EMA-PC.TO vs. CNQ.TO
EMA-PC.TO (Emera Incorporated) and CNQ.TO (Canadian Natural Resources Limited) are both stocks. EMA-PC.TO operates in Utilities - Regulated Electric (Utilities), while CNQ.TO operates in Oil & Gas E&P (Energy). Over the past 10 years, EMA-PC.TO returned 10.07%/yr vs 23.50%/yr for CNQ.TO. Their 0.10 correlation means their historical movements had little consistent relationship.
Performance
EMA-PC.TO vs. CNQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, EMA-PC.TO achieves a 7.94% return, which is significantly lower than CNQ.TO's 46.50% return. Over the past 10 years, EMA-PC.TO has underperformed CNQ.TO with an annualized return of 10.07%, while CNQ.TO has yielded a comparatively higher 23.50% annualized return.
EMA-PC.TO
- 1D
- 0.62%
- 1M
- 3.25%
- 6M
- 6.86%
- YTD
- 7.94%
- 1Y
- 13.39%
- 3Y*
- 16.02%
- 5Y*
- 8.31%
- 10Y*
- 10.07%
- ALL TIME*
- 5.97%
CNQ.TO
- 1D
- 0.85%
- 1M
- 17.82%
- 6M
- 34.52%
- YTD
- 46.50%
- 1Y
- 63.65%
- 3Y*
- 25.25%
- 5Y*
- 37.54%
- 10Y*
- 23.50%
- ALL TIME*
- 18.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$386.04M | CA$702.51M | CA$836.89M | |
EMA-PC.TO Emera Incorporated | CA$74.31K | CA$156.56K | CA$154.27K |
EMA-PC.TO vs. CNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMA-PC.TO Emera Incorporated | 7.94% | 15.47% | 23.62% | 16.61% | -18.92% | 44.17% | 3.84% | -7.46% | -8.81% | 17.30% |
CNQ.TO Canadian Natural Resources Limited | 46.50% | 10.42% | 8.27% | 26.98% | 63.10% | 91.26% | -12.94% | 38.84% | -21.36% | 10.89% |
Correlation
The correlation between EMA-PC.TO and CNQ.TO is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2012 | 0.10 |
The correlation between EMA-PC.TO and CNQ.TO shifts across timeframes, from -0.04 (1 year) to 0.13 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
EMA-PC.TO:
CA$18.30B
CNQ.TO:
CA$139.28B
EMA-PC.TO:
CA$3.55
CNQ.TO:
CA$4.66
EMA-PC.TO:
7.36
CNQ.TO:
14.34
EMA-PC.TO:
0.23
CNQ.TO:
0.69
EMA-PC.TO:
0.97
CNQ.TO:
3.51
EMA-PC.TO:
0.62
CNQ.TO:
3.14
EMA-PC.TO:
CA$8.11B
CNQ.TO:
CA$39.61B
EMA-PC.TO:
CA$1.43B
CNQ.TO:
CA$12.42B
EMA-PC.TO:
CA$2.23B
CNQ.TO:
CA$17.78B
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Return for Risk
EMA-PC.TO vs. CNQ.TO — Risk / Return Rank
EMA-PC.TO
CNQ.TO
EMA-PC.TO vs. CNQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Emera Incorporated (EMA-PC.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.
| EMA-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.33 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.32 | 3.20 | +2.12 |
| Martin ratioReturn relative to average drawdown | 20.27 | 8.76 | +11.51 |
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Drawdowns
EMA-PC.TO vs. CNQ.TO - Drawdown Comparison
The maximum EMA-PC.TO drawdown since its inception was -45.60%, smaller than the maximum CNQ.TO drawdown of -74.63%. Use the drawdown chart below to compare losses from any high point for EMA-PC.TO and CNQ.TO.
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Drawdown Indicators
| EMA-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.60% | -74.63% | +29.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -18.68% | +15.88% |
Max Drawdown (3Y)Largest decline over 3 years | -12.62% | -33.12% | +20.50% |
Max Drawdown (5Y)Largest decline over 5 years | -26.10% | -33.12% | +7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -45.60% | -74.63% | +29.03% |
Current DrawdownCurrent decline from peak | 0.00% | -2.83% | +2.83% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -17.64% | +8.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 6.85% | -6.12% |
Volatility
EMA-PC.TO vs. CNQ.TO - Volatility Comparison
The current volatility for Emera Incorporated (EMA-PC.TO) is 2.65%, while Canadian Natural Resources Limited (CNQ.TO) has a volatility of 9.48%. This indicates that EMA-PC.TO experiences smaller price fluctuations and is considered to be less risky 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
| EMA-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 9.48% | -6.83% |
Volatility (6M)Calculated over the trailing 6-month period | 5.00% | 23.84% | -18.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.41% | 30.05% | -22.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.70% | 30.67% | -15.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.50% | 38.15% | -21.65% |
Dividends
EMA-PC.TO vs. CNQ.TO - Dividend Comparison
EMA-PC.TO's dividend yield for the trailing twelve months is around 7.69%, more than CNQ.TO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 3.63% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
EMA-PC.TO Emera Incorporated | 6.16% | 6.34% | 6.85% | 6.29% | 6.29% | 4.83% | 6.60% | 6.40% | 5.02% | 4.22% | 4.73% | 5.20% |
Financials
EMA-PC.TO vs. CNQ.TO - Financials Comparison
This section allows you to compare key financial metrics between Emera Incorporated 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
EMA-PC.TO vs. CNQ.TO - Profitability Comparison
EMA-PC.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Emera Incorporated reported a gross profit of 755.00M and revenue of 2.47B. Therefore, the gross margin over that period was 30.5%.
CNQ.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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%.
EMA-PC.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Emera Incorporated reported an operating income of 625.00M and revenue of 2.47B, resulting in an operating margin of 25.3%.
CNQ.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 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%.
EMA-PC.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Emera Incorporated reported a net income of 582.00M and revenue of 2.47B, resulting in a net margin of 23.5%.
CNQ.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 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
EMA-PC.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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