CRC vs. CNQ
CRC (California Resources Corporation) and CNQ (Canadian Natural Resources Limited) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 5 years, CRC returned 12.66%/yr vs 22.89%/yr for CNQ. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
CRC vs. CNQ - Performance Comparison
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Returns By Period
In the year-to-date period, CRC achieves a 21.07% return, which is significantly higher than CNQ's 18.69% return.
CRC
- 1D
- 0.98%
- 1M
- -13.32%
- YTD
- 21.07%
- 6M
- 22.91%
- 1Y
- 20.32%
- 3Y*
- 11.05%
- 5Y*
- 12.66%
- 10Y*
- —
CNQ
- 1D
- -4.00%
- 1M
- -18.09%
- YTD
- 18.69%
- 6M
- 21.86%
- 1Y
- 30.84%
- 3Y*
- 19.39%
- 5Y*
- 22.89%
- 10Y*
- 15.89%
CRC vs. CNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CRC California Resources Corporation | 21.07% | -10.78% | -2.57% | 28.85% | 3.69% | 81.82% | 18.25% |
CNQ Canadian Natural Resources Limited | 18.69% | 15.58% | -1.31% | 23.72% | 42.82% | 83.55% | 48.64% |
Correlation
The correlation between CRC and CNQ is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020 | 0.59 |
The correlation between CRC and CNQ has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.
Fundamentals
CRC:
$4.17
CNQ:
CA$4.65
CRC:
12.81
CNQ:
12.03
CRC:
1.34
CNQ:
2.87
CRC:
$3.48B
CNQ:
CA$40.74B
CRC:
$1.30B
CNQ:
CA$12.53B
CRC:
$1.34B
CNQ:
CA$22.99B
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Return for Risk
CRC vs. CNQ — Risk / Return Rank
CRC
CNQ
CRC vs. CNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for California Resources Corporation (CRC) and Canadian Natural Resources Limited (CNQ). 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.
| CRC | CNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.19 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 1.51 | -0.66 |
| Martin ratioReturn relative to average drawdown | 1.68 | 5.57 | -3.89 |
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Drawdowns
CRC vs. CNQ - Drawdown Comparison
The maximum CRC drawdown since its inception was -44.75%, smaller than the maximum CNQ drawdown of -80.75%. Use the drawdown chart below to compare losses from any high point for CRC and CNQ.
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Drawdown Indicators
| CRC | CNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.75% | -80.75% | +36.00% |
Max Drawdown (1Y)Largest decline over 1 year | -24.06% | -20.52% | -3.54% |
Max Drawdown (3Y)Largest decline over 3 years | -44.75% | -35.85% | -8.90% |
Max Drawdown (5Y)Largest decline over 5 years | -44.75% | -35.85% | -8.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.84% | — |
Current DrawdownCurrent decline from peak | -23.32% | -20.52% | -2.80% |
Average DrawdownAverage peak-to-trough decline | -11.98% | -23.51% | +11.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.10% | 5.55% | +6.55% |
Volatility
CRC vs. CNQ - Volatility Comparison
California Resources Corporation (CRC) has a higher volatility of 10.82% compared to Canadian Natural Resources Limited (CNQ) at 9.73%. This indicates that CRC's price experiences larger fluctuations and is considered to be riskier than CNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRC | CNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.82% | 9.73% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 27.40% | 24.57% | +2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.83% | 29.30% | +6.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.48% | 32.84% | +7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.65% | 40.26% | +4.39% |
Dividends
CRC vs. CNQ - Dividend Comparison
CRC's dividend yield for the trailing twelve months is around 3.00%, less than CNQ's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 4.48% | 5.01% | 5.02% | 4.17% | 6.31% | 3.78% | 5.26% | 3.49% | 4.56% | 3.08% | 2.94% | 4.21% |
CRC California Resources Corporation | 3.00% | 3.51% | 2.69% | 2.12% | 1.82% | 0.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CRC vs. CNQ - Financials Comparison
This section allows you to compare key financial metrics between California Resources Corporation and Canadian Natural Resources Limited. 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
CRC vs. CNQ - Profitability Comparison
CRC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, California Resources Corporation reported a gross profit of 309.00M and revenue of 871.00M. Therefore, the gross margin over that period was 35.5%.
CNQ - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a gross profit of 3.48B and revenue of 10.84B. Therefore, the gross margin over that period was 32.1%.
CRC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, California Resources Corporation reported an operating income of 159.00M and revenue of 871.00M, resulting in an operating margin of 18.3%.
CNQ - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported an operating income of 2.68B and revenue of 10.84B, resulting in an operating margin of 24.7%.
CRC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, California Resources Corporation reported a net income of 12.00M and revenue of 871.00M, resulting in a net margin of 1.4%.
CNQ - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a net income of 1.35B and revenue of 10.84B, resulting in a net margin of 12.5%.
Frequently Asked Questions
CRC and CNQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRC has higher volatility (10.82%) compared to CNQ (9.73%). In terms of maximum drawdown, CRC dropped -44.75% vs CNQ's -80.75%.
CNQ currently has the higher Sharpe Ratio (1.06 vs 0.57), 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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