NNRG.NEO vs. CNQ.TO
NNRG.NEO (Ninepoint Energy ETF) is Energy Equities fund tracking the S&P/TSX Capped Energy Total Return Index, while CNQ.TO (Canadian Natural Resources Limited) is a stock. Over the past 5 years, NNRG.NEO returned 26.77%/yr vs 30.34%/yr for CNQ.TO. Their correlation of 0.81 suggests significant overlap in exposure.
Performance
NNRG.NEO vs. CNQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, NNRG.NEO achieves a 32.05% return, which is significantly higher than CNQ.TO's 23.26% return.
NNRG.NEO
- 1D
- 0.48%
- 1M
- -6.85%
- YTD
- 32.05%
- 6M
- 33.04%
- 1Y
- 47.06%
- 3Y*
- 25.31%
- 5Y*
- 26.77%
- 10Y*
- —
CNQ.TO
- 1D
- 0.23%
- 1M
- -12.28%
- YTD
- 23.26%
- 6M
- 27.15%
- 1Y
- 36.67%
- 3Y*
- 22.98%
- 5Y*
- 30.34%
- 10Y*
- 21.75%
NNRG.NEO vs. CNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NNRG.NEO Ninepoint Energy ETF | 32.05% | 19.14% | 13.26% | -4.21% | 50.49% | 52.90% |
CNQ.TO Canadian Natural Resources Limited | 23.26% | 10.42% | 8.27% | 26.98% | 63.10% | 37.48% |
Correlation
The correlation between NNRG.NEO and CNQ.TO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | 0.81 |
The correlation between NNRG.NEO and CNQ.TO has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.
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Return for Risk
NNRG.NEO vs. CNQ.TO — Risk / Return Rank
NNRG.NEO
CNQ.TO
NNRG.NEO vs. CNQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ninepoint Energy ETF (NNRG.NEO) and Canadian Natural Resources Limited (CNQ.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.
| NNRG.NEO | CNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 2.00 | +1.40 |
| Martin ratioReturn relative to average drawdown | 10.48 | 6.43 | +4.05 |
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Drawdowns
NNRG.NEO vs. CNQ.TO - Drawdown Comparison
The maximum NNRG.NEO drawdown since its inception was -35.78%, smaller than the maximum CNQ.TO drawdown of -74.63%. Use the drawdown chart below to compare losses from any high point for NNRG.NEO and CNQ.TO.
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Drawdown Indicators
| NNRG.NEO | CNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.78% | -74.63% | +38.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.98% | -18.43% | +4.45% |
Max Drawdown (3Y)Largest decline over 3 years | -23.52% | -33.12% | +9.60% |
Max Drawdown (5Y)Largest decline over 5 years | -35.78% | -33.12% | -2.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.63% | — |
Current DrawdownCurrent decline from peak | -13.57% | -18.24% | +4.67% |
Average DrawdownAverage peak-to-trough decline | -11.88% | -17.65% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 5.72% | -0.94% |
Volatility
NNRG.NEO vs. CNQ.TO - Volatility Comparison
The current volatility for Ninepoint Energy ETF (NNRG.NEO) is 8.51%, while Canadian Natural Resources Limited (CNQ.TO) has a volatility of 9.08%. This indicates that NNRG.NEO experiences smaller price fluctuations and is considered to be less risky than CNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NNRG.NEO | CNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.51% | 9.08% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 21.25% | 24.45% | -3.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.34% | 28.97% | -3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.13% | 30.63% | +3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.17% | 38.13% | -3.96% |
Dividends
NNRG.NEO vs. CNQ.TO - Dividend Comparison
NNRG.NEO's dividend yield for the trailing twelve months is around 0.57%, less than CNQ.TO's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 4.32% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
NNRG.NEO Ninepoint Energy ETF | 0.57% | 0.37% | 0.39% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NNRG.NEO and CNQ.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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