CNQ.TO vs. BANK.TO
CNQ.TO (Canadian Natural Resources Limited) is a stock, while BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) is Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. Over the past 3 years, CNQ.TO returned 24.46%/yr vs 36.19%/yr for BANK.TO. At a 0.21 correlation, their price movements are largely independent.
Performance
CNQ.TO vs. BANK.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CNQ.TO having a 34.74% return and BANK.TO slightly lower at 34.14%.
CNQ.TO
- 1D
- 2.03%
- 1M
- 3.86%
- 6M
- 31.07%
- YTD
- 34.74%
- 1Y
- 50.86%
- 3Y*
- 24.46%
- 5Y*
- 35.48%
- 10Y*
- 21.68%
BANK.TO
- 1D
- 0.00%
- 1M
- 5.97%
- 6M
- 31.83%
- YTD
- 34.14%
- 1Y
- 70.27%
- 3Y*
- 36.19%
- 5Y*
- —
- 10Y*
- —
CNQ.TO vs. BANK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 34.74% | 10.42% | 8.27% | 26.98% | 31.02% |
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund | 34.14% | 41.00% | 27.90% | 16.23% | -20.47% |
Correlation
The correlation between CNQ.TO and BANK.TO is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.21 |
The correlation between CNQ.TO and BANK.TO shifts across timeframes, from -0.20 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNQ.TO vs. BANK.TO — Risk / Return Rank
CNQ.TO
BANK.TO
CNQ.TO vs. BANK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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 | BANK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.83 | ||
| Sortino ratioReturn per unit of downside risk | -5.15 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 2.02 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 8.54 | -5.80 |
| Martin ratioReturn relative to average drawdown | 7.50 | 37.73 | -30.22 |
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Drawdowns
CNQ.TO vs. BANK.TO - Drawdown Comparison
The maximum CNQ.TO drawdown since its inception was -74.63%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for CNQ.TO and BANK.TO.
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Drawdown Indicators
| CNQ.TO | BANK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.63% | -29.03% | -45.60% |
Max Drawdown (1Y)Largest decline over 1 year | -18.68% | -8.27% | -10.41% |
Max Drawdown (3Y)Largest decline over 3 years | -33.12% | -15.49% | -17.63% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -74.63% | — | — |
Current DrawdownCurrent decline from peak | -10.63% | -0.08% | -10.55% |
Average DrawdownAverage peak-to-trough decline | -17.65% | -8.56% | -9.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.80% | 1.87% | +4.93% |
Volatility
CNQ.TO vs. BANK.TO - Volatility Comparison
Canadian Natural Resources Limited (CNQ.TO) has a higher volatility of 8.68% compared to Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) at 3.88%. This indicates that CNQ.TO's price experiences larger fluctuations and is considered to be riskier than BANK.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 | BANK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.68% | 3.88% | +4.80% |
Volatility (6M)Calculated over the trailing 6-month period | 23.33% | 10.98% | +12.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.35% | 12.68% | +16.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.61% | 15.62% | +14.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.12% | 15.62% | +22.50% |
Dividends
CNQ.TO vs. BANK.TO - Dividend Comparison
CNQ.TO's dividend yield for the trailing twelve months is around 3.95%, less than BANK.TO's 11.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund | 11.71% | 13.73% | 15.28% | 13.60% | 10.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CNQ.TO Canadian Natural Resources Limited | 3.95% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
Frequently Asked Questions
CNQ.TO and BANK.TO have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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