CCO.TO vs. PPLN.TO

Last updated Jun 27, 2026

CCO.TO (Cameco Corporation) is a stock, while PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) is Energy Equities fund tracking the Mirae Asset Equal Weight Canadian Pipeline Index. Over the past 10 years, CCO.TO returned 27.82%/yr vs 11.15%/yr for PPLN.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

CCO.TO vs. PPLN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Cameco Corporation (CCO.TO) and Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCO.TO achieves a 17.74% return, which is significantly lower than PPLN.TO's 32.25% return. Over the past 10 years, CCO.TO has outperformed PPLN.TO with an annualized return of 27.82%, while PPLN.TO has yielded a comparatively lower 11.15% annualized return.

CCO.TO

• 1D: 0.77%
• 1M: -4.48%
• YTD: 17.74%
• 6M: 16.07%
• 1Y: 47.65%
• 3Y*: 56.31%
• 5Y*: 43.63%
• 10Y*: 27.82%

PPLN.TO

• 1D: -0.13%
• 1M: 5.17%
• YTD: 32.25%
• 6M: 32.57%
• 1Y: 44.82%
• 3Y*: 20.65%
• 5Y*: 14.50%
• 10Y*: 11.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CCO.TO vs. PPLN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CCO.TO Cameco Corporation	17.74%	70.37%	29.62%	86.52%	11.71%	62.18%	48.65%	-24.97%	34.00%	-14.67%
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF	32.25%	4.14%	17.18%	8.45%	16.63%	33.83%	-17.80%	20.50%	-11.54%	-2.67%

Correlation

The correlation between CCO.TO and PPLN.TO is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014	0.26

The correlation between CCO.TO and PPLN.TO shifts across timeframes, from -0.12 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CCO.TO vs. PPLN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CCO.TO

CCO.TO Risk / Return Rank: 70
CCO.TO Sharpe Ratio Rank: 70
CCO.TO Sortino Ratio Rank: 69
CCO.TO Omega Ratio Rank: 66
CCO.TO Calmar Ratio Rank: 73
CCO.TO Martin Ratio Rank: 73

PPLN.TO

PPLN.TO Risk / Return Rank: 88
PPLN.TO Sharpe Ratio Rank: 94
PPLN.TO Sortino Ratio Rank: 94
PPLN.TO Omega Ratio Rank: 92
PPLN.TO Calmar Ratio Rank: 88
PPLN.TO Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CCO.TO vs. PPLN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cameco Corporation (CCO.TO) and Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.

	CCO.TO	PPLN.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.86	3.08	-2.23
Sortino ratio: Return per unit of downside risk	1.56	4.31	-2.75
Omega ratio: Gain probability vs. loss probability	1.19	1.53	-0.35
Calmar ratio: Return relative to maximum drawdown	1.71	4.44	-2.74
Martin ratio: Return relative to average drawdown	3.89	11.78	-7.90

CCO.TO vs. PPLN.TO - Sharpe Ratio Comparison

The current CCO.TO Sharpe Ratio is 0.86, which is lower than the PPLN.TO Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of CCO.TO and PPLN.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CCO.TO vs. PPLN.TO - Drawdown Comparison

The maximum CCO.TO drawdown since its inception was -83.63%, which is greater than PPLN.TO's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for CCO.TO and PPLN.TO.

Drawdown Indicators

	CCO.TO	PPLN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-83.63%	-59.05%	-24.58%
Max Drawdown (1Y) Largest decline over 1 year	-27.09%	-10.22%	-16.87%
Max Drawdown (3Y) Largest decline over 3 years	-39.52%	-15.31%	-24.21%
Max Drawdown (5Y) Largest decline over 5 years	-39.52%	-18.54%	-20.98%
Max Drawdown (10Y) Largest decline over 10 years	-52.84%	-59.05%	+6.21%
Current Drawdown Current decline from peak	-18.55%	-0.51%	-18.04%
Average Drawdown Average peak-to-trough decline	-48.41%	-9.43%	-38.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.89%	3.85%	+8.04%

Volatility

CCO.TO vs. PPLN.TO - Volatility Comparison

Cameco Corporation (CCO.TO) has a higher volatility of 17.92% compared to Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) at 5.08%. This indicates that CCO.TO's price experiences larger fluctuations and is considered to be riskier than PPLN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCO.TO	PPLN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.92%	5.08%	+12.84%
Volatility (6M) Calculated over the trailing 6-month period	38.52%	11.53%	+26.99%
Volatility (1Y) Calculated over the trailing 1-year period	54.17%	14.74%	+39.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.82%	17.43%	+30.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.14%	23.19%	+21.95%

Dividends

CCO.TO vs. PPLN.TO - Dividend Comparison

CCO.TO's dividend yield for the trailing twelve months is around 0.16%, less than PPLN.TO's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCO.TO Cameco Corporation	0.16%	0.19%	0.22%	0.21%	0.39%	0.29%	0.47%	0.69%	0.52%	3.45%	2.85%	2.34%
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF	4.16%	4.35%	2.94%	3.77%	3.23%	3.47%	5.76%	4.40%	5.21%	4.31%	3.99%	4.41%

Frequently Asked Questions

Can I hold both CCO.TO and PPLN.TO in my portfolio?

CCO.TO and PPLN.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.