INE.TO vs. CU.TO

Last updated Jun 5, 2026

INE.TO (Innergex Renewable Energy Inc.) and CU.TO (Canadian Utilities Limited) are both stocks. Both are in the Utilities sector — INE.TO in Utilities - Renewable, CU.TO in Utilities - Diversified. At a 0.23 correlation, their price movements are largely independent.

Performance

INE.TO vs. CU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Innergex Renewable Energy Inc. (INE.TO) and Canadian Utilities Limited (CU.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

INE.TO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CU.TO

• 1D: 0.58%
• 1M: 4.38%
• YTD: 20.72%
• 6M: 23.14%
• 1Y: 38.79%
• 3Y*: 17.66%
• 5Y*: 12.89%
• 10Y*: 8.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

INE.TO vs. CU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INE.TO Innergex Renewable Energy Inc.	0.00%	72.95%	-8.83%	-39.57%	-9.29%	-29.60%	67.90%	40.94%	-8.26%	7.44%
CU.TO Canadian Utilities Limited	20.72%	28.76%	15.61%	-8.23%	4.73%	24.14%	-16.53%	31.01%	-12.18%	7.28%

Correlation

The correlation between INE.TO and CU.TO is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Dec 7, 2007	0.23

The correlation between INE.TO and CU.TO shifts across timeframes, from -0.08 (1 year) to 0.26 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Total Revenue (TTM) INE.TO : CA$995.52M CU.TO : CA$3.69B
Gross Profit (TTM) INE.TO : CA$1.10B CU.TO : CA$905.00M
EBITDA (TTM) INE.TO : CA$745.05M CU.TO : CA$1.82B

Return for Risk

INE.TO vs. CU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CU.TO

CU.TO Risk / Return Rank: 94
CU.TO Sharpe Ratio Rank: 94
CU.TO Sortino Ratio Rank: 95
CU.TO Omega Ratio Rank: 94
CU.TO Calmar Ratio Rank: 92
CU.TO Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INE.TO vs. CU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innergex Renewable Energy Inc. (INE.TO) and Canadian Utilities Limited (CU.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	INE.TO	CU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.97	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.47	—

Drawdowns

Drawdown Indicators

	INE.TO	CU.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-40.15%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.24%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.15%	—
Current Drawdown Current decline from peak	—	-0.08%	—
Average Drawdown Average peak-to-trough decline	—	-9.28%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.10%	—

Volatility

Volatility by Period

	INE.TO	CU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.16%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.52%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.41%	—

Dividends

INE.TO vs. CU.TO - Dividend Comparison

INE.TO's dividend yield for the trailing twelve months is around 0.66%, less than CU.TO's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CU.TO Canadian Utilities Limited	3.64%	4.29%	5.20%	5.63%	4.85%	4.80%	5.60%	4.32%	5.02%	3.83%	3.59%	3.69%
INE.TO Innergex Renewable Energy Inc.	0.66%	1.31%	4.47%	7.83%	4.44%	3.87%	2.63%	4.21%	5.42%	4.58%	4.56%	5.47%

Financials

Frequently Asked Questions

Can I hold both INE.TO and CU.TO in my portfolio?

INE.TO and CU.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.