NA-PC.TO vs. BNS
NA-PC.TO (National Bank of Canada) and BNS (The Bank of Nova Scotia) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 5 years, NA-PC.TO returned 6.64%/yr vs 13.49%/yr for BNS. At a 0.16 correlation, their price movements are largely independent.
Performance
NA-PC.TO vs. BNS - Performance Comparison
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Different Trading Currencies
NA-PC.TO is traded in CAD, while BNS is traded in USD. To make them comparable, the BNS values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NA-PC.TO achieves a 0.57% return, which is significantly lower than BNS's 12.76% return.
NA-PC.TO
- 1D
- 0.00%
- 1M
- -0.80%
- YTD
- 0.57%
- 6M
- 1.17%
- 1Y
- 5.32%
- 3Y*
- 8.21%
- 5Y*
- 6.64%
- 10Y*
- —
BNS
- 1D
- -0.06%
- 1M
- 6.91%
- YTD
- 12.76%
- 6M
- 16.25%
- 1Y
- 60.09%
- 3Y*
- 26.81%
- 5Y*
- 13.49%
- 10Y*
- 11.84%
NA-PC.TO vs. BNS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NA-PC.TO National Bank of Canada | 0.57% | 7.85% | 10.72% | 7.69% | 4.16% | 7.60% | 22.43% | 2.59% | -10.38% | 5.62% |
BNS The Bank of Nova Scotia | 12.76% | 38.46% | 27.65% | 6.14% | -22.93% | 39.35% | -0.02% | 11.71% | -11.35% | 8.46% |
Correlation
The correlation between NA-PC.TO and BNS is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017 | 0.16 |
The correlation between NA-PC.TO and BNS shifts across timeframes, from -0.02 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NA-PC.TO:
CA$10.23B
BNS:
$72.75B
NA-PC.TO:
CA$11.69
BNS:
$8.23
NA-PC.TO:
2.24
BNS:
9.75
NA-PC.TO:
0.32
BNS:
1.32
NA-PC.TO:
0.33
BNS:
0.94
NA-PC.TO:
CA$31.79B
BNS:
$70.57B
NA-PC.TO:
CA$14.01B
BNS:
$33.43B
NA-PC.TO:
CA$6.37B
BNS:
$13.61B
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Return for Risk
NA-PC.TO vs. BNS — Risk / Return Rank
NA-PC.TO
BNS
NA-PC.TO vs. BNS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Bank of Canada (NA-PC.TO) and The Bank of Nova Scotia (BNS). 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.
| NA-PC.TO | BNS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.40 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.79 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 5.23 | -3.18 |
| Martin ratioReturn relative to average drawdown | 4.75 | 20.47 | -15.71 |
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
| NA-PC.TO | BNS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 4.00 | -3.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.83 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.66 | -0.15 |
Drawdowns
NA-PC.TO vs. BNS - Drawdown Comparison
The maximum NA-PC.TO drawdown since its inception was -46.51%, which is greater than BNS's maximum drawdown of -38.37%. Use the drawdown chart below to compare losses from any high point for NA-PC.TO and BNS.
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Drawdown Indicators
| NA-PC.TO | BNS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.51% | -38.37% | -8.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -11.55% | +8.95% |
Max Drawdown (3Y)Largest decline over 3 years | -5.16% | -18.08% | +12.92% |
Max Drawdown (5Y)Largest decline over 5 years | -5.16% | -33.35% | +28.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.37% | — |
Current DrawdownCurrent decline from peak | -1.36% | -0.06% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -3.40% | -8.32% | +4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 2.94% | -1.82% |
Volatility
NA-PC.TO vs. BNS - Volatility Comparison
The current volatility for National Bank of Canada (NA-PC.TO) is 2.08%, while The Bank of Nova Scotia (BNS) has a volatility of 5.20%. This indicates that NA-PC.TO experiences smaller price fluctuations and is considered to be less risky than BNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NA-PC.TO | BNS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 5.20% | -3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 11.92% | -7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 15.11% | -8.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.90% | 16.30% | -9.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.18% | 18.75% | -6.57% |
Dividends
NA-PC.TO vs. BNS - Dividend Comparison
NA-PC.TO's dividend yield for the trailing twelve months is around 6.72%, more than BNS's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNS The Bank of Nova Scotia | 3.97% | 4.17% | 5.85% | 8.56% | 6.39% | 5.09% | 4.93% | 3.53% | 6.34% | 4.80% | 5.24% | 8.13% |
NA-PC.TO National Bank of Canada | 6.72% | 6.54% | 6.60% | 6.82% | 4.34% | 4.32% | 4.45% | 5.15% | 5.02% | 1.83% | 0.00% | 0.00% |
Financials
NA-PC.TO vs. BNS - Financials Comparison
This section allows you to compare key financial metrics between National Bank of Canada and The Bank of Nova Scotia. 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
NA-PC.TO vs. BNS - Profitability Comparison
NA-PC.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Bank of Canada reported a gross profit of 3.66B and revenue of 8.07B. Therefore, the gross margin over that period was 45.4%.
BNS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Bank of Nova Scotia reported a gross profit of 8.40B and revenue of 17.18B. Therefore, the gross margin over that period was 48.9%.
NA-PC.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Bank of Canada reported an operating income of 1.62B and revenue of 8.07B, resulting in an operating margin of 20.0%.
BNS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Bank of Nova Scotia reported an operating income of 3.43B and revenue of 17.18B, resulting in an operating margin of 20.0%.
NA-PC.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Bank of Canada reported a net income of 1.23B and revenue of 8.07B, resulting in a net margin of 15.3%.
BNS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Bank of Nova Scotia reported a net income of 2.59B and revenue of 17.18B, resulting in a net margin of 15.1%.
Frequently Asked Questions
NA-PC.TO and BNS have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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