BLX.TO vs. HYDR
BLX.TO (Boralex Inc.) is a stock, while HYDR (Global X Hydrogen ETF) is Alternative Energy Equities fund tracking the Solactive Global Hydrogen Index - Benchmark TR Net. Over the past 5 years, BLX.TO returned 1.48%/yr vs -16.94%/yr for HYDR. At a 0.27 correlation, their price movements are largely independent.
Performance
BLX.TO vs. HYDR - Performance Comparison
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Different Trading Currencies
BLX.TO is traded in CAD, while HYDR is traded in USD. To make them comparable, the HYDR values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BLX.TO achieves a 47.77% return, which is significantly higher than HYDR's 34.59% return.
BLX.TO
- 1D
- 0.03%
- 1M
- 1.29%
- 6M
- 38.84%
- YTD
- 47.77%
- 1Y
- 19.44%
- 3Y*
- 3.83%
- 5Y*
- 1.48%
- 10Y*
- 8.99%
- ALL TIME*
- 8.87%
HYDR
- 1D
- -2.31%
- 1M
- -26.85%
- 6M
- 9.09%
- YTD
- 34.59%
- 1Y
- 81.22%
- 3Y*
- -3.60%
- 5Y*
- -16.94%
- 10Y*
- —
- ALL TIME*
- -16.72%
BLX.TO vs. HYDR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BLX.TO Boralex Inc. | 47.77% | -9.71% | -12.94% | -14.18% | 17.32% | -7.51% |
HYDR Global X Hydrogen ETF | 34.59% | 37.17% | -27.42% | -38.00% | -43.89% | -14.28% |
Correlation
The correlation between BLX.TO and HYDR is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021 | 0.27 |
The correlation between BLX.TO and HYDR shifts across timeframes, from 0.09 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BLX.TO vs. HYDR — Risk / Return Rank
BLX.TO
HYDR
BLX.TO vs. HYDR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Boralex Inc. (BLX.TO) and Global X Hydrogen ETF (HYDR). 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.
| BLX.TO | HYDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.93 | -1.20 |
| Martin ratioReturn relative to average drawdown | 1.40 | 4.76 | -3.36 |
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Drawdowns
BLX.TO vs. HYDR - Drawdown Comparison
The maximum BLX.TO drawdown since its inception was -73.68%, smaller than the maximum HYDR drawdown of -87.77%. Use the drawdown chart below to compare losses from any high point for BLX.TO and HYDR.
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Drawdown Indicators
| BLX.TO | HYDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.68% | -87.77% | +14.09% |
Max Drawdown (1Y)Largest decline over 1 year | -26.56% | -42.29% | +15.73% |
Max Drawdown (3Y)Largest decline over 3 years | -32.62% | -68.17% | +35.55% |
Max Drawdown (5Y)Largest decline over 5 years | -49.89% | -87.77% | +37.88% |
Max Drawdown (10Y)Largest decline over 10 years | -52.64% | — | — |
Current DrawdownCurrent decline from peak | -25.77% | -66.01% | +40.24% |
Average DrawdownAverage peak-to-trough decline | -30.15% | -61.98% | +31.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.91% | 17.12% | -3.21% |
Volatility
BLX.TO vs. HYDR - Volatility Comparison
The current volatility for Boralex Inc. (BLX.TO) is 1.36%, while Global X Hydrogen ETF (HYDR) has a volatility of 16.69%. This indicates that BLX.TO experiences smaller price fluctuations and is considered to be less risky than HYDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLX.TO | HYDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 16.69% | -15.33% |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | 41.19% | -22.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.39% | 56.98% | -30.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.95% | 47.88% | -19.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.85% | 47.85% | -19.00% |
Dividends
BLX.TO vs. HYDR - Dividend Comparison
BLX.TO's dividend yield for the trailing twelve months is around 1.78%, less than HYDR's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLX.TO Boralex Inc. | 1.78% | 2.61% | 2.30% | 1.96% | 1.65% | 1.90% | 1.40% | 2.70% | 3.74% | 2.55% | 2.87% | 3.60% |
HYDR Global X Hydrogen ETF | 3.18% | 3.82% | 0.40% | 0.00% | 0.00% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BLX.TO and HYDR have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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