CNQ.TO vs. CU.TO
CNQ.TO (Canadian Natural Resources Limited) and CU.TO (Canadian Utilities Limited) are both stocks. CNQ.TO operates in Oil & Gas E&P (Energy), while CU.TO operates in Utilities - Diversified (Utilities). Over the past 10 years, CNQ.TO returned 18.64%/yr vs 7.99%/yr for CU.TO. At a 0.12 correlation, their price movements are largely independent.
Performance
CNQ.TO vs. CU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNQ.TO achieves a 44.04% return, which is significantly higher than CU.TO's 20.03% return. Over the past 10 years, CNQ.TO has outperformed CU.TO with an annualized return of 18.64%, while CU.TO has yielded a comparatively lower 7.99% annualized return.
CNQ.TO
- 1D
- 1.47%
- 1M
- 2.49%
- YTD
- 44.04%
- 6M
- 42.39%
- 1Y
- 61.44%
- 3Y*
- 26.69%
- 5Y*
- 30.24%
- 10Y*
- 18.64%
CU.TO
- 1D
- 1.93%
- 1M
- 4.21%
- YTD
- 20.03%
- 6M
- 22.58%
- 1Y
- 36.66%
- 3Y*
- 17.09%
- 5Y*
- 12.76%
- 10Y*
- 7.99%
CNQ.TO vs. CU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 44.04% | 10.42% | 7.11% | 21.06% | 49.65% | 82.41% | -20.75% | 32.78% | -24.17% | 7.75% |
CU.TO Canadian Utilities Limited | 20.03% | 28.76% | 15.61% | -8.23% | 4.73% | 24.14% | -16.53% | 31.01% | -12.18% | 7.28% |
Correlation
The correlation between CNQ.TO and CU.TO is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 1989 | 0.12 |
Fundamentals
CNQ.TO:
CA$139.10B
CU.TO:
CA$13.72B
CNQ.TO:
CA$4.65
CU.TO:
CA$0.39
CNQ.TO:
14.27
CU.TO:
127.93
CNQ.TO:
3.50
CU.TO:
3.71
CNQ.TO:
3.12
CU.TO:
2.74
CNQ.TO:
CA$39.61B
CU.TO:
CA$3.69B
CNQ.TO:
CA$12.42B
CU.TO:
CA$905.00M
CNQ.TO:
CA$17.78B
CU.TO:
CA$1.82B
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Return for Risk
CNQ.TO vs. CU.TO — Risk / Return Rank
CNQ.TO
CU.TO
CNQ.TO vs. CU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ.TO) and Canadian Utilities Limited (CU.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.
| CNQ.TO | CU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.52 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 5.09 | -1.06 |
| Martin ratioReturn relative to average drawdown | 10.58 | 17.50 | -6.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNQ.TO | CU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 2.80 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.88 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.44 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.47 | +0.17 |
Drawdowns
CNQ.TO vs. CU.TO - Drawdown Comparison
The maximum CNQ.TO drawdown since its inception was -76.20%, which is greater than CU.TO's maximum drawdown of -40.15%. Use the drawdown chart below to compare losses from any high point for CNQ.TO and CU.TO.
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Drawdown Indicators
| CNQ.TO | CU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.20% | -40.15% | -36.05% |
Max Drawdown (1Y)Largest decline over 1 year | -15.33% | -7.24% | -8.09% |
Max Drawdown (3Y)Largest decline over 3 years | -33.11% | -20.26% | -12.85% |
Max Drawdown (5Y)Largest decline over 5 years | -33.11% | -27.67% | -5.44% |
Max Drawdown (10Y)Largest decline over 10 years | -76.20% | -40.15% | -36.05% |
Current DrawdownCurrent decline from peak | -4.46% | -0.65% | -3.81% |
Average DrawdownAverage peak-to-trough decline | -18.90% | -9.28% | -9.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.83% | 2.16% | +3.67% |
Volatility
CNQ.TO vs. CU.TO - Volatility Comparison
Canadian Natural Resources Limited (CNQ.TO) has a higher volatility of 9.61% compared to Canadian Utilities Limited (CU.TO) at 4.32%. This indicates that CNQ.TO's price experiences larger fluctuations and is considered to be riskier than CU.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 | CU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.61% | 4.32% | +5.29% |
Volatility (6M)Calculated over the trailing 6-month period | 23.71% | 10.44% | +13.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.67% | 13.15% | +15.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.46% | 14.52% | +15.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.03% | 18.42% | +19.61% |
Dividends
CNQ.TO vs. CU.TO - Dividend Comparison
CNQ.TO's dividend yield for the trailing twelve months is around 3.60%, less than CU.TO's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 3.60% | 5.06% | 4.82% | 4.26% | 6.12% | 3.66% | 5.44% | 3.50% | 3.98% | 2.40% | 2.15% | 3.02% |
CU.TO Canadian Utilities Limited | 3.66% | 4.29% | 5.20% | 5.63% | 4.85% | 4.80% | 5.60% | 4.32% | 5.02% | 3.83% | 3.59% | 3.69% |
Financials
CNQ.TO vs. CU.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Natural Resources Limited and Canadian Utilities Limited. 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. CU.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%.
CU.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Utilities Limited reported a gross profit of 474.00M and revenue of 1.08B. Therefore, the gross margin over that period was 43.7%.
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%.
CU.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Utilities Limited reported an operating income of 393.00M and revenue of 1.08B, resulting in an operating margin of 36.3%.
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%.
CU.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Utilities Limited reported a net income of 224.00M and revenue of 1.08B, resulting in a net margin of 20.7%.
Frequently Asked Questions
CNQ.TO and CU.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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