EMA.TO vs. TA.TO
EMA.TO (Emera Incorporated) and TA.TO (TransAlta Corporation) are both stocks. Both are in the Utilities sector — EMA.TO in Utilities - Regulated Electric, TA.TO in Utilities - Independent Power Producers. Over the past 10 years, EMA.TO returned 9.55%/yr vs 13.86%/yr for TA.TO. At a 0.23 correlation, their price movements are largely independent.
Performance
EMA.TO vs. TA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, EMA.TO achieves a 6.65% return, which is significantly lower than TA.TO's 16.51% return. Over the past 10 years, EMA.TO has underperformed TA.TO with an annualized return of 9.55%, while TA.TO has yielded a comparatively higher 13.86% annualized return.
EMA.TO
- 1D
- -0.45%
- 1M
- -1.26%
- YTD
- 6.65%
- 6M
- 7.72%
- 1Y
- 18.49%
- 3Y*
- 13.93%
- 5Y*
- 10.08%
- 10Y*
- 9.55%
TA.TO
- 1D
- 1.26%
- 1M
- 17.50%
- YTD
- 16.51%
- 6M
- 3.56%
- 1Y
- 42.93%
- 3Y*
- 16.94%
- 5Y*
- 13.80%
- 10Y*
- 13.86%
EMA.TO vs. TA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMA.TO Emera Incorporated | 6.65% | 31.95% | 14.84% | 2.50% | -14.32% | 22.34% | 1.29% | 33.72% | -1.79% | 8.30% |
TA.TO TransAlta Corporation | 16.51% | -13.24% | 88.48% | -7.32% | -12.42% | 47.57% | 6.20% | 69.12% | -23.22% | 2.43% |
Correlation
The correlation between EMA.TO and TA.TO is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 1992 | 0.23 |
The correlation between EMA.TO and TA.TO shifts across timeframes, from -0.03 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
Fundamentals
EMA.TO:
CA$21.49B
TA.TO:
CA$5.96B
EMA.TO:
CA$3.56
TA.TO:
-CA$0.57
EMA.TO:
2.62
TA.TO:
2.73
EMA.TO:
1.68
TA.TO:
12.83
EMA.TO:
CA$8.11B
TA.TO:
CA$2.21B
EMA.TO:
CA$1.43B
TA.TO:
CA$716.00M
EMA.TO:
CA$2.23B
TA.TO:
CA$511.00M
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Return for Risk
EMA.TO vs. TA.TO — Risk / Return Rank
EMA.TO
TA.TO
EMA.TO vs. TA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Emera Incorporated (EMA.TO) and TransAlta Corporation (TA.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.
| EMA.TO | TA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 1.26 | +2.04 |
| Martin ratioReturn relative to average drawdown | 8.43 | 2.15 | +6.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMA.TO | TA.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.16 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.43 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.44 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.17 | +0.47 |
Drawdowns
EMA.TO vs. TA.TO - Drawdown Comparison
The maximum EMA.TO drawdown since its inception was -35.98%, smaller than the maximum TA.TO drawdown of -84.12%. Use the drawdown chart below to compare losses from any high point for EMA.TO and TA.TO.
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Drawdown Indicators
| EMA.TO | TA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.98% | -84.12% | +48.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.63% | -34.12% | +28.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.39% | -44.20% | +23.81% |
Max Drawdown (5Y)Largest decline over 5 years | -26.95% | -44.20% | +17.25% |
Max Drawdown (10Y)Largest decline over 10 years | -29.73% | -50.61% | +20.88% |
Current DrawdownCurrent decline from peak | -4.72% | -18.15% | +13.43% |
Average DrawdownAverage peak-to-trough decline | -6.04% | -30.49% | +24.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 20.02% | -17.79% |
Volatility
EMA.TO vs. TA.TO - Volatility Comparison
The current volatility for Emera Incorporated (EMA.TO) is 4.29%, while TransAlta Corporation (TA.TO) has a volatility of 6.08%. This indicates that EMA.TO experiences smaller price fluctuations and is considered to be less risky than TA.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.TO | TA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 6.08% | -1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 10.22% | 26.11% | -15.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 37.38% | -24.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 32.06% | -16.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.43% | 31.98% | -14.55% |
Dividends
EMA.TO vs. TA.TO - Dividend Comparison
EMA.TO's dividend yield for the trailing twelve months is around 4.14%, more than TA.TO's 1.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMA.TO Emera Incorporated | 4.14% | 4.30% | 6.71% | 5.54% | 5.18% | 4.08% | 4.58% | 4.26% | 5.22% | 4.54% | 4.40% | 3.85% |
TA.TO TransAlta Corporation | 1.32% | 1.47% | 1.18% | 2.00% | 1.69% | 1.32% | 1.75% | 1.72% | 2.86% | 2.15% | 2.15% | 14.66% |
Financials
EMA.TO vs. TA.TO - Financials Comparison
This section allows you to compare key financial metrics between Emera Incorporated and TransAlta Corporation. 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.TO vs. TA.TO - Profitability Comparison
EMA.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 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%.
TA.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TransAlta Corporation reported a gross profit of 243.00M and revenue of 565.00M. Therefore, the gross margin over that period was 43.0%.
EMA.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Emera Incorporated reported an operating income of 625.00M and revenue of 2.47B, resulting in an operating margin of 25.3%.
TA.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TransAlta Corporation reported an operating income of 24.00M and revenue of 565.00M, resulting in an operating margin of 4.3%.
EMA.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Emera Incorporated reported a net income of 582.00M and revenue of 2.47B, resulting in a net margin of 23.5%.
TA.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TransAlta Corporation reported a net income of 13.00M and revenue of 565.00M, resulting in a net margin of 2.3%.
Frequently Asked Questions
EMA.TO and TA.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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