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CNI vs. SLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNI vs. SLV

Last updated Jun 13, 2026

CNI (Canadian National Railway Company) is a stock, while SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, CNI returned 9.51%/yr vs 13.99%/yr for SLV. At a 0.19 correlation, their price movements are largely independent.

Performance

CNI vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canadian National Railway Company (CNI) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CNI achieves a 21.78% return, which is significantly higher than SLV's -4.86% return. Over the past 10 years, CNI has underperformed SLV with an annualized return of 9.51%, while SLV has yielded a comparatively higher 13.99% annualized return.

CNI

1D
0.60%
1M
6.94%
YTD
21.78%
6M
22.98%
1Y
15.90%
3Y*
3.44%
5Y*
3.57%
10Y*
9.51%

SLV

1D
0.77%
1M
-22.76%
YTD
-4.86%
6M
9.25%
1Y
85.39%
3Y*
41.27%
5Y*
18.83%
10Y*
13.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CNI vs. SLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CNI
Canadian National Railway Company		21.78%-0.10%-17.51%7.84%-1.86%13.70%23.66%24.26%-8.49%25.03%
SLV
iShares Silver Trust		-4.86%144.66%20.89%-1.09%2.37%-12.45%47.30%14.88%-9.19%5.82%

Correlation

The correlation between CNI and SLV is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Apr 28, 2006

0.19

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Canadian National Railway Company

iShares Silver Trust

Often compared with CNI:
CNI vs. CPCNI vs. NSCCNI vs. BAMCNI vs. SPYCNI vs. UPSCNI vs. FDXCNI vs. ECL
Often compared with SLV:
SLV vs. GLDSLV vs. SIVRSLV vs. PSLVSLV vs. SILSLV vs. SILJSLV vs. SLVPSLV vs. AGQ

Return for Risk

CNI vs. SLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CNI
CNI Risk / Return Rank: 6262
Overall Rank
CNI Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
CNI Sortino Ratio Rank: 5959
Sortino Ratio Rank
CNI Omega Ratio Rank: 5858
Omega Ratio Rank
CNI Calmar Ratio Rank: 6666
Calmar Ratio Rank
CNI Martin Ratio Rank: 6363
Martin Ratio Rank
SLV
SLV Risk / Return Rank: 4242
Overall Rank
SLV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SLV Sortino Ratio Rank: 3838
Sortino Ratio Rank
SLV Omega Ratio Rank: 5353
Omega Ratio Rank
SLV Calmar Ratio Rank: 4343
Calmar Ratio Rank
SLV Martin Ratio Rank: 3232
Martin Ratio Rank
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.

CNI vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canadian National Railway Company (CNI) and iShares Silver Trust (SLV). 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.

CNISLVDifference
Sharpe ratioReturn per unit of total volatility
0.73
1.44

-0.71

Sortino ratioReturn per unit of downside risk
1.09
1.76

-0.67

Omega ratioGain probability vs. loss probability

1.14

1.29

-0.15

Calmar ratioReturn relative to maximum drawdown

1.13

1.89

-0.76

Martin ratioReturn relative to average drawdown

2.08

4.10

-2.03

CNI vs. SLV - Sharpe Ratio Comparison

The current CNI Sharpe Ratio is 0.73, which is lower than the SLV Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of CNI and SLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CNI vs. SLV - Drawdown Comparison

The maximum CNI drawdown since its inception was -46.66%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for CNI and SLV.

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Drawdown Indicators

CNISLVDifference

Max Drawdown

Largest peak-to-trough decline

-46.66%

-76.28%

+29.62%

Max Drawdown (1Y)

Largest decline over 1 year

-14.15%

-45.40%

+31.25%

Max Drawdown (3Y)

Largest decline over 3 years

-29.14%

-45.40%

+16.26%

Max Drawdown (5Y)

Largest decline over 5 years

-29.14%

-45.40%

+16.26%

Max Drawdown (10Y)

Largest decline over 10 years

-29.15%

-45.40%

+16.25%

Current Drawdown

Current decline from peak

-5.55%

-41.96%

+36.41%

Average Drawdown

Average peak-to-trough decline

-9.49%

-44.66%

+35.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.68%

20.88%

-13.20%

Volatility

CNI vs. SLV - Volatility Comparison

The current volatility for Canadian National Railway Company (CNI) is 4.12%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that CNI experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CNISLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

16.34%

-12.22%

Volatility (6M)

Calculated over the trailing 6-month period

17.30%

59.10%

-41.80%

Volatility (1Y)

Calculated over the trailing 1-year period

21.90%

59.82%

-37.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.38%

36.46%

-14.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.67%

32.00%

-9.33%

Dividends

CNI vs. SLV - Dividend Comparison

CNI's dividend yield for the trailing twelve months is around 2.20%, while SLV has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CNI
Canadian National Railway Company		2.20%2.58%2.43%1.85%1.41%1.61%1.59%1.79%2.01%2.00%2.23%2.24%
SLV
iShares Silver Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CNI and SLV have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLV has higher volatility (16.34%) compared to CNI (4.12%). In terms of maximum drawdown, CNI dropped -46.66% vs SLV's -76.28%.

SLV currently has the higher Sharpe Ratio (1.44 vs 0.73), 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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