CP.TO vs. TRP.TO
CP.TO (Canadian Pacific Railway Limited) and TRP.TO (TC Energy Corporation) are both stocks. CP.TO operates in Railroads (Industrials), while TRP.TO operates in Oil & Gas Midstream (Energy). Over the past 10 years, CP.TO returned 17.88%/yr vs 11.53%/yr for TRP.TO. At a 0.30 correlation, their price movements are largely independent.
Performance
CP.TO vs. TRP.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 lower than TRP.TO's 29.69% return. Over the past 10 years, CP.TO has outperformed TRP.TO with an annualized return of 17.88%, while TRP.TO has yielded a comparatively lower 11.53% annualized return.
CP.TO
- 1D
- 0.95%
- 1M
- 7.59%
- YTD
- 24.83%
- 6M
- 22.32%
- 1Y
- 16.23%
- 3Y*
- 7.91%
- 5Y*
- 6.01%
- 10Y*
- 17.88%
TRP.TO
- 1D
- 0.20%
- 1M
- 3.23%
- YTD
- 29.69%
- 6M
- 31.68%
- 1Y
- 50.78%
- 3Y*
- 28.32%
- 5Y*
- 14.85%
- 10Y*
- 11.53%
CP.TO vs. TRP.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% |
TRP.TO TC Energy Corporation | 29.69% | 18.35% | 37.67% | 2.53% | -2.77% | 20.34% | -20.74% | 48.49% | -16.01% | 5.23% |
Correlation
The correlation between CP.TO and TRP.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.30 |
Fundamentals
CP.TO:
CA$112.95B
TRP.TO:
CA$101.12B
CP.TO:
CA$4.49
TRP.TO:
CA$3.31
CP.TO:
28.03
TRP.TO:
29.36
CP.TO:
11.78
TRP.TO:
0.39
CP.TO:
7.63
TRP.TO:
6.41
CP.TO:
2.43
TRP.TO:
4.00
CP.TO:
CA$14.98B
TRP.TO:
CA$15.76B
CP.TO:
CA$6.94B
TRP.TO:
CA$8.07B
CP.TO:
CA$8.23B
TRP.TO:
CA$10.90B
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Return for Risk
CP.TO vs. TRP.TO — Risk / Return Rank
CP.TO
TRP.TO
CP.TO vs. TRP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Railway Limited (CP.TO) and TC Energy Corporation (TRP.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 | TRP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -3.09 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.48 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 5.65 | -4.54 |
| Martin ratioReturn relative to average drawdown | 1.98 | 16.62 | -14.64 |
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Drawdowns
CP.TO vs. TRP.TO - Drawdown Comparison
The maximum CP.TO drawdown since its inception was -58.01%, which is greater than TRP.TO's maximum drawdown of -36.30%. Use the drawdown chart below to compare losses from any high point for CP.TO and TRP.TO.
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Drawdown Indicators
| CP.TO | TRP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.01% | -36.30% | -21.71% |
Max Drawdown (1Y)Largest decline over 1 year | -13.60% | -8.75% | -4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.60% | -15.48% | -6.12% |
Max Drawdown (5Y)Largest decline over 5 years | -21.60% | -34.02% | +12.42% |
Max Drawdown (10Y)Largest decline over 10 years | -27.38% | -36.30% | +8.92% |
Current DrawdownCurrent decline from peak | -0.29% | -0.88% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -10.27% | -8.45% | -1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.56% | 3.08% | +4.48% |
Volatility
CP.TO vs. TRP.TO - Volatility Comparison
Canadian Pacific Railway Limited (CP.TO) and TC Energy Corporation (TRP.TO) have volatilities of 5.36% and 5.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CP.TO | TRP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 5.44% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 12.67% | +4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.98% | 16.90% | +5.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.24% | 19.65% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.70% | 23.23% | +0.47% |
Dividends
CP.TO vs. TRP.TO - Dividend Comparison
CP.TO's dividend yield for the trailing twelve months is around 0.72%, less than TRP.TO's 3.53% 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% |
TRP.TO TC Energy Corporation | 3.53% | 4.50% | 5.40% | 6.71% | 6.67% | 5.92% | 6.26% | 4.34% | 5.66% | 4.09% | 3.73% | 4.60% |
Financials
CP.TO vs. TRP.TO - Financials Comparison
This section allows you to compare key financial metrics between Canadian Pacific Railway Limited 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
CP.TO vs. TRP.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%.
TRP.TO - 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 2.40B and revenue of 4.23B. Therefore, the gross margin over that period was 56.7%.
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%.
TRP.TO - 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 4.23B, resulting in an operating margin of 52.1%.
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%.
TRP.TO - 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 927.00M and revenue of 4.23B, resulting in a net margin of 21.9%.
Frequently Asked Questions
CP.TO and TRP.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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