CNQ.TO vs. ATD.TO
CNQ.TO (Canadian Natural Resources Limited) and ATD.TO (Alimentation Couche-Tard Inc.) are both stocks. CNQ.TO operates in Oil & Gas E&P (Energy), while ATD.TO operates in Specialty Retail (Consumer Cyclical). Over the past 10 years, CNQ.TO returned 23.43%/yr vs 13.04%/yr for ATD.TO. At a 0.09 correlation, their price movements are largely independent.
Performance
CNQ.TO vs. ATD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNQ.TO achieves a 37.61% return, which is significantly higher than ATD.TO's 12.78% return. Over the past 10 years, CNQ.TO has outperformed ATD.TO with an annualized return of 23.43%, while ATD.TO has yielded a comparatively lower 13.04% annualized return.
CNQ.TO
- 1D
- -0.19%
- 1M
- -1.99%
- YTD
- 37.61%
- 6M
- 40.79%
- 1Y
- 47.63%
- 3Y*
- 27.02%
- 5Y*
- 33.86%
- 10Y*
- 23.43%
ATD.TO
- 1D
- -0.05%
- 1M
- 8.16%
- YTD
- 12.78%
- 6M
- 17.03%
- 1Y
- 15.69%
- 3Y*
- 10.22%
- 5Y*
- 14.17%
- 10Y*
- 13.04%
CNQ.TO vs. ATD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 37.61% | 10.42% | 8.27% | 26.98% | 63.10% | 91.26% | -12.94% | 38.84% | -21.36% | 10.89% |
ATD.TO Alimentation Couche-Tard Inc. | 12.78% | -4.91% | 3.11% | 32.26% | 13.21% | 22.84% | 5.88% | 23.08% | 4.21% | 7.08% |
Correlation
The correlation between CNQ.TO and ATD.TO is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.09 |
The correlation between CNQ.TO and ATD.TO shifts across timeframes, from -0.07 (1 year) to 0.11 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CNQ.TO:
CA$132.89B
ATD.TO:
CA$77.94B
CNQ.TO:
CA$4.65
ATD.TO:
$2.90
CNQ.TO:
13.64
ATD.TO:
20.80
CNQ.TO:
0.66
ATD.TO:
6.44
CNQ.TO:
3.34
ATD.TO:
0.77
CNQ.TO:
2.98
ATD.TO:
3.58
CNQ.TO:
CA$39.61B
ATD.TO:
$73.29B
CNQ.TO:
CA$12.42B
ATD.TO:
$13.89B
CNQ.TO:
CA$17.78B
ATD.TO:
$6.26B
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Return for Risk
CNQ.TO vs. ATD.TO — Risk / Return Rank
CNQ.TO
ATD.TO
CNQ.TO vs. ATD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ.TO) and Alimentation Couche-Tard Inc. (ATD.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.
| CNQ.TO | ATD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.13 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 1.45 | +1.67 |
| Martin ratioReturn relative to average drawdown | 7.98 | 2.66 | +5.33 |
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Drawdowns
CNQ.TO vs. ATD.TO - Drawdown Comparison
The maximum CNQ.TO drawdown since its inception was -74.63%, which is greater than ATD.TO's maximum drawdown of -60.77%. Use the drawdown chart below to compare losses from any high point for CNQ.TO and ATD.TO.
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Drawdown Indicators
| CNQ.TO | ATD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.63% | -60.77% | -13.86% |
Max Drawdown (1Y)Largest decline over 1 year | -15.33% | -10.84% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -33.12% | -22.16% | -10.96% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -22.16% | -10.96% |
Max Drawdown (10Y)Largest decline over 10 years | -74.63% | -32.61% | -42.02% |
Current DrawdownCurrent decline from peak | -8.72% | -0.84% | -7.88% |
Average DrawdownAverage peak-to-trough decline | -17.63% | -10.30% | -7.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.98% | 5.97% | +0.01% |
Volatility
CNQ.TO vs. ATD.TO - Volatility Comparison
Canadian Natural Resources Limited (CNQ.TO) has a higher volatility of 8.91% compared to Alimentation Couche-Tard Inc. (ATD.TO) at 5.83%. This indicates that CNQ.TO's price experiences larger fluctuations and is considered to be riskier than ATD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNQ.TO | ATD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.91% | 5.83% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 24.23% | 17.92% | +6.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.98% | 25.50% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.61% | 23.66% | +6.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.12% | 24.51% | +13.61% |
Dividends
CNQ.TO vs. ATD.TO - Dividend Comparison
CNQ.TO's dividend yield for the trailing twelve months is around 3.77%, more than ATD.TO's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATD.TO Alimentation Couche-Tard Inc. | 0.97% | 1.07% | 0.90% | 0.76% | 0.79% | 0.70% | 0.69% | 1.06% | 1.15% | 1.09% | 1.00% | 0.72% |
CNQ.TO Canadian Natural Resources Limited | 3.77% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
Financials
CNQ.TO vs. ATD.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Natural Resources Limited and Alimentation Couche-Tard Inc.. 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
CNQ.TO vs. ATD.TO - Profitability Comparison
CNQ.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a gross profit of 3.47B and revenue of 10.81B. Therefore, the gross margin over that period was 32.1%.
ATD.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alimentation Couche-Tard Inc. reported a gross profit of 4.24B and revenue of 21.81B. Therefore, the gross margin over that period was 19.4%.
CNQ.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported an operating income of 2.67B and revenue of 10.81B, resulting in an operating margin of 24.7%.
ATD.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alimentation Couche-Tard Inc. reported an operating income of 1.15B and revenue of 21.81B, resulting in an operating margin of 5.3%.
CNQ.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a net income of 1.35B and revenue of 10.81B, resulting in a net margin of 12.5%.
ATD.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alimentation Couche-Tard Inc. reported a net income of 757.20M and revenue of 21.81B, resulting in a net margin of 3.5%.
Frequently Asked Questions
CNQ.TO and ATD.TO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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