CP vs. AIR.PA

Last updated Jun 13, 2026

CP (Canadian Pacific Railway Limited) and AIR.PA (Airbus SE) are both stocks. Both are in the Industrials sector — CP in Railroads, AIR.PA in Aerospace & Defense. Over the past 10 years, CP returned 14.53%/yr vs 15.25%/yr for AIR.PA. At a 0.31 correlation, their price movements are largely independent.

Performance

CP vs. AIR.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canadian Pacific Railway Limited (CP) and Airbus SE (AIR.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CP is traded in USD, while AIR.PA is traded in EUR. To make them comparable, the AIR.PA values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CP achieves a 22.60% return, which is significantly higher than AIR.PA's -9.37% return. Both investments have delivered pretty close results over the past 10 years, with CP having a 14.53% annualized return and AIR.PA not far ahead at 15.25%.

CP

• 1D: 0.86%
• 1M: 5.18%
• YTD: 22.60%
• 6M: 20.36%
• 1Y: 11.97%
• 3Y*: 6.19%
• 5Y*: 3.16%
• 10Y*: 14.53%

AIR.PA

• 1D: 2.19%
• 1M: 2.07%
• YTD: -9.37%
• 6M: -7.28%
• 1Y: 12.03%
• 3Y*: 15.87%
• 5Y*: 10.55%
• 10Y*: 15.25%

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

CP vs. AIR.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CP Canadian Pacific Railway Limited	22.60%	2.60%	-7.84%	6.85%	4.71%	4.64%	37.33%	45.04%	-1.81%	29.32%
AIR.PA Airbus SE	-9.37%	48.67%	5.04%	31.73%	-5.80%	16.62%	-25.10%	54.54%	-1.95%	53.67%

Correlation

The correlation between CP and AIR.PA is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007	0.31

The correlation between CP and AIR.PA shifts across timeframes, from 0.18 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CP vs. AIR.PA — Risk / Return Rank

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

CP

CP Risk / Return Rank: 57
CP Sharpe Ratio Rank: 61
CP Sortino Ratio Rank: 55
CP Omega Ratio Rank: 52
CP Calmar Ratio Rank: 59
CP Martin Ratio Rank: 58

AIR.PA

AIR.PA Risk / Return Rank: 53
AIR.PA Sharpe Ratio Rank: 58
AIR.PA Sortino Ratio Rank: 51
AIR.PA Omega Ratio Rank: 51
AIR.PA Calmar Ratio Rank: 53
AIR.PA Martin Ratio Rank: 54

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.

CP vs. AIR.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Railway Limited (CP) and Airbus SE (AIR.PA). 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	AIR.PA	Difference
Sharpe ratio: Return per unit of total volatility	0.53	0.40	+0.13
Sortino ratio: Return per unit of downside risk	0.94	0.79	+0.16
Omega ratio: Gain probability vs. loss probability	1.11	1.09	+0.01
Calmar ratio: Return relative to maximum drawdown	0.74	0.41	+0.33
Martin ratio: Return relative to average drawdown	1.41	0.96	+0.45

CP vs. AIR.PA - Sharpe Ratio Comparison

The current CP Sharpe Ratio is 0.53, which is higher than the AIR.PA Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of CP and AIR.PA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CP vs. AIR.PA - Drawdown Comparison

The maximum CP drawdown since its inception was -69.17%, roughly equal to the maximum AIR.PA drawdown of -67.91%. Use the drawdown chart below to compare losses from any high point for CP and AIR.PA.

Drawdown Indicators

	CP	AIR.PA	Difference
Max Drawdown Largest peak-to-trough decline	-69.17%	-67.91%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	-16.23%	-28.83%	+12.60%
Max Drawdown (3Y) Largest decline over 3 years	-25.88%	-28.83%	+2.95%
Max Drawdown (5Y) Largest decline over 5 years	-25.88%	-37.45%	+11.57%
Max Drawdown (10Y) Largest decline over 10 years	-33.70%	-65.19%	+31.49%
Current Drawdown Current decline from peak	-1.29%	-17.62%	+16.33%
Average Drawdown Average peak-to-trough decline	-20.29%	-17.60%	-2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.50%	12.40%	-3.90%

Volatility

CP vs. AIR.PA - Volatility Comparison

The current volatility for Canadian Pacific Railway Limited (CP) is 5.88%, while Airbus SE (AIR.PA) has a volatility of 10.95%. This indicates that CP experiences smaller price fluctuations and is considered to be less risky than AIR.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CP	AIR.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	10.95%	-5.07%
Volatility (6M) Calculated over the trailing 6-month period	17.25%	24.38%	-7.13%
Volatility (1Y) Calculated over the trailing 1-year period	22.48%	29.53%	-7.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.45%	30.68%	-6.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.60%	36.03%	-10.43%

Dividends

CP vs. AIR.PA - Dividend Comparison

CP's dividend yield for the trailing twelve months is around 0.74%, less than AIR.PA's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIR.PA Airbus SE	1.78%	1.51%	1.16%	1.29%	1.35%	0.00%	0.00%	1.26%	1.79%	1.63%	2.07%	1.94%
CP Canadian Pacific Railway Limited	0.74%	0.86%	0.76%	0.78%	0.96%	0.84%	0.76%	0.93%	1.07%	0.92%	0.98%	0.98%

Financials

Frequently Asked Questions

Can I hold both CP and AIR.PA in my portfolio?

CP and AIR.PA have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.