GFL vs. CNI
GFL (GFL Environmental Inc.) and CNI (Canadian National Railway Company) are both stocks. Both are in the Industrials sector — GFL in Waste Management, CNI in Railroads. Over the past 5 years, GFL returned 1.78%/yr vs 3.84%/yr for CNI. At a 0.30 correlation, their price movements are largely independent.
Performance
GFL vs. CNI - Performance Comparison
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Returns By Period
In the year-to-date period, GFL achieves a -18.68% return, which is significantly lower than CNI's 22.98% return.
GFL
- 1D
- -1.72%
- 1M
- -5.01%
- YTD
- -18.68%
- 6M
- -21.93%
- 1Y
- -29.67%
- 3Y*
- -2.02%
- 5Y*
- 1.78%
- 10Y*
- —
CNI
- 1D
- 0.36%
- 1M
- 8.21%
- YTD
- 22.98%
- 6M
- 24.55%
- 1Y
- 18.14%
- 3Y*
- 4.05%
- 5Y*
- 3.84%
- 10Y*
- 9.46%
GFL vs. CNI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GFL GFL Environmental Inc. | -18.68% | -3.44% | 29.26% | 18.24% | -22.65% | 29.88% | 67.01% |
CNI Canadian National Railway Company | 22.98% | -0.10% | -17.51% | 7.84% | -1.86% | 13.70% | 29.63% |
Correlation
The correlation between GFL and CNI is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2020 | 0.30 |
Over the past year, the correlation between GFL and CNI has dropped to 0.09 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.
Fundamentals
GFL:
$12.51B
CNI:
$73.92B
GFL:
$0.57
CNI:
$7.60
GFL:
61.76
CNI:
15.90
GFL:
1.92
CNI:
4.33
GFL:
1.71
CNI:
3.44
GFL:
$6.70B
CNI:
$17.29B
GFL:
$1.38B
CNI:
$7.64B
GFL:
$2.14B
CNI:
$8.60B
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Return for Risk
GFL vs. CNI — Risk / Return Rank
GFL
CNI
GFL vs. CNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GFL Environmental Inc. (GFL) and Canadian National Railway Company (CNI). 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.
| GFL | CNI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.88 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.16 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 1.29 | -2.16 |
| Martin ratioReturn relative to average drawdown | -1.94 | 2.37 | -4.30 |
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
| GFL | CNI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.17 | 0.83 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.17 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.59 | -0.20 |
Drawdowns
GFL vs. CNI - Drawdown Comparison
The maximum GFL drawdown since its inception was -42.76%, smaller than the maximum CNI drawdown of -46.66%. Use the drawdown chart below to compare losses from any high point for GFL and CNI.
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Drawdown Indicators
| GFL | CNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -46.66% | +3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -34.20% | -14.15% | -20.05% |
Max Drawdown (3Y)Largest decline over 3 years | -34.88% | -29.14% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -42.76% | -29.14% | -13.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.15% | — |
Current DrawdownCurrent decline from peak | -32.24% | -4.61% | -27.63% |
Average DrawdownAverage peak-to-trough decline | -14.37% | -9.50% | -4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.34% | 7.68% | +7.66% |
Volatility
GFL vs. CNI - Volatility Comparison
GFL Environmental Inc. (GFL) has a higher volatility of 7.69% compared to Canadian National Railway Company (CNI) at 4.06%. This indicates that GFL's price experiences larger fluctuations and is considered to be riskier than CNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GFL | CNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 4.06% | +3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 21.41% | 17.25% | +4.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.46% | 21.95% | +3.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.80% | 22.38% | +7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.96% | 22.69% | +10.27% |
Dividends
GFL vs. CNI - Dividend Comparison
GFL's dividend yield for the trailing twelve months is around 0.18%, less than CNI's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNI Canadian National Railway Company | 2.16% | 2.58% | 2.43% | 1.85% | 1.41% | 1.61% | 1.59% | 1.79% | 2.01% | 2.00% | 2.23% | 2.24% |
GFL GFL Environmental Inc. | 0.18% | 0.14% | 0.12% | 0.15% | 0.16% | 0.11% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
GFL vs. CNI - Financials Comparison
This section allows you to compare key financial metrics between GFL Environmental Inc. and Canadian National Railway Company. 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
GFL vs. CNI - Profitability Comparison
GFL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a gross profit of 300.57M and revenue of 1.65B. Therefore, the gross margin over that period was 18.2%.
CNI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian National Railway Company reported a gross profit of 1.88B and revenue of 4.39B. Therefore, the gross margin over that period was 42.8%.
GFL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported an operating income of 34.09M and revenue of 1.65B, resulting in an operating margin of 2.1%.
CNI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian National Railway Company reported an operating income of 1.55B and revenue of 4.39B, resulting in an operating margin of 35.4%.
GFL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a net income of -216.26M and revenue of 1.65B, resulting in a net margin of -13.1%.
CNI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian National Railway Company reported a net income of 1.15B and revenue of 4.39B, resulting in a net margin of 26.2%.
Frequently Asked Questions
GFL and CNI have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GFL has higher volatility (7.69%) compared to CNI (4.06%). In terms of maximum drawdown, GFL dropped -42.76% vs CNI's -46.66%.
CNI currently has the higher Sharpe Ratio (0.83 vs -1.17), 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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