CP.TO vs. GRT-UN.TO
CP.TO (Canadian Pacific Railway Limited) and GRT-UN.TO (Granite Real Estate Investment Trust) are both stocks. CP.TO operates in Railroads (Industrials), while GRT-UN.TO operates in REIT - Industrial (Real Estate). Over the past 10 years, CP.TO returned 17.88%/yr vs 14.52%/yr for GRT-UN.TO. At a 0.20 correlation, their price movements are largely independent.
Performance
CP.TO vs. GRT-UN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CP.TO achieves a 24.83% return, which is significantly higher than GRT-UN.TO's 17.52% return. Over the past 10 years, CP.TO has outperformed GRT-UN.TO with an annualized return of 17.88%, while GRT-UN.TO has yielded a comparatively lower 14.52% annualized return.
CP.TO
- 1D
- 0.95%
- 1M
- 7.24%
- YTD
- 24.83%
- 6M
- 22.32%
- 1Y
- 14.97%
- 3Y*
- 7.91%
- 5Y*
- 6.01%
- 10Y*
- 17.88%
GRT-UN.TO
- 1D
- 0.15%
- 1M
- 5.76%
- YTD
- 17.52%
- 6M
- 23.98%
- 1Y
- 37.73%
- 3Y*
- 9.82%
- 5Y*
- 7.16%
- 10Y*
- 14.52%
CP.TO vs. GRT-UN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CP.TO Canadian Pacific Railway Limited | 24.83% | -2.09% | -0.05% | 4.62% | 11.83% | 4.79% | 40.10% | 44.01% | 11.13% | 26.27% |
GRT-UN.TO Granite Real Estate Investment Trust | 17.52% | 22.80% | -4.30% | 15.18% | -31.88% | 40.16% | 22.56% | 29.65% | 14.45% | 15.87% |
Correlation
The correlation between CP.TO and GRT-UN.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.20 |
The correlation between CP.TO and GRT-UN.TO shifts across timeframes, from 0.20 (all time) to 0.34 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
CP.TO:
CA$112.95B
GRT-UN.TO:
CA$5.73B
CP.TO:
CA$4.49
GRT-UN.TO:
CA$6.39
CP.TO:
28.03
GRT-UN.TO:
14.79
CP.TO:
11.78
GRT-UN.TO:
0.91
CP.TO:
7.63
GRT-UN.TO:
9.15
CP.TO:
2.43
GRT-UN.TO:
1.02
CP.TO:
CA$14.98B
GRT-UN.TO:
CA$629.87M
CP.TO:
CA$6.94B
GRT-UN.TO:
CA$517.51M
CP.TO:
CA$8.23B
GRT-UN.TO:
CA$513.85M
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Return for Risk
CP.TO vs. GRT-UN.TO — Risk / Return Rank
CP.TO
GRT-UN.TO
CP.TO vs. GRT-UN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Railway Limited (CP.TO) and Granite Real Estate Investment Trust (GRT-UN.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CP.TO | GRT-UN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.34 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 2.94 | -1.83 |
| Martin ratioReturn relative to average drawdown | 1.98 | 9.53 | -7.54 |
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Drawdowns
CP.TO vs. GRT-UN.TO - Drawdown Comparison
The maximum CP.TO drawdown since its inception was -58.01%, smaller than the maximum GRT-UN.TO drawdown of -87.48%. Use the drawdown chart below to compare losses from any high point for CP.TO and GRT-UN.TO.
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Drawdown Indicators
| CP.TO | GRT-UN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.01% | -87.48% | +29.47% |
Max Drawdown (1Y)Largest decline over 1 year | -13.60% | -12.91% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -21.60% | -27.99% | +6.39% |
Max Drawdown (5Y)Largest decline over 5 years | -21.60% | -37.82% | +16.22% |
Max Drawdown (10Y)Largest decline over 10 years | -27.38% | -44.89% | +17.51% |
Current DrawdownCurrent decline from peak | -0.29% | -2.60% | +2.31% |
Average DrawdownAverage peak-to-trough decline | -10.27% | -16.96% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.56% | 4.02% | +3.54% |
Volatility
CP.TO vs. GRT-UN.TO - Volatility Comparison
The current volatility for Canadian Pacific Railway Limited (CP.TO) is 5.36%, while Granite Real Estate Investment Trust (GRT-UN.TO) has a volatility of 5.69%. This indicates that CP.TO experiences smaller price fluctuations and is considered to be less risky than GRT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CP.TO | GRT-UN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 5.69% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 15.08% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.98% | 19.38% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.24% | 21.88% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.70% | 22.44% | +1.26% |
Dividends
CP.TO vs. GRT-UN.TO - Dividend Comparison
CP.TO's dividend yield for the trailing twelve months is around 0.72%, less than GRT-UN.TO's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CP.TO Canadian Pacific Railway Limited | 0.72% | 0.86% | 0.73% | 0.72% | 0.75% | 1.67% | 4.03% | 4.74% | 5.19% | 4.76% | 4.83% | 3.96% |
GRT-UN.TO Granite Real Estate Investment Trust | 3.68% | 4.18% | 4.74% | 4.21% | 4.50% | 2.86% | 3.43% | 4.25% | 5.69% | 5.31% | 5.42% | 1.62% |
Financials
CP.TO vs. GRT-UN.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Pacific Railway Limited and Granite Real Estate Investment Trust. 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
CP.TO vs. GRT-UN.TO - Profitability Comparison
CP.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Pacific Railway Limited reported a gross profit of 1.36B and revenue of 3.70B. Therefore, the gross margin over that period was 36.8%.
GRT-UN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported a gross profit of 134.27M and revenue of 165.83M. Therefore, the gross margin over that period was 81.0%.
CP.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Pacific Railway Limited reported an operating income of 1.27B and revenue of 3.70B, resulting in an operating margin of 34.2%.
GRT-UN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported an operating income of 122.29M and revenue of 165.83M, resulting in an operating margin of 73.7%.
CP.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Pacific Railway Limited reported a net income of 846.00M and revenue of 3.70B, resulting in a net margin of 22.9%.
GRT-UN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported a net income of 91.25M and revenue of 165.83M, resulting in a net margin of 55.0%.
Frequently Asked Questions
CP.TO and GRT-UN.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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