PPL.TO vs. SOBO.TO
PPL.TO (Pembina Pipeline Corporation) and SOBO.TO (South Bow Corp) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past year, PPL.TO returned 36.20% vs 55.36% for SOBO.TO. At a 0.47 correlation, their price movements are largely independent.
Performance
PPL.TO vs. SOBO.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PPL.TO achieves a 30.78% return, which is significantly lower than SOBO.TO's 43.31% return.
PPL.TO
- 1D
- -0.46%
- 1M
- 0.36%
- YTD
- 30.78%
- 6M
- 28.18%
- 1Y
- 36.20%
- 3Y*
- 23.83%
- 5Y*
- 17.18%
- 10Y*
- 11.55%
SOBO.TO
- 1D
- 1.25%
- 1M
- 4.02%
- YTD
- 43.31%
- 6M
- 46.62%
- 1Y
- 55.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PPL.TO vs. SOBO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PPL.TO Pembina Pipeline Corporation | 30.78% | 3.76% | -3.27% |
SOBO.TO South Bow Corp | 43.31% | 19.87% | 23.73% |
Correlation
The correlation between PPL.TO and SOBO.TO is 0.51, 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 | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.47 |
The correlation between PPL.TO and SOBO.TO has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
Fundamentals
PPL.TO:
CA$39.34B
SOBO.TO:
CA$11.12B
PPL.TO:
CA$2.90
SOBO.TO:
$2.03
PPL.TO:
23.28
SOBO.TO:
18.81
PPL.TO:
0.89
SOBO.TO:
3.47
PPL.TO:
5.17
SOBO.TO:
4.37
PPL.TO:
2.59
SOBO.TO:
2.99
PPL.TO:
CA$7.61B
SOBO.TO:
$1.82B
PPL.TO:
CA$2.90B
SOBO.TO:
$893.03M
PPL.TO:
CA$3.41B
SOBO.TO:
$851.07M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PPL.TO vs. SOBO.TO — Risk / Return Rank
PPL.TO
SOBO.TO
PPL.TO vs. SOBO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pembina Pipeline Corporation (PPL.TO) 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.
| PPL.TO | SOBO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.44 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 4.48 | -1.53 |
| Martin ratioReturn relative to average drawdown | 6.93 | 11.83 | -4.90 |
Loading charts...
Drawdowns
PPL.TO vs. SOBO.TO - Drawdown Comparison
The maximum PPL.TO drawdown since its inception was -68.76%, which is greater than SOBO.TO's maximum drawdown of -26.40%. Use the drawdown chart below to compare losses from any high point for PPL.TO and SOBO.TO.
Loading charts...
Drawdown Indicators
| PPL.TO | SOBO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.76% | -26.40% | -42.36% |
Max Drawdown (1Y)Largest decline over 1 year | -12.82% | -12.09% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -68.76% | — | — |
Current DrawdownCurrent decline from peak | -1.26% | 0.00% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -4.69% | -5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 4.60% | +0.83% |
Volatility
PPL.TO vs. SOBO.TO - Volatility Comparison
The current volatility for Pembina Pipeline Corporation (PPL.TO) is 6.30%, while South Bow Corp (SOBO.TO) has a volatility of 7.30%. This indicates that PPL.TO 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.
Loading charts...
Volatility by Period
| PPL.TO | SOBO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.30% | 7.30% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 13.47% | 14.84% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.99% | 19.97% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 44.55% | -25.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.89% | 44.55% | -13.66% |
Dividends
PPL.TO vs. SOBO.TO - Dividend Comparison
PPL.TO's dividend yield for the trailing twelve months is around 4.20%, less than SOBO.TO's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPL.TO Pembina Pipeline Corporation | 4.20% | 5.39% | 5.15% | 5.82% | 5.55% | 6.57% | 8.37% | 4.90% | 5.53% | 4.48% | 4.52% | 5.97% |
SOBO.TO South Bow Corp | 5.18% | 7.37% | 2.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
PPL.TO vs. SOBO.TO - Financials Comparison
This section allows you to compare key financial metrics between Pembina Pipeline Corporation and South Bow Corp. 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.TO vs. SOBO.TO - Profitability Comparison
PPL.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%.
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%.
PPL.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%.
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%.
PPL.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%.
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
PPL.TO and SOBO.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for PPL.TO and SOBO.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer