LB.TO vs. ^TNX

Last updated Jun 5, 2026

LB.TO (Laurentian Bank of Canada) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, LB.TO returned 2.91%/yr vs 10.92%/yr for ^TNX. At a 0.14 correlation, their price movements are largely independent.

Performance

LB.TO vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Laurentian Bank of Canada (LB.TO) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LB.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, LB.TO achieves a 2.37% return, which is significantly lower than ^TNX's 9.01% return. Over the past 10 years, LB.TO has underperformed ^TNX with an annualized return of 2.91%, while ^TNX has yielded a comparatively higher 10.92% annualized return.

LB.TO

• 1D: -0.15%
• 1M: -0.00%
• YTD: 2.37%
• 6M: 3.50%
• 1Y: 42.16%
• 3Y*: 15.01%
• 5Y*: 3.82%
• 10Y*: 2.91%

^TNX

• 1D: -0.22%
• 1M: 4.85%
• YTD: 9.01%
• 6M: 8.90%
• 1Y: 3.64%
• 3Y*: 7.84%
• 5Y*: 27.02%
• 10Y*: 10.92%

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

LB.TO vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LB.TO Laurentian Bank of Canada	2.37%	48.25%	11.70%	-9.82%	-15.45%	33.94%	-25.22%	23.86%	-28.54%	2.23%
^TNX Treasury Yield 10 Years	9.01%	-13.14%	28.45%	-2.53%	174.83%	63.40%	-53.02%	-32.07%	21.16%	-7.94%

Correlation

The correlation between LB.TO and ^TNX is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009	0.14

The correlation between LB.TO and ^TNX shifts across timeframes, from -0.12 (3 years) to 0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LB.TO vs. ^TNX — Risk / Return Rank

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

LB.TO

LB.TO Risk / Return Rank: 96
LB.TO Sharpe Ratio Rank: 88
LB.TO Sortino Ratio Rank: 98
LB.TO Omega Ratio Rank: 98
LB.TO Calmar Ratio Rank: 97
LB.TO Martin Ratio Rank: 98

^TNX

^TNX Risk / Return Rank: 19
^TNX Sharpe Ratio Rank: 20
^TNX Sortino Ratio Rank: 19
^TNX Omega Ratio Rank: 18
^TNX Calmar Ratio Rank: 20
^TNX Martin Ratio Rank: 19

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.

LB.TO vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Laurentian Bank of Canada (LB.TO) and Treasury Yield 10 Years (^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.

	LB.TO	^TNX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	0.26	+1.72
Sortino ratio: Return per unit of downside risk	5.49	0.49	+5.00
Omega ratio: Gain probability vs. loss probability	1.92	1.05	+0.86
Calmar ratio: Return relative to maximum drawdown	10.78	0.35	+10.43
Martin ratio: Return relative to average drawdown	36.19	0.69	+35.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LB.TO vs. ^TNX - Sharpe Ratio Comparison

The current LB.TO Sharpe Ratio is 1.97, which is higher than the ^TNX Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of LB.TO and ^TNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LB.TO	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	0.26	+1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.81	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.23	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.05	+0.23

Drawdowns

LB.TO vs. ^TNX - Drawdown Comparison

The maximum LB.TO drawdown since its inception was -56.22%, smaller than the maximum ^TNX drawdown of -83.97%. Use the drawdown chart below to compare losses from any high point for LB.TO and ^TNX.

Drawdown Indicators

	LB.TO	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-56.22%	-83.97%	+27.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.87%	-12.47%	+8.60%
Max Drawdown (3Y) Largest decline over 3 years	-41.38%	-28.10%	-13.28%
Max Drawdown (5Y) Largest decline over 5 years	-41.38%	-28.10%	-13.28%
Max Drawdown (10Y) Largest decline over 10 years	-49.49%	-83.93%	+34.44%
Current Drawdown Current decline from peak	-0.40%	-9.83%	+9.43%
Average Drawdown Average peak-to-trough decline	-17.92%	-32.53%	+14.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	6.24%	-5.09%

Volatility

LB.TO vs. ^TNX - Volatility Comparison

The current volatility for Laurentian Bank of Canada (LB.TO) is 0.71%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.34%. This indicates that LB.TO experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LB.TO	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	5.34%	-4.63%
Volatility (6M) Calculated over the trailing 6-month period	1.95%	11.64%	-9.69%
Volatility (1Y) Calculated over the trailing 1-year period	21.16%	17.05%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.44%	33.37%	-6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.04%	48.25%	-22.21%

Frequently Asked Questions

Can I hold both LB.TO and ^TNX in my portfolio?

LB.TO and ^TNX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.