CM.TO vs. AQN.TO
CM.TO (Canadian Imperial Bank of Commerce) and AQN.TO (Algonquin Power & Utilities Corp.) are both stocks. CM.TO operates in Banks - Diversified (Financial Services), while AQN.TO operates in Utilities - Renewable (Utilities). Over the past 10 years, CM.TO returned 21.33%/yr vs 1.17%/yr for AQN.TO. At a 0.20 correlation, their price movements are largely independent.
Performance
CM.TO vs. AQN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CM.TO achieves a 28.96% return, which is significantly higher than AQN.TO's 0.57% return. Over the past 10 years, CM.TO has outperformed AQN.TO with an annualized return of 21.33%, while AQN.TO has yielded a comparatively lower 1.17% annualized return.
CM.TO
- 1D
- 0.28%
- 1M
- 3.79%
- YTD
- 28.96%
- 6M
- 26.06%
- 1Y
- 78.06%
- 3Y*
- 46.55%
- 5Y*
- 23.45%
- 10Y*
- 21.33%
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%
CM.TO vs. AQN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM.TO Canadian Imperial Bank of Commerce | 28.96% | 42.31% | 49.56% | 23.83% | -20.89% | 47.75% | 13.88% | 18.19% | -8.64% | 22.50% |
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% |
Correlation
The correlation between CM.TO and AQN.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 | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2006 | 0.20 |
The correlation between CM.TO and AQN.TO shifts across timeframes, from 0.12 (1 year) to 0.27 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
CM.TO:
CA$147.10B
AQN.TO:
CA$6.49B
CM.TO:
CA$10.53
AQN.TO:
$0.22
CM.TO:
15.11
AQN.TO:
27.49
CM.TO:
1.86
AQN.TO:
0.13
CM.TO:
2.79
AQN.TO:
1.85
CM.TO:
2.52
AQN.TO:
1.04
CM.TO:
CA$53.25B
AQN.TO:
$2.52B
CM.TO:
CA$28.73B
AQN.TO:
$924.77M
CM.TO:
CA$13.01B
AQN.TO:
$928.99M
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Return for Risk
CM.TO vs. AQN.TO — Risk / Return Rank
CM.TO
AQN.TO
CM.TO vs. AQN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM.TO) and Algonquin Power & Utilities Corp. (AQN.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.
| CM.TO | AQN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.00 | ||
| Sortino ratioReturn per unit of downside risk | +4.53 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.12 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 8.62 | 0.67 | +7.95 |
| Martin ratioReturn relative to average drawdown | 31.57 | 1.58 | +29.99 |
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Drawdowns
CM.TO vs. AQN.TO - Drawdown Comparison
The maximum CM.TO drawdown since its inception was -58.49%, smaller than the maximum AQN.TO drawdown of -78.58%. Use the drawdown chart below to compare losses from any high point for CM.TO and AQN.TO.
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Drawdown Indicators
| CM.TO | AQN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.49% | -78.58% | +20.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -15.90% | +6.79% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -39.68% | +23.11% |
Max Drawdown (5Y)Largest decline over 5 years | -35.43% | -63.79% | +28.36% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -66.31% | +26.29% |
Current DrawdownCurrent decline from peak | -1.00% | -50.78% | +49.78% |
Average DrawdownAverage peak-to-trough decline | -9.29% | -21.87% | +12.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 6.75% | -4.27% |
Volatility
CM.TO vs. AQN.TO - Volatility Comparison
Canadian Imperial Bank of Commerce (CM.TO) has a higher volatility of 7.75% compared to Algonquin Power & Utilities Corp. (AQN.TO) at 4.87%. This indicates that CM.TO's price experiences larger fluctuations and is considered to be riskier than AQN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CM.TO | AQN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.75% | 4.87% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 14.92% | 18.51% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 23.28% | -5.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.24% | 28.65% | -10.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.93% | 25.94% | -6.01% |
Dividends
CM.TO vs. AQN.TO - Dividend Comparison
CM.TO's dividend yield for the trailing twelve months is around 2.56%, less than AQN.TO's 4.28% 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% |
CM.TO Canadian Imperial Bank of Commerce | 2.56% | 3.20% | 4.04% | 5.47% | 7.52% | 8.13% | 10.74% | 10.51% | 10.58% | 8.39% | 8.84% | 9.69% |
Financials
CM.TO vs. AQN.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Imperial Bank of Commerce and Algonquin Power & Utilities Corp.. 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
CM.TO vs. AQN.TO - Profitability Comparison
CM.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a gross profit of 7.36B and revenue of 15.23B. Therefore, the gross margin over that period was 48.4%.
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%.
CM.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported an operating income of 3.20B and revenue of 15.23B, resulting in an operating margin of 21.0%.
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%.
CM.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Imperial Bank of Commerce reported a net income of 2.46B and revenue of 15.23B, resulting in a net margin of 16.1%.
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%.
Frequently Asked Questions
CM.TO and AQN.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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