COST.TO vs. PANW

Last updated Jun 5, 2026

COST.TO (Costco CDR (CAD Hedged)) and PANW (Palo Alto Networks, Inc.) are both stocks. COST.TO operates in Discount Stores (Consumer Defensive), while PANW operates in Software - Infrastructure (Technology). Over the past 3 years, COST.TO returned 22.67%/yr vs 36.04%/yr for PANW. At a 0.27 correlation, their price movements are largely independent.

Performance

COST.TO vs. PANW - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Costco CDR (CAD Hedged) (COST.TO) and Palo Alto Networks, Inc. (PANW). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

COST.TO is traded in CAD, while PANW is traded in USD. To make them comparable, the PANW values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, COST.TO achieves a 12.19% return, which is significantly lower than PANW's 50.02% return.

COST.TO

• 1D: 1.14%
• 1M: -2.40%
• YTD: 12.19%
• 6M: 7.87%
• 1Y: -5.33%
• 3Y*: 22.67%
• 5Y*: —
• 10Y*: —

PANW

• 1D: -2.37%
• 1M: 51.42%
• YTD: 50.02%
• 6M: 38.04%
• 1Y: 40.69%
• 3Y*: 36.04%
• 5Y*: 39.46%
• 10Y*: 29.25%

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

COST.TO vs. PANW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
COST.TO Costco CDR (CAD Hedged)	12.19%	-7.82%	37.46%	47.35%	-20.01%	5.93%
PANW Palo Alto Networks, Inc.	50.02%	-3.41%	34.02%	106.67%	-19.45%	3.99%

Correlation

The correlation between COST.TO and PANW is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021	0.27

The correlation between COST.TO and PANW shifts across timeframes, from -0.04 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COST.TO vs. PANW — Risk / Return Rank

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

COST.TO

COST.TO Risk / Return Rank: 20
COST.TO Sharpe Ratio Rank: 21
COST.TO Sortino Ratio Rank: 19
COST.TO Omega Ratio Rank: 20
COST.TO Calmar Ratio Rank: 24
COST.TO Martin Ratio Rank: 17

PANW

PANW Risk / Return Rank: 65
PANW Sharpe Ratio Rank: 72
PANW Sortino Ratio Rank: 65
PANW Omega Ratio Rank: 65
PANW Calmar Ratio Rank: 63
PANW Martin Ratio Rank: 63

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.

COST.TO vs. PANW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Costco CDR (CAD Hedged) (COST.TO) and Palo Alto Networks, Inc. (PANW). 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.

	COST.TO	PANW	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	1.07	-1.53
Sortino ratio: Return per unit of downside risk	-0.54	1.57	-2.11
Omega ratio: Gain probability vs. loss probability	0.94	1.21	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.52	1.10	-1.62
Martin ratio: Return relative to average drawdown	-1.16	2.48	-3.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COST.TO vs. PANW - Sharpe Ratio Comparison

The current COST.TO Sharpe Ratio is -0.46, which is lower than the PANW Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of COST.TO and PANW, 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

	COST.TO	PANW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.46	1.07	-1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.80	-0.22

Drawdowns

COST.TO vs. PANW - Drawdown Comparison

The maximum COST.TO drawdown since its inception was -31.60%, smaller than the maximum PANW drawdown of -44.80%. Use the drawdown chart below to compare losses from any high point for COST.TO and PANW.

Drawdown Indicators

	COST.TO	PANW	Difference
Max Drawdown Largest peak-to-trough decline	-31.60%	-44.80%	+13.20%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-37.14%	+20.07%
Max Drawdown (3Y) Largest decline over 3 years	-22.42%	-37.14%	+14.72%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.87%	—
Current Drawdown Current decline from peak	-11.76%	-8.83%	-2.93%
Average Drawdown Average peak-to-trough decline	-10.19%	-14.25%	+4.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.26%	16.44%	-6.18%

Volatility

COST.TO vs. PANW - Volatility Comparison

The current volatility for Costco CDR (CAD Hedged) (COST.TO) is 9.04%, while Palo Alto Networks, Inc. (PANW) has a volatility of 17.36%. This indicates that COST.TO experiences smaller price fluctuations and is considered to be less risky than PANW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COST.TO	PANW	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.04%	17.36%	-8.32%
Volatility (6M) Calculated over the trailing 6-month period	15.17%	31.64%	-16.47%
Volatility (1Y) Calculated over the trailing 1-year period	19.27%	38.20%	-18.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.52%	40.88%	-17.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.52%	37.89%	-14.37%

Dividends

COST.TO vs. PANW - Dividend Comparison

COST.TO's dividend yield for the trailing twelve months is around 0.56%, while PANW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
COST.TO Costco CDR (CAD Hedged)	0.56%	0.59%	0.50%	2.88%	0.76%
PANW Palo Alto Networks, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both COST.TO and PANW in my portfolio?

COST.TO and PANW have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.