 138.99%
- 3Y*
- 92.06%
- 5Y*
- 63.75%
- 10Y*
- 38.59%
ACO-X.TO
- 1D
- 1.91%
- 1M
- 4.82%
- YTD
- 27.60%
- 6M
- 33.24%
- 1Y
- 42.16%
- 3Y*
- 24.33%
- 5Y*
- 14.65%
- 10Y*
- 9.01%
ARE.TO vs. ACO-X.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARE.TO Aecon Group Inc. | 43.18% | 18.93% | 185.08% | 134.25% | -10.60% | 37.60% | 33.22% | 28.75% | -9.02% | 34.60% |
ACO-X.TO ATCO Ltd | 27.60% | 23.29% | 28.83% | -4.25% | 3.50% | 22.23% | -23.55% | 33.41% | -10.91% | 3.62% |
Correlation
The correlation between ARE.TO and ACO-X.TO is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1988 | 0.08 |
The correlation between ARE.TO and ACO-X.TO shifts across timeframes, from -0.06 (1 year) to 0.12 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
ARE.TO:
CA$3.00B
ACO-X.TO:
CA$8.02B
ARE.TO:
CA$0.53
ACO-X.TO:
CA$1.40
ARE.TO:
83.75
ACO-X.TO:
50.58
ARE.TO:
1.34
ACO-X.TO:
2.41
ARE.TO:
0.52
ACO-X.TO:
1.55
ARE.TO:
2.81
ACO-X.TO:
1.73
ARE.TO:
CA$5.63B
ACO-X.TO:
CA$5.16B
ARE.TO:
CA$398.23M
ACO-X.TO:
CA$1.64B
ARE.TO:
CA$185.76M
ACO-X.TO:
CA$2.10B
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Return for Risk
ARE.TO vs. ACO-X.TO — Risk / Return Rank
ARE.TO
ACO-X.TO
ARE.TO vs. ACO-X.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aecon Group Inc. (ARE.TO) and ATCO Ltd (ACO-X.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.
| ARE.TO | ACO-X.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.68 | 2.77 | +0.92 |
Sortino ratioReturn per unit of downside risk | 4.37 | 3.71 | +0.65 |
Omega ratioGain probability vs. loss probability | 1.54 | 1.48 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 6.52 | 5.41 | +1.10 |
Martin ratioReturn relative to average drawdown | 19.67 | 13.44 | +6.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ARE.TO | ACO-X.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.68 | 2.77 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.53 | 0.94 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.03 | 0.44 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.28 | -0.19 |
Drawdowns
ARE.TO vs. ACO-X.TO - Drawdown Comparison
The maximum ARE.TO drawdown since its inception was -99.67%, which is greater than ACO-X.TO's maximum drawdown of -84.73%. Use the drawdown chart below to compare losses from any high point for ARE.TO and ACO-X.TO.
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Drawdown Indicators
| ARE.TO | ACO-X.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.67% | -84.73% | -14.94% |
Max Drawdown (1Y)Largest decline over 1 year | -21.58% | -7.83% | -13.75% |
Max Drawdown (3Y)Largest decline over 3 years | -44.21% | -18.19% | -26.02% |
Max Drawdown (5Y)Largest decline over 5 years | -44.21% | -26.84% | -17.37% |
Max Drawdown (10Y)Largest decline over 10 years | -44.21% | -48.31% | +4.10% |
Current DrawdownCurrent decline from peak | -21.58% | -1.15% | -20.43% |
Average DrawdownAverage peak-to-trough decline | -70.46% | -30.11% | -40.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.12% | 3.16% | +3.96% |
Volatility
ARE.TO vs. ACO-X.TO - Volatility Comparison
Aecon Group Inc. (ARE.TO) has a higher volatility of 10.80% compared to ATCO Ltd (ACO-X.TO) at 5.80%. This indicates that ARE.TO's price experiences larger fluctuations and is considered to be riskier than ACO-X.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARE.TO | ACO-X.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.80% | 5.80% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 25.94% | 11.62% | +14.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.19% | 15.31% | +22.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.05% | 15.75% | +26.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.64% | 20.58% | +17.06% |
Dividends
ARE.TO vs. ACO-X.TO - Dividend Comparison
ARE.TO's dividend yield for the trailing twelve months is around 1.71%, less than ACO-X.TO's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACO-X.TO ATCO Ltd | 2.89% | 3.58% | 4.12% | 4.92% | 4.36% | 4.20% | 4.77% | 3.25% | 3.91% | 2.92% | 2.55% | 2.78% |
ARE.TO Aecon Group Inc. | 1.71% | 2.43% | 21.86% | 43.61% | 59.93% | 30.69% | 29.83% | 26.14% | 2.84% | 2.51% | 3.02% | 2.60% |
Financials
ARE.TO vs. ACO-X.TO - Financials Comparison
This section allows you to compare key financial metrics between Aecon Group Inc. and ATCO Ltd. 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
ARE.TO vs. ACO-X.TO - Profitability Comparison
ARE.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aecon Group Inc. reported a gross profit of 100.55M and revenue of 1.26B. Therefore, the gross margin over that period was 8.0%.
ACO-X.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ATCO Ltd reported a gross profit of 592.00M and revenue of 1.43B. Therefore, the gross margin over that period was 41.5%.
ARE.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aecon Group Inc. reported an operating income of -6.50M and revenue of 1.26B, resulting in an operating margin of -0.5%.
ACO-X.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ATCO Ltd reported an operating income of 401.00M and revenue of 1.43B, resulting in an operating margin of 28.1%.
ARE.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aecon Group Inc. reported a net income of -17.92M and revenue of 1.26B, resulting in a net margin of -1.4%.
ACO-X.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ATCO Ltd reported a net income of 152.00M and revenue of 1.43B, resulting in a net margin of 10.7%.
Frequently Asked Questions
ARE.TO and ACO-X.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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