PPL-PC.TO vs. CNQ.TO
PPL-PC.TO (Pembina Pipeline Corporation) and CNQ.TO (Canadian Natural Resources Limited) are both stocks. Both are in the Energy sector — PPL-PC.TO in Oil & Gas Midstream, CNQ.TO in Oil & Gas E&P. Over the past 10 years, PPL-PC.TO returned 11.14%/yr vs 18.54%/yr for CNQ.TO. At a 0.14 correlation, their price movements are largely independent.
Performance
PPL-PC.TO vs. CNQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PPL-PC.TO achieves a 5.04% return, which is significantly lower than CNQ.TO's 43.73% return. Over the past 10 years, PPL-PC.TO has underperformed CNQ.TO with an annualized return of 11.14%, while CNQ.TO has yielded a comparatively higher 18.54% annualized return.
PPL-PC.TO
- 1D
- 0.00%
- 1M
- -0.08%
- YTD
- 5.04%
- 6M
- 5.72%
- 1Y
- 15.51%
- 3Y*
- 23.23%
- 5Y*
- 10.13%
- 10Y*
- 11.14%
CNQ.TO
- 1D
- -0.21%
- 1M
- 1.47%
- YTD
- 43.73%
- 6M
- 40.76%
- 1Y
- 64.26%
- 3Y*
- 27.06%
- 5Y*
- 30.18%
- 10Y*
- 18.54%
PPL-PC.TO vs. CNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPL-PC.TO Pembina Pipeline Corporation | 5.04% | 21.55% | 32.83% | 14.31% | -18.29% | 52.16% | -5.77% | -0.08% | -14.42% | 20.07% |
CNQ.TO Canadian Natural Resources Limited | 43.73% | 10.42% | 7.11% | 21.06% | 49.65% | 82.41% | -20.75% | 32.78% | -24.17% | 7.75% |
Correlation
The correlation between PPL-PC.TO and CNQ.TO is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2013 | 0.14 |
The correlation between PPL-PC.TO and CNQ.TO shifts across timeframes, from 0.01 (1 year) to 0.15 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
PPL-PC.TO:
CA$14.71B
CNQ.TO:
CA$138.80B
PPL-PC.TO:
CA$2.90
CNQ.TO:
CA$4.65
PPL-PC.TO:
8.71
CNQ.TO:
14.24
PPL-PC.TO:
0.33
CNQ.TO:
0.68
PPL-PC.TO:
1.93
CNQ.TO:
3.49
PPL-PC.TO:
0.97
CNQ.TO:
3.11
PPL-PC.TO:
CA$7.61B
CNQ.TO:
CA$39.61B
PPL-PC.TO:
CA$2.90B
CNQ.TO:
CA$12.42B
PPL-PC.TO:
CA$3.41B
CNQ.TO:
CA$17.78B
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Return for Risk
PPL-PC.TO vs. CNQ.TO — Risk / Return Rank
PPL-PC.TO
CNQ.TO
PPL-PC.TO vs. CNQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pembina Pipeline Corporation (PPL-PC.TO) 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.
| PPL-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.37 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.42 | 4.21 | +1.20 |
| Martin ratioReturn relative to average drawdown | 21.66 | 11.05 | +10.61 |
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
| PPL-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 2.26 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 1.00 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.49 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.63 | -0.30 |
Drawdowns
PPL-PC.TO vs. CNQ.TO - Drawdown Comparison
The maximum PPL-PC.TO drawdown since its inception was -57.07%, smaller than the maximum CNQ.TO drawdown of -76.20%. Use the drawdown chart below to compare losses from any high point for PPL-PC.TO and CNQ.TO.
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Drawdown Indicators
| PPL-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.07% | -76.20% | +19.13% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -15.33% | +12.22% |
Max Drawdown (3Y)Largest decline over 3 years | -9.57% | -33.11% | +23.54% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -33.11% | +7.23% |
Max Drawdown (10Y)Largest decline over 10 years | -57.07% | -76.20% | +19.13% |
Current DrawdownCurrent decline from peak | -0.86% | -4.66% | +3.80% |
Average DrawdownAverage peak-to-trough decline | -11.92% | -18.90% | +6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 5.83% | -5.05% |
Volatility
PPL-PC.TO vs. CNQ.TO - Volatility Comparison
The current volatility for Pembina Pipeline Corporation (PPL-PC.TO) is 1.57%, while Canadian Natural Resources Limited (CNQ.TO) has a volatility of 9.59%. This indicates that PPL-PC.TO 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
| PPL-PC.TO | CNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.57% | 9.59% | -8.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 23.65% | -19.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.77% | 28.61% | -21.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 30.46% | -15.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.02% | 38.02% | -18.00% |
Dividends
PPL-PC.TO vs. CNQ.TO - Dividend Comparison
PPL-PC.TO's dividend yield for the trailing twelve months is around 5.95%, more than CNQ.TO's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 3.61% | 5.06% | 4.82% | 4.26% | 6.12% | 3.66% | 5.44% | 3.50% | 3.98% | 2.40% | 2.15% | 3.02% |
PPL-PC.TO Pembina Pipeline Corporation | 5.95% | 6.07% | 6.47% | 6.37% | 6.83% | 5.26% | 7.56% | 6.64% | 6.44% | 5.23% | 5.95% | 6.49% |
Financials
PPL-PC.TO vs. CNQ.TO - Financials Comparison
This section allows you to compare key financial metrics between Pembina Pipeline Corporation and Canadian Natural Resources Limited. 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
PPL-PC.TO vs. CNQ.TO - Profitability Comparison
PPL-PC.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pembina Pipeline Corporation reported a gross profit of 795.00M and revenue of 2.07B. Therefore, the gross margin over that period was 38.5%.
CNQ.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a gross profit of 3.47B and revenue of 10.81B. Therefore, the gross margin over that period was 32.1%.
PPL-PC.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pembina Pipeline Corporation reported an operating income of 669.00M and revenue of 2.07B, resulting in an operating margin of 32.4%.
CNQ.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported an operating income of 2.67B and revenue of 10.81B, resulting in an operating margin of 24.7%.
PPL-PC.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pembina Pipeline Corporation reported a net income of 498.00M and revenue of 2.07B, resulting in a net margin of 24.1%.
CNQ.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Natural Resources Limited reported a net income of 1.35B and revenue of 10.81B, resulting in a net margin of 12.5%.
Frequently Asked Questions
PPL-PC.TO and CNQ.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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