CP vs. CN

Last updated Jun 24, 2026

CP (Canadian Pacific Kansas City Limited) is a stock, while CN (Xtrackers MSCI All China Equity ETF) is China Equities fund tracking the MSCI China All Shares. At a 0.27 correlation, their price movements are largely independent.

Performance

CP vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canadian Pacific Kansas City Limited (CP) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CP

• 1D: -0.44%
• 1M: -1.12%
• YTD: 16.08%
• 6M: 15.06%
• 1Y: 7.77%
• 3Y*: 2.94%
• 5Y*: 3.06%
• 10Y*: 14.18%

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CP vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CP Canadian Pacific Kansas City Limited	16.08%	2.60%	-7.84%	6.85%	4.71%	4.64%	37.33%	45.04%	-1.81%	29.32%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	43.69%

Correlation

The correlation between CP and CN is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 30, 2014	0.27

The correlation between CP and CN shifts across timeframes, from 0.16 (3 years) to 0.28 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

CP vs. CN — Risk / Return Rank

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

CP

CP Risk / Return Rank: 51
CP Sharpe Ratio Rank: 54
CP Sortino Ratio Rank: 48
CP Omega Ratio Rank: 45
CP Calmar Ratio Rank: 54
CP Martin Ratio Rank: 53

CN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Kansas City Limited (CP) and Xtrackers MSCI All China Equity ETF (CN). 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	CN	Difference
Sharpe ratio: Return per unit of total volatility	0.34	—	—
Sortino ratio: Return per unit of downside risk	0.67	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.48	—	—
Martin ratio: Return relative to average drawdown	0.91	—	—

Drawdowns

Drawdown Indicators

	CP	CN	Difference
Max Drawdown Largest peak-to-trough decline	-69.17%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-16.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.70%	—	—
Current Drawdown Current decline from peak	-6.54%	—	—
Average Drawdown Average peak-to-trough decline	-20.28%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	8.52%	—	—

Volatility

Volatility by Period

	CP	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.71%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.55%	—	—

Dividends

CP vs. CN - Dividend Comparison

CP's dividend yield for the trailing twelve months is around 0.78%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
CP Canadian Pacific Kansas City Limited	0.78%	0.86%	0.76%	0.78%	0.96%	0.84%	0.76%	0.93%	1.07%	0.92%	0.98%	0.98%

Frequently Asked Questions

Can I hold both CP and CN in my portfolio?

CP and CN have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.