LIN vs. SOBO.TO

Last updated Jun 13, 2026

LIN (Linde plc) and SOBO.TO (South Bow Corp) are both stocks. LIN operates in Specialty Chemicals (Basic Materials), while SOBO.TO operates in Oil & Gas Midstream (Energy). Over the past year, LIN returned 12.77% vs 50.32% for SOBO.TO. At a 0.09 correlation, their price movements are largely independent.

Performance

LIN vs. SOBO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Linde plc (LIN) and South Bow Corp (SOBO.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LIN is traded in USD, while SOBO.TO is traded in CAD. To make them comparable, the SOBO.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, LIN achieves a 23.59% return, which is significantly lower than SOBO.TO's 40.32% return.

LIN

• 1D: 1.58%
• 1M: 2.33%
• YTD: 23.59%
• 6M: 26.61%
• 1Y: 12.77%
• 3Y*: 13.38%
• 5Y*: 13.98%
• 10Y*: —

SOBO.TO

• 1D: 0.96%
• 1M: 5.83%
• YTD: 40.32%
• 6M: 44.41%
• 1Y: 50.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LIN vs. SOBO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LIN Linde plc	23.59%	3.22%	-12.39%
SOBO.TO South Bow Corp	40.32%	25.61%	15.72%

Correlation

The correlation between LIN and SOBO.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 (All Time) Calculated using the full available price history since Sep 25, 2024	0.09

Fundamentals

Market Cap LIN : $244.15B SOBO.TO : CA$11.12B
EPS LIN : $15.16 SOBO.TO : $2.03
PE Ratio LIN : 34.54 SOBO.TO : 18.81
PEG Ratio LIN : 1.72 SOBO.TO : 3.47
PS Ratio LIN : 7.10 SOBO.TO : 4.37
PB Ratio LIN : 6.33 SOBO.TO : 2.99
Total Revenue (TTM) LIN : $34.66B SOBO.TO : $1.82B
Gross Profit (TTM) LIN : $15.94B SOBO.TO : $893.03M
EBITDA (TTM) LIN : $12.31B SOBO.TO : $851.07M

Return for Risk

LIN vs. SOBO.TO — Risk / Return Rank

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

LIN

LIN Risk / Return Rank: 61
LIN Sharpe Ratio Rank: 67
LIN Sortino Ratio Rank: 60
LIN Omega Ratio Rank: 57
LIN Calmar Ratio Rank: 58
LIN Martin Ratio Rank: 61

SOBO.TO

SOBO.TO Risk / Return Rank: 92
SOBO.TO Sharpe Ratio Rank: 94
SOBO.TO Sortino Ratio Rank: 94
SOBO.TO Omega Ratio Rank: 92
SOBO.TO Calmar Ratio Rank: 91
SOBO.TO Martin Ratio Rank: 91

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.

LIN vs. SOBO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Linde plc (LIN) and South Bow Corp (SOBO.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.

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.

	LIN	SOBO.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.74	2.51	-1.77
Sortino ratio: Return per unit of downside risk	1.16	3.41	-2.25
Omega ratio: Gain probability vs. loss probability	1.13	1.41	-0.27
Calmar ratio: Return relative to maximum drawdown	0.67	3.99	-3.32
Martin ratio: Return relative to average drawdown	1.89	11.40	-9.52

LIN vs. SOBO.TO - Sharpe Ratio Comparison

The current LIN Sharpe Ratio is 0.74, which is lower than the SOBO.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of LIN and SOBO.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LIN vs. SOBO.TO - Drawdown Comparison

The maximum LIN drawdown since its inception was -32.59%, which is greater than SOBO.TO's maximum drawdown of -27.09%. Use the drawdown chart below to compare losses from any high point for LIN and SOBO.TO.

Drawdown Indicators

	LIN	SOBO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-32.59%	-27.09%	-5.50%
Max Drawdown (1Y) Largest decline over 1 year	-19.18%	-12.68%	-6.50%
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.82%	—	—
Current Drawdown Current decline from peak	0.00%	-0.37%	+0.37%
Average Drawdown Average peak-to-trough decline	-5.41%	-4.27%	-1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.79%	4.44%	+2.35%

Volatility

LIN vs. SOBO.TO - Volatility Comparison

The current volatility for Linde plc (LIN) is 5.57%, while South Bow Corp (SOBO.TO) has a volatility of 7.09%. This indicates that LIN experiences smaller price fluctuations and is considered to be less risky than SOBO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIN	SOBO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	7.09%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	13.53%	14.83%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	20.21%	-2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.79%	44.59%	-23.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.08%	44.59%	-20.51%

Dividends

LIN vs. SOBO.TO - Dividend Comparison

LIN's dividend yield for the trailing twelve months is around 1.18%, less than SOBO.TO's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
LIN Linde plc	1.18%	1.41%	1.33%	1.24%	1.43%	1.22%	1.46%	1.64%	0.53%
SOBO.TO South Bow Corp	5.18%	7.37%	2.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

LIN vs. SOBO.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Linde plc and South Bow Corp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LIN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Linde plc reported a gross profit of 4.26B and revenue of 8.78B. Therefore, the gross margin over that period was 48.5%.

SOBO.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, South Bow Corp reported a gross profit of 91.48M and revenue of 416.07M. Therefore, the gross margin over that period was 22.0%.

LIN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Linde plc reported an operating income of 3.26B and revenue of 8.78B, resulting in an operating margin of 37.2%.

SOBO.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, South Bow Corp reported an operating income of 91.48M and revenue of 416.07M, resulting in an operating margin of 22.0%.

LIN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Linde plc reported a net income of 1.86B and revenue of 8.78B, resulting in a net margin of 21.2%.

SOBO.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, South Bow Corp reported a net income of 75.74M and revenue of 416.07M, resulting in a net margin of 18.2%.

Frequently Asked Questions

Can I hold both LIN and SOBO.TO in my portfolio?

LIN and SOBO.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.