CNQ vs. EPD
CNQ (Canadian Natural Resources Limited) and EPD (Enterprise Products Partners L.P.) are both stocks. Both are in the Energy sector — CNQ in Oil & Gas E&P, EPD in Oil & Gas Midstream. Over the past 10 years, CNQ returned 18.22%/yr vs 10.45%/yr for EPD. At a 0.41 correlation, their price movements are largely independent.
Performance
CNQ vs. EPD - Performance Comparison
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Returns By Period
In the year-to-date period, CNQ achieves a 37.99% return, which is significantly higher than EPD's 20.66% return. Over the past 10 years, CNQ has outperformed EPD with an annualized return of 18.22%, while EPD has yielded a comparatively lower 10.45% annualized return.
CNQ
- 1D
- 1.29%
- 1M
- 3.95%
- YTD
- 37.99%
- 6M
- 38.89%
- 1Y
- 53.83%
- 3Y*
- 23.71%
- 5Y*
- 26.79%
- 10Y*
- 18.22%
EPD
- 1D
- -0.77%
- 1M
- 0.89%
- YTD
- 20.66%
- 6M
- 18.26%
- 1Y
- 27.33%
- 3Y*
- 21.14%
- 5Y*
- 16.72%
- 10Y*
- 10.45%
CNQ vs. EPD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 37.99% | 15.58% | -1.31% | 23.72% | 42.82% | 83.55% | -19.06% | 39.72% | -29.92% | 15.97% |
EPD Enterprise Products Partners L.P. | 20.66% | 9.45% | 28.00% | 17.71% | 18.32% | 21.40% | -23.61% | 21.88% | -1.32% | 4.24% |
Correlation
The correlation between CNQ and EPD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2000 | 0.41 |
The correlation between CNQ and EPD shifts across timeframes, from 0.41 (all time) to 0.52 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CNQ:
$97.03B
EPD:
$82.06B
CNQ:
$4.65
EPD:
$2.69
CNQ:
9.95
EPD:
13.93
CNQ:
0.48
EPD:
2.24
CNQ:
2.37
EPD:
1.59
CNQ:
$40.74B
EPD:
$51.57B
CNQ:
$12.53B
EPD:
$7.31B
CNQ:
$22.99B
EPD:
$10.11B
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Return for Risk
CNQ vs. EPD — Risk / Return Rank
CNQ
EPD
CNQ vs. EPD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ) and Enterprise Products Partners L.P. (EPD). 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 | EPD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.31 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 3.63 | +0.19 |
| Martin ratioReturn relative to average drawdown | 8.73 | 11.00 | -2.27 |
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 | EPD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.74 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.98 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.43 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.54 | -0.13 |
Drawdowns
CNQ vs. EPD - Drawdown Comparison
The maximum CNQ drawdown since its inception was -80.75%, which is greater than EPD's maximum drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for CNQ and EPD.
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Drawdown Indicators
| CNQ | EPD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.75% | -58.78% | -21.97% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -7.56% | -6.60% |
Max Drawdown (3Y)Largest decline over 3 years | -35.85% | -15.40% | -20.45% |
Max Drawdown (5Y)Largest decline over 5 years | -35.85% | -18.06% | -17.79% |
Max Drawdown (10Y)Largest decline over 10 years | -77.84% | -58.04% | -19.80% |
Current DrawdownCurrent decline from peak | -7.60% | -5.73% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -23.52% | -10.13% | -13.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.18% | 2.49% | +3.69% |
Volatility
CNQ vs. EPD - Volatility Comparison
Canadian Natural Resources Limited (CNQ) has a higher volatility of 8.80% compared to Enterprise Products Partners L.P. (EPD) at 6.17%. This indicates that CNQ's price experiences larger fluctuations and is considered to be riskier than EPD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNQ | EPD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.80% | 6.17% | +2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 23.90% | 13.16% | +10.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.96% | 15.81% | +13.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.84% | 17.23% | +15.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.26% | 24.16% | +16.10% |
Dividends
CNQ vs. EPD - Dividend Comparison
CNQ's dividend yield for the trailing twelve months is around 3.76%, less than EPD's 5.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 3.76% | 5.01% | 5.02% | 4.17% | 6.31% | 3.78% | 5.26% | 3.49% | 4.56% | 3.08% | 2.94% | 4.21% |
EPD Enterprise Products Partners L.P. | 5.84% | 6.74% | 6.63% | 7.51% | 7.79% | 8.20% | 9.09% | 6.23% | 6.97% | 6.29% | 5.88% | 5.90% |
Financials
CNQ vs. EPD - Financials Comparison
This section allows you to compare key financial metrics between Canadian Natural Resources Limited and Enterprise Products Partners L.P.. 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 vs. EPD - Profitability Comparison
CNQ - 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 3.48B and revenue of 10.84B. Therefore, the gross margin over that period was 32.1%.
EPD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported a gross profit of 1.88B and revenue of 14.39B. Therefore, the gross margin over that period was 13.1%.
CNQ - 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 2.68B and revenue of 10.84B, resulting in an operating margin of 24.7%.
EPD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported an operating income of 1.82B and revenue of 14.39B, resulting in an operating margin of 12.6%.
CNQ - 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 10.84B, resulting in a net margin of 12.5%.
EPD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported a net income of 1.48B and revenue of 14.39B, resulting in a net margin of 10.3%.
Frequently Asked Questions
CNQ and EPD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNQ has higher volatility (8.80%) compared to EPD (6.17%). In terms of maximum drawdown, CNQ dropped -80.75% vs EPD's -58.78%.
CNQ currently has the higher Sharpe Ratio (1.87 vs 1.74), 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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