CP vs. ETN
CP (Canadian Pacific Railway Limited) and ETN (Eaton Corporation plc) are both stocks. Both are in the Industrials sector — CP in Railroads, ETN in Specialty Industrial Machinery. Over the past 10 years, CP returned 14.53%/yr vs 23.38%/yr for ETN. At a 0.37 correlation, their price movements are largely independent.
Performance
CP vs. ETN - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CP having a 22.60% return and ETN slightly higher at 23.61%. Over the past 10 years, CP has underperformed ETN with an annualized return of 14.53%, while ETN has yielded a comparatively higher 23.38% annualized return.
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%
ETN
- 1D
- -0.57%
- 1M
- -3.82%
- YTD
- 23.61%
- 6M
- 18.59%
- 1Y
- 19.85%
- 3Y*
- 28.04%
- 5Y*
- 23.65%
- 10Y*
- 23.38%
CP vs. ETN - 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% |
ETN Eaton Corporation plc | 23.61% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
Correlation
The correlation between CP and ETN is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1983 | 0.37 |
The correlation between CP and ETN shifts across timeframes, from 0.30 (1 year) to 0.45 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
CP:
$80.83B
ETN:
$152.33B
CP:
$4.47
ETN:
$10.22
CP:
20.16
ETN:
38.28
CP:
8.47
ETN:
2.08
CP:
5.49
ETN:
5.36
CP:
1.70
ETN:
7.71
CP:
$14.98B
ETN:
$28.52B
CP:
$8.47B
ETN:
$7.87B
CP:
$8.30B
ETN:
$4.75B
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Return for Risk
CP vs. ETN — Risk / Return Rank
CP
ETN
CP vs. ETN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Railway Limited (CP) and Eaton Corporation plc (ETN). 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 | ETN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.13 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.04 | -0.30 |
| Martin ratioReturn relative to average drawdown | 1.41 | 2.25 | -0.83 |
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Drawdowns
CP vs. ETN - Drawdown Comparison
The maximum CP drawdown since its inception was -69.17%, roughly equal to the maximum ETN drawdown of -68.95%. Use the drawdown chart below to compare losses from any high point for CP and ETN.
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Drawdown Indicators
| CP | ETN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.17% | -68.95% | -0.22% |
Max Drawdown (1Y)Largest decline over 1 year | -16.23% | -19.14% | +2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -25.88% | -34.46% | +8.58% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -34.46% | +8.58% |
Max Drawdown (10Y)Largest decline over 10 years | -33.70% | -44.55% | +10.85% |
Current DrawdownCurrent decline from peak | -1.29% | -9.36% | +8.07% |
Average DrawdownAverage peak-to-trough decline | -20.29% | -14.89% | -5.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 8.86% | -0.36% |
Volatility
CP vs. ETN - Volatility Comparison
The current volatility for Canadian Pacific Railway Limited (CP) is 5.88%, while Eaton Corporation plc (ETN) has a volatility of 13.57%. This indicates that CP experiences smaller price fluctuations and is considered to be less risky than ETN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CP | ETN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 13.57% | -7.69% |
Volatility (6M)Calculated over the trailing 6-month period | 17.25% | 26.78% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.48% | 33.48% | -11.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.45% | 30.24% | -5.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.60% | 30.10% | -4.50% |
Dividends
CP vs. ETN - Dividend Comparison
CP's dividend yield for the trailing twelve months is around 0.74%, less than ETN's 1.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ETN Eaton Corporation plc | 1.09% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
Financials
CP vs. ETN - Financials Comparison
This section allows you to compare key financial metrics between Canadian Pacific Railway Limited and Eaton Corporation plc. 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 vs. ETN - Profitability Comparison
CP - 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 2.55B and revenue of 3.70B. Therefore, the gross margin over that period was 69.0%.
ETN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a gross profit of 0.00 and revenue of 7.45B. Therefore, the gross margin over that period was 0.0%.
CP - 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 1.26B and revenue of 3.70B, resulting in an operating margin of 34.0%.
ETN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported an operating income of 0.00 and revenue of 7.45B, resulting in an operating margin of 0.0%.
CP - 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%.
ETN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a net income of 866.00M and revenue of 7.45B, resulting in a net margin of 11.6%.
Frequently Asked Questions
CP and ETN have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETN has higher volatility (13.57%) compared to CP (5.88%). In terms of maximum drawdown, CP dropped -69.17% vs ETN's -68.95%.
ETN currently has the higher Sharpe Ratio (0.60 vs 0.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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