FSV.TO vs. ^TNX
FSV.TO (FirstService Corporation) is a stock, while ^TNX (Cboe 10-Year Treasury Note Yield Index) is an index. Over the past 10 years, FSV.TO returned 14.11%/yr vs 12.12%/yr for ^TNX. At a correlation of -0.02, they often move in opposite directions.
Performance
FSV.TO vs. ^TNX - Performance Comparison
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Different Trading Currencies
FSV.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FSV.TO achieves a -2.89% return, which is significantly lower than ^TNX's 13.07% return. Over the past 10 years, FSV.TO has outperformed ^TNX with an annualized return of 14.11%, while ^TNX has yielded a comparatively lower 12.12% annualized return.
FSV.TO
- 1D
- -0.89%
- 1M
- 7.29%
- 6M
- -8.62%
- YTD
- -2.89%
- 1Y
- -14.83%
- 3Y*
- 0.48%
- 5Y*
- -1.75%
- 10Y*
- 14.11%
- ALL TIME*
- 23.21%
^TNX
- 1D
- 1.13%
- 1M
- 2.71%
- 6M
- 9.70%
- YTD
- 13.07%
- 1Y
- 5.88%
- 3Y*
- 8.44%
- 5Y*
- 31.77%
- 10Y*
- 12.12%
- ALL TIME*
- 0.48%
FSV.TO vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSV.TO FirstService Corporation | -2.89% | -17.49% | 22.03% | 30.24% | -32.91% | 43.20% | 44.98% | 29.71% | 7.20% | 38.84% |
^TNX Cboe 10-Year Treasury Note Yield Index | 13.07% | -13.12% | 28.30% | -2.71% | 172.80% | 64.80% | -53.35% | -31.50% | 21.07% | -8.33% |
Correlation
The correlation between FSV.TO and ^TNX is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since May 27, 2015 | -0.02 |
Over the past year, the inverse relationship between FSV.TO and ^TNX has strengthened: their correlation has moved from -0.02 to -0.25, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FSV.TO vs. ^TNX — Risk / Return Rank
FSV.TO
^TNX
FSV.TO vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FirstService Corporation (FSV.TO) and Cboe 10-Year Treasury Note Yield Index (^TNX). 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.
| FSV.TO | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.07 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 0.56 | -0.93 |
| Martin ratioReturn relative to average drawdown | -0.59 | 1.23 | -1.82 |
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Drawdowns
FSV.TO vs. ^TNX - Drawdown Comparison
The maximum FSV.TO drawdown since its inception was -42.79%, smaller than the maximum ^TNX drawdown of -89.94%. Use the drawdown chart below to compare losses from any high point for FSV.TO and ^TNX.
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Drawdown Indicators
| FSV.TO | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.79% | -89.94% | +47.15% |
Max Drawdown (1Y)Largest decline over 1 year | -40.26% | -10.53% | -29.73% |
Max Drawdown (3Y)Largest decline over 3 years | -40.26% | -28.13% | -12.13% |
Max Drawdown (5Y)Largest decline over 5 years | -42.58% | -28.13% | -14.45% |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | -83.97% | +41.18% |
Current DrawdownCurrent decline from peak | -27.83% | -6.90% | -20.93% |
Average DrawdownAverage peak-to-trough decline | -11.70% | -44.63% | +32.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.06% | 5.15% | +19.91% |
Volatility
FSV.TO vs. ^TNX - Volatility Comparison
FirstService Corporation (FSV.TO) has a higher volatility of 8.24% compared to Cboe 10-Year Treasury Note Yield Index (^TNX) at 4.38%. This indicates that FSV.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSV.TO | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 4.38% | +3.86% |
Volatility (6M)Calculated over the trailing 6-month period | 21.86% | 11.80% | +10.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.09% | 15.46% | +13.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.42% | 32.06% | -7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.15% | 48.34% | -22.19% |
Frequently Asked Questions
FSV.TO and ^TNX have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for FSV.TO and ^TNX
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