CNI vs. NSC
CNI (Canadian National Railway Company) and NSC (Norfolk Southern Corporation) are both stocks. Both operate in the Railroads industry within the Industrials sector. Over the past 10 years, CNI returned 9.61%/yr vs 16.79%/yr for NSC. Their 0.58 correlation means they have sometimes moved together and sometimes differently.
Performance
CNI vs. NSC - Performance Comparison
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Returns By Period
In the year-to-date period, CNI achieves a 30.21% return, which is significantly higher than NSC's 17.21% return. Over the past 10 years, CNI has underperformed NSC with an annualized return of 9.61%, while NSC has yielded a comparatively higher 16.79% annualized return.
CNI
- 1D
- 0.06%
- 1M
- 4.65%
- 6M
- 33.76%
- YTD
- 30.21%
- 1Y
- 40.45%
- 3Y*
- 4.46%
- 5Y*
- 5.29%
- 10Y*
- 9.61%
- ALL TIME*
- 15.40%
NSC
- 1D
- 0.46%
- 1M
- 3.96%
- 6M
- 16.20%
- YTD
- 17.21%
- 1Y
- 23.72%
- 3Y*
- 15.25%
- 5Y*
- 7.65%
- 10Y*
- 16.79%
- ALL TIME*
- 12.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $241.64M | $209.71M | $185.48M | |
| $484.48M | $381.58M | $373.28M |
CNI vs. NSC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNI Canadian National Railway Company | 30.21% | -0.10% | -17.51% | 7.84% | -1.86% | 13.70% | 23.66% | 24.26% | -8.49% | 25.03% |
NSC Norfolk Southern Corporation | 17.21% | 25.65% | 1.55% | -1.63% | -15.59% | 27.26% | 24.76% | 32.39% | 5.22% | 36.85% |
Correlation
The correlation between CNI and NSC is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 1996 | 0.58 |
The correlation between CNI and NSC has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.
Fundamentals
CNI:
$76.95B
NSC:
$75.35B
CNI:
CA$7.79
NSC:
$15.63
CNI:
22.89
NSC:
21.46
CNI:
6.16
NSC:
4.51
CNI:
CA$17.78B
NSC:
$12.54B
CNI:
CA$7.90B
NSC:
$6.73B
CNI:
CA$9.04B
NSC:
$5.42B
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Return for Risk
CNI vs. NSC — Risk / Return Rank
CNI
NSC
CNI vs. NSC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian National Railway Company (CNI) and Norfolk Southern Corporation (NSC). 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.
| CNI | NSC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.23 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 1.85 | +1.37 |
| Martin ratioReturn relative to average drawdown | 12.18 | 5.28 | +6.90 |
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Drawdowns
CNI vs. NSC - Drawdown Comparison
The maximum CNI drawdown since its inception was -46.66%, smaller than the maximum NSC drawdown of -67.74%. Use the drawdown chart below to compare losses from any high point for CNI and NSC.
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Drawdown Indicators
| CNI | NSC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.66% | -67.74% | +21.08% |
Max Drawdown (1Y)Largest decline over 1 year | -12.37% | -12.47% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -29.14% | -25.11% | -4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -29.14% | -35.64% | +6.50% |
Max Drawdown (10Y)Largest decline over 10 years | -29.15% | -44.42% | +15.27% |
Current DrawdownCurrent decline from peak | -2.58% | -4.33% | +1.75% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -15.10% | +5.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 4.35% | -1.09% |
Volatility
CNI vs. NSC - Volatility Comparison
The current volatility for Canadian National Railway Company (CNI) is 5.57%, while Norfolk Southern Corporation (NSC) has a volatility of 7.39%. This indicates that CNI experiences smaller price fluctuations and is considered to be less risky than NSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNI | NSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.57% | 7.39% | -1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 16.96% | 16.78% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.66% | 20.36% | +1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 24.96% | -2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.70% | 27.50% | -4.80% |
Dividends
CNI vs. NSC - Dividend Comparison
CNI's dividend yield for the trailing twelve months is around 2.05%, more than NSC's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNI Canadian National Railway Company | 2.05% | 2.58% | 2.43% | 1.85% | 1.41% | 1.61% | 1.59% | 1.79% | 2.01% | 2.00% | 2.23% | 2.24% |
NSC Norfolk Southern Corporation | 1.21% | 1.87% | 2.30% | 2.28% | 2.01% | 1.40% | 1.58% | 1.85% | 2.03% | 1.68% | 2.18% | 2.79% |
Financials
CNI vs. NSC - Financials Comparison
This section allows you to compare key financial metrics between Canadian National Railway Company and Norfolk Southern Corporation. 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
CNI vs. NSC - Profitability Comparison
CNI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Canadian National Railway Company reported a gross profit of 2.08B and revenue of 4.76B. Therefore, the gross margin over that period was 43.7%.
NSC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Norfolk Southern Corporation reported a gross profit of 2.32B and revenue of 3.47B. Therefore, the gross margin over that period was 66.8%.
CNI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Canadian National Railway Company reported an operating income of 1.78B and revenue of 4.76B, resulting in an operating margin of 37.5%.
NSC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Norfolk Southern Corporation reported an operating income of 1.12B and revenue of 3.47B, resulting in an operating margin of 32.4%.
CNI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Canadian National Railway Company reported a net income of 1.25B and revenue of 4.76B, resulting in a net margin of 26.3%.
NSC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Norfolk Southern Corporation reported a net income of 734.00M and revenue of 3.47B, resulting in a net margin of 21.2%.
Frequently Asked Questions
CNI and NSC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NSC has higher volatility (7.39%) compared to CNI (5.57%). In terms of maximum drawdown, CNI dropped -46.66% vs NSC's -67.74%.
CNI currently has the higher Sharpe Ratio (1.84 vs 1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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