CNQ vs. NFE

Last updated Jun 4, 2026

CNQ (Canadian Natural Resources Limited) and NFE (New Fortress Energy Inc.) are both stocks. CNQ operates in Oil & Gas E&P (Energy), while NFE operates in Utilities - Regulated Gas (Utilities). Over the past 5 years, CNQ returned 27.16%/yr vs -57.16%/yr for NFE. At a 0.34 correlation, their price movements are largely independent.

Performance

CNQ vs. NFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canadian Natural Resources Limited (CNQ) and New Fortress Energy Inc. (NFE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNQ achieves a 42.17% return, which is significantly higher than NFE's -56.12% return.

CNQ

• 1D: 1.02%
• 1M: 0.23%
• YTD: 42.17%
• 6M: 42.84%
• 1Y: 59.14%
• 3Y*: 25.18%
• 5Y*: 27.16%
• 10Y*: 18.26%

NFE

• 1D: -3.81%
• 1M: -38.83%
• YTD: -56.12%
• 6M: -63.75%
• 1Y: -81.88%
• 3Y*: -73.98%
• 5Y*: -57.16%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNQ vs. NFE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CNQ Canadian Natural Resources Limited	42.17%	15.58%	-1.31%	23.72%	42.82%	83.55%	-19.06%	25.52%
NFE New Fortress Energy Inc.	-56.12%	-92.46%	-59.24%	-1.71%	77.41%	-54.42%	243.98%	19.89%

Correlation

The correlation between CNQ and NFE is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019	0.34

The correlation between CNQ and NFE shifts across timeframes, from 0.15 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CNQ : $99.96B NFE : $142.33M
EPS CNQ : $4.65 NFE : -$6.58
PS Ratio CNQ : 2.44 NFE : 0.09
PB Ratio CNQ : 2.23 NFE : 0.78
Total Revenue (TTM) CNQ : $40.74B NFE : $1.50B
Gross Profit (TTM) CNQ : $12.53B NFE : $310.12M
EBITDA (TTM) CNQ : $22.99B NFE : -$198.72M

Return for Risk

CNQ vs. NFE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNQ

CNQ Risk / Return Rank: 85
CNQ Sharpe Ratio Rank: 88
CNQ Sortino Ratio Rank: 83
CNQ Omega Ratio Rank: 82
CNQ Calmar Ratio Rank: 88
CNQ Martin Ratio Rank: 86

NFE

NFE Risk / Return Rank: 11
NFE Sharpe Ratio Rank: 14
NFE Sortino Ratio Rank: 12
NFE Omega Ratio Rank: 13
NFE Calmar Ratio Rank: 5
NFE Martin Ratio Rank: 12

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.

CNQ vs. NFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ) and New Fortress Energy Inc. (NFE). 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	NFE	Difference
Sharpe ratio Return per unit of total volatility	2.07	-0.63	+2.70
Sortino ratio Return per unit of downside risk	2.55	-0.95	+3.51
Omega ratio Gain probability vs. loss probability	1.33	0.89	+0.44
Calmar ratio Return relative to maximum drawdown	4.20	-0.92	+5.12
Martin ratio Return relative to average drawdown	9.68	-1.25	+10.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNQ vs. NFE - Sharpe Ratio Comparison

The current CNQ Sharpe Ratio is 2.07, which is higher than the NFE Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of CNQ and NFE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNQ	NFE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	-0.63	+2.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	-0.64	+1.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	-0.42	+0.83

Drawdowns

CNQ vs. NFE - Drawdown Comparison

The maximum CNQ drawdown since its inception was -80.75%, smaller than the maximum NFE drawdown of -99.09%. Use the drawdown chart below to compare losses from any high point for CNQ and NFE.

Drawdown Indicators

	CNQ	NFE	Difference
Max Drawdown Largest peak-to-trough decline	-80.75%	-99.09%	+18.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.16%	-89.05%	+74.89%
Max Drawdown (3Y) Largest decline over 3 years	-35.85%	-98.72%	+62.87%
Max Drawdown (5Y) Largest decline over 5 years	-35.85%	-99.09%	+63.24%
Max Drawdown (10Y) Largest decline over 10 years	-77.84%	—	—
Current Drawdown Current decline from peak	-4.80%	-99.09%	+94.29%
Average Drawdown Average peak-to-trough decline	-23.53%	-46.01%	+22.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.13%	65.43%	-59.30%

Volatility

CNQ vs. NFE - Volatility Comparison

The current volatility for Canadian Natural Resources Limited (CNQ) is 9.27%, while New Fortress Energy Inc. (NFE) has a volatility of 20.11%. This indicates that CNQ experiences smaller price fluctuations and is considered to be less risky than NFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNQ	NFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.27%	20.11%	-10.84%
Volatility (6M) Calculated over the trailing 6-month period	23.57%	68.76%	-45.19%
Volatility (1Y) Calculated over the trailing 1-year period	28.73%	131.28%	-102.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.79%	89.68%	-56.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.27%	83.57%	-43.30%

Dividends

CNQ vs. NFE - Dividend Comparison

CNQ's dividend yield for the trailing twelve months is around 3.65%, while NFE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNQ Canadian Natural Resources Limited	3.65%	5.01%	5.02%	4.17%	6.31%	3.78%	5.26%	3.49%	4.56%	3.08%	2.94%	4.21%
NFE New Fortress Energy Inc.	0.00%	0.00%	1.98%	10.46%	0.94%	1.66%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both CNQ and NFE in my portfolio?

CNQ and NFE have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNQ or NFE?

NFE has higher volatility (20.11%) compared to CNQ (9.27%). In terms of maximum drawdown, CNQ dropped -80.75% vs NFE's -99.09%.

Which has better risk-adjusted returns?

CNQ currently has the higher Sharpe Ratio (2.07 vs -0.63), 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.