CNX vs. TRP
CNX (CNX Resources Corporation) and TRP (TC Energy Corporation) are both stocks. Both are in the Energy sector — CNX in Oil & Gas E&P, TRP in Oil & Gas Midstream. Over the past 10 years, CNX returned 8.23%/yr vs 11.91%/yr for TRP. At a 0.31 correlation, their price movements are largely independent.
Performance
CNX vs. TRP - Performance Comparison
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Returns By Period
In the year-to-date period, CNX achieves a -7.45% return, which is significantly lower than TRP's 26.61% return. Over the past 10 years, CNX has underperformed TRP with an annualized return of 8.23%, while TRP has yielded a comparatively higher 11.91% annualized return.
CNX
- 1D
- 1.37%
- 1M
- -10.49%
- YTD
- -7.45%
- 6M
- -15.75%
- 1Y
- 9.07%
- 3Y*
- 29.01%
- 5Y*
- 19.24%
- 10Y*
- 8.23%
TRP
- 1D
- 1.70%
- 1M
- 4.08%
- YTD
- 26.61%
- 6M
- 28.49%
- 1Y
- 40.52%
- 3Y*
- 30.83%
- 5Y*
- 14.71%
- 10Y*
- 11.91%
CNX vs. TRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNX CNX Resources Corporation | -7.45% | 0.27% | 83.35% | 18.76% | 22.47% | 27.31% | 22.03% | -22.50% | -21.94% | -19.75% |
TRP TC Energy Corporation | 26.61% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
Correlation
The correlation between CNX and TRP is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 3, 1999 | 0.31 |
Over the past year, the correlation between CNX and TRP has dropped to 0.05 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
CNX:
$9.47
TRP:
$3.31
CNX:
3.59
TRP:
20.85
CNX:
0.00
TRP:
0.29
CNX:
1.74
TRP:
4.55
CNX:
$2.43B
TRP:
$15.76B
CNX:
$1.17B
TRP:
$8.07B
CNX:
$2.24B
TRP:
$10.90B
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Return for Risk
CNX vs. TRP — Risk / Return Rank
CNX
TRP
CNX vs. TRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CNX Resources Corporation (CNX) and TC Energy Corporation (TRP). 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.
| CNX | TRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.73 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.38 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 4.22 | -3.80 |
| Martin ratioReturn relative to average drawdown | 0.89 | 10.86 | -9.97 |
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
| CNX | TRP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 2.27 | -1.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.68 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.48 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.47 | -0.33 |
Drawdowns
CNX vs. TRP - Drawdown Comparison
The maximum CNX drawdown since its inception was -95.41%, which is greater than TRP's maximum drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for CNX and TRP.
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Drawdown Indicators
| CNX | TRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.41% | -62.52% | -32.89% |
Max Drawdown (1Y)Largest decline over 1 year | -21.80% | -9.65% | -12.15% |
Max Drawdown (3Y)Largest decline over 3 years | -33.37% | -17.66% | -15.71% |
Max Drawdown (5Y)Largest decline over 5 years | -38.23% | -37.05% | -1.18% |
Max Drawdown (10Y)Largest decline over 10 years | -77.19% | -41.64% | -35.55% |
Current DrawdownCurrent decline from peak | -68.64% | -2.76% | -65.88% |
Average DrawdownAverage peak-to-trough decline | -58.16% | -11.73% | -46.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.27% | 3.74% | +6.53% |
Volatility
CNX vs. TRP - Volatility Comparison
CNX Resources Corporation (CNX) has a higher volatility of 7.87% compared to TC Energy Corporation (TRP) at 5.98%. This indicates that CNX's price experiences larger fluctuations and is considered to be riskier than TRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNX | TRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.87% | 5.98% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 21.98% | 13.43% | +8.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.92% | 17.91% | +12.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.42% | 21.86% | +13.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.48% | 24.85% | +23.63% |
Dividends
CNX vs. TRP - Dividend Comparison
CNX has not paid dividends to shareholders, while TRP's dividend yield for the trailing twelve months is around 3.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNX CNX Resources Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 1.84% |
TRP TC Energy Corporation | 3.60% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
CNX vs. TRP - Financials Comparison
This section allows you to compare key financial metrics between CNX Resources Corporation and TC Energy Corporation. 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
CNX vs. TRP - Profitability Comparison
CNX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CNX Resources Corporation reported a gross profit of 0.00 and revenue of 786.65M. Therefore, the gross margin over that period was 0.0%.
TRP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.41B and revenue of 4.24B. Therefore, the gross margin over that period was 56.7%.
CNX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CNX Resources Corporation reported an operating income of 2.03M and revenue of 786.65M, resulting in an operating margin of 0.3%.
TRP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.24B, resulting in an operating margin of 52.1%.
CNX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CNX Resources Corporation reported a net income of 348.15M and revenue of 786.65M, resulting in a net margin of 44.3%.
TRP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 929.40M and revenue of 4.24B, resulting in a net margin of 21.9%.
Frequently Asked Questions
CNX and TRP have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNX has higher volatility (7.87%) compared to TRP (5.98%). In terms of maximum drawdown, CNX dropped -95.41% vs TRP's -62.52%.
TRP currently has the higher Sharpe Ratio (2.27 vs 0.31), 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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