CSU.TO vs. CNQ.TO
CSU.TO (Constellation Software Inc.) and CNQ.TO (Canadian Natural Resources Limited) are both stocks. CSU.TO operates in Software - Application (Technology), while CNQ.TO operates in Oil & Gas E&P (Energy). Over the past 10 years, CSU.TO returned 19.62%/yr vs 23.43%/yr for CNQ.TO. At a 0.10 correlation, their price movements are largely independent.
Performance
CSU.TO vs. CNQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CSU.TO achieves a -11.38% return, which is significantly lower than CNQ.TO's 37.61% return. Over the past 10 years, CSU.TO has underperformed CNQ.TO with an annualized return of 19.62%, while CNQ.TO has yielded a comparatively higher 23.43% annualized return.
CSU.TO
- 1D
- -4.38%
- 1M
- 11.93%
- YTD
- -11.38%
- 6M
- -10.91%
- 1Y
- -39.36%
- 3Y*
- 2.22%
- 5Y*
- 10.64%
- 10Y*
- 19.62%
CNQ.TO
- 1D
- -0.19%
- 1M
- -4.06%
- YTD
- 37.61%
- 6M
- 40.79%
- 1Y
- 43.07%
- 3Y*
- 27.02%
- 5Y*
- 33.86%
- 10Y*
- 23.43%
CSU.TO vs. CNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSU.TO Constellation Software Inc. | -11.38% | -25.63% | 35.48% | 55.70% | -9.70% | 42.28% | 31.55% | 47.35% | 15.20% | 25.68% |
CNQ.TO Canadian Natural Resources Limited | 37.61% | 10.42% | 8.27% | 26.98% | 63.10% | 91.26% | -12.94% | 38.84% | -21.36% | 10.89% |
Correlation
The correlation between CSU.TO and CNQ.TO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.10 |
The correlation between CSU.TO and CNQ.TO shifts across timeframes, from -0.04 (1 year) to 0.11 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
CSU.TO:
CA$61.96B
CNQ.TO:
CA$132.89B
CSU.TO:
$34.85
CNQ.TO:
CA$4.65
CSU.TO:
60.01
CNQ.TO:
13.64
CSU.TO:
3.15
CNQ.TO:
0.66
CSU.TO:
3.65
CNQ.TO:
3.34
CSU.TO:
11.40
CNQ.TO:
2.98
CSU.TO:
$12.15B
CNQ.TO:
CA$39.61B
CSU.TO:
$5.28B
CNQ.TO:
CA$12.42B
CSU.TO:
$3.23B
CNQ.TO:
CA$17.78B
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Return for Risk
CSU.TO vs. CNQ.TO — Risk / Return Rank
CSU.TO
CNQ.TO
CSU.TO vs. CNQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Constellation Software Inc. (CSU.TO) and Canadian Natural Resources Limited (CNQ.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.
| CSU.TO | CNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.53 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.28 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 3.12 | -3.86 |
| Martin ratioReturn relative to average drawdown | -1.13 | 7.98 | -9.11 |
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Drawdowns
CSU.TO vs. CNQ.TO - Drawdown Comparison
The maximum CSU.TO drawdown since its inception was -56.38%, smaller than the maximum CNQ.TO drawdown of -74.63%. Use the drawdown chart below to compare losses from any high point for CSU.TO and CNQ.TO.
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Drawdown Indicators
| CSU.TO | CNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.38% | -74.63% | +18.25% |
Max Drawdown (1Y)Largest decline over 1 year | -55.16% | -15.33% | -39.83% |
Max Drawdown (3Y)Largest decline over 3 years | -56.38% | -33.12% | -23.26% |
Max Drawdown (5Y)Largest decline over 5 years | -56.38% | -33.12% | -23.26% |
Max Drawdown (10Y)Largest decline over 10 years | -56.38% | -74.63% | +18.25% |
Current DrawdownCurrent decline from peak | -43.48% | -8.72% | -34.76% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -17.63% | +10.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.99% | 5.98% | +30.01% |
Volatility
CSU.TO vs. CNQ.TO - Volatility Comparison
Constellation Software Inc. (CSU.TO) has a higher volatility of 14.21% compared to Canadian Natural Resources Limited (CNQ.TO) at 8.91%. This indicates that CSU.TO's price experiences larger fluctuations and is considered to be riskier than CNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSU.TO | CNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.21% | 8.91% | +5.30% |
Volatility (6M)Calculated over the trailing 6-month period | 34.06% | 24.23% | +9.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.43% | 28.98% | +12.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.53% | 30.61% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.44% | 38.12% | -10.68% |
Dividends
CSU.TO vs. CNQ.TO - Dividend Comparison
CSU.TO's dividend yield for the trailing twelve months is around 0.19%, less than CNQ.TO's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 2.84% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
CSU.TO Constellation Software Inc. | 0.19% | 0.17% | 0.12% | 0.16% | 0.24% | 0.17% | 0.32% | 1.85% | 0.50% | 0.57% | 0.71% | 0.81% |
Financials
CSU.TO vs. CNQ.TO - Financials Comparison
This section allows you to compare key financial metrics between Constellation Software Inc. 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
CSU.TO vs. CNQ.TO - Profitability Comparison
CSU.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Constellation Software Inc. reported a gross profit of 731.81M and revenue of 3.13B. Therefore, the gross margin over that period was 23.4%.
CNQ.TO - 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 3.47B and revenue of 10.81B. Therefore, the gross margin over that period was 32.1%.
CSU.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Constellation Software Inc. reported an operating income of 451.48M and revenue of 3.13B, resulting in an operating margin of 14.4%.
CNQ.TO - 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 2.67B and revenue of 10.81B, resulting in an operating margin of 24.7%.
CSU.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Constellation Software Inc. reported a net income of 360.99M and revenue of 3.13B, resulting in a net margin of 11.5%.
CNQ.TO - 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 10.81B, resulting in a net margin of 12.5%.
Frequently Asked Questions
CSU.TO and CNQ.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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