NOA vs. GFL
NOA (North American Construction Group Ltd) and GFL (GFL Environmental Inc.) are both stocks. NOA operates in Oil & Gas Equipment & Services (Energy), while GFL operates in Waste Management (Industrials). Over the past 5 years, NOA returned 1.00%/yr vs 1.95%/yr for GFL. At a 0.17 correlation, their price movements are largely independent.
Performance
NOA vs. GFL - Performance Comparison
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Returns By Period
In the year-to-date period, NOA achieves a -4.60% return, which is significantly higher than GFL's -19.12% return.
NOA
- 1D
- -1.98%
- 1M
- -6.36%
- YTD
- -4.60%
- 6M
- -4.93%
- 1Y
- -20.74%
- 3Y*
- -8.50%
- 5Y*
- 1.00%
- 10Y*
- 18.82%
GFL
- 1D
- 2.81%
- 1M
- -7.96%
- YTD
- -19.12%
- 6M
- -22.64%
- 1Y
- -29.59%
- 3Y*
- -2.41%
- 5Y*
- 1.95%
- 10Y*
- —
NOA vs. GFL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NOA North American Construction Group Ltd | -4.60% | -31.98% | 5.16% | 58.49% | -9.78% | 54.32% | 15.16% |
GFL GFL Environmental Inc. | -19.12% | -3.44% | 29.26% | 18.24% | -22.65% | 29.88% | 73.97% |
Correlation
The correlation between NOA and GFL is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2020 | 0.17 |
The correlation between NOA and GFL shifts across timeframes, from 0.06 (3 years) to 0.17 (all time), reflecting how their relationship changes across market environments.
Fundamentals
NOA:
$385.95M
GFL:
$12.44B
NOA:
$1.09
GFL:
$0.57
NOA:
12.38
GFL:
61.42
NOA:
0.33
GFL:
1.91
NOA:
0.81
GFL:
1.70
NOA:
$1.26B
GFL:
$6.70B
NOA:
$166.23M
GFL:
$1.38B
NOA:
$324.24M
GFL:
$2.14B
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Return for Risk
NOA vs. GFL — Risk / Return Rank
NOA
GFL
NOA vs. GFL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for North American Construction Group Ltd (NOA) and GFL Environmental Inc. (GFL). 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.
| NOA | GFL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.79 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | -0.87 | +0.22 |
| Martin ratioReturn relative to average drawdown | -1.11 | -1.98 | +0.87 |
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
| NOA | GFL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.41 | -1.18 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.07 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.38 | -0.38 |
Drawdowns
NOA vs. GFL - Drawdown Comparison
The maximum NOA drawdown since its inception was -93.59%, which is greater than GFL's maximum drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for NOA and GFL.
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Drawdown Indicators
| NOA | GFL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.59% | -42.76% | -50.83% |
Max Drawdown (1Y)Largest decline over 1 year | -32.31% | -34.20% | +1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -50.67% | -34.88% | -15.79% |
Max Drawdown (5Y)Largest decline over 5 years | -50.67% | -42.76% | -7.91% |
Max Drawdown (10Y)Largest decline over 10 years | -68.41% | — | — |
Current DrawdownCurrent decline from peak | -44.11% | -32.61% | -11.50% |
Average DrawdownAverage peak-to-trough decline | -55.69% | -14.34% | -41.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.70% | 14.98% | +3.72% |
Volatility
NOA vs. GFL - Volatility Comparison
North American Construction Group Ltd (NOA) has a higher volatility of 13.10% compared to GFL Environmental Inc. (GFL) at 7.45%. This indicates that NOA's price experiences larger fluctuations and is considered to be riskier than GFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOA | GFL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.10% | 7.45% | +5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 40.85% | 21.11% | +19.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.80% | 25.19% | +25.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.32% | 29.77% | +12.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.95% | 32.96% | +12.99% |
Dividends
NOA vs. GFL - Dividend Comparison
NOA's dividend yield for the trailing twelve months is around 3.20%, more than GFL's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GFL GFL Environmental Inc. | 0.18% | 0.14% | 0.12% | 0.15% | 0.16% | 0.11% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOA North American Construction Group Ltd | 3.20% | 2.39% | 1.42% | 1.54% | 1.84% | 0.85% | 1.21% | 0.74% | 0.73% | 1.62% | 2.08% | 4.62% |
Financials
NOA vs. GFL - Financials Comparison
This section allows you to compare key financial metrics between North American Construction Group Ltd and GFL Environmental Inc.. 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
NOA vs. GFL - Profitability Comparison
NOA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, North American Construction Group Ltd reported a gross profit of 42.36M and revenue of 320.04M. Therefore, the gross margin over that period was 13.2%.
GFL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a gross profit of 300.57M and revenue of 1.65B. Therefore, the gross margin over that period was 18.2%.
NOA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, North American Construction Group Ltd reported an operating income of 21.87M and revenue of 320.04M, resulting in an operating margin of 6.8%.
GFL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported an operating income of 34.09M and revenue of 1.65B, resulting in an operating margin of 2.1%.
NOA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, North American Construction Group Ltd reported a net income of 5.57M and revenue of 320.04M, resulting in a net margin of 1.7%.
GFL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a net income of -216.26M and revenue of 1.65B, resulting in a net margin of -13.1%.
Frequently Asked Questions
NOA and GFL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOA has higher volatility (13.10%) compared to GFL (7.45%). In terms of maximum drawdown, NOA dropped -93.59% vs GFL's -42.76%.
NOA currently has the higher Sharpe Ratio (-0.41 vs -1.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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