SHLE.TO vs. ^NDX

Last updated Jul 21, 2026

SHLE.TO (Source Energy Services Ltd.) is a stock, while ^NDX (NASDAQ 100 Index) is an index. Over the past 5 years, SHLE.TO returned 46.11%/yr vs 16.34%/yr for ^NDX. At a 0.13 correlation, their price movements are largely independent.

Performance

SHLE.TO vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Source Energy Services Ltd. (SHLE.TO) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SHLE.TO is traded in CAD, while ^NDX is traded in USD. To make them comparable, the ^NDX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SHLE.TO achieves a -21.53% return, which is significantly lower than ^NDX's 15.97% return.

SHLE.TO

• 1D: -5.85%
• 1M: -11.70%
• 6M: -27.76%
• YTD: -21.53%
• 1Y: -14.12%
• 3Y*: 30.04%
• 5Y*: 46.11%
• 10Y*: —
• ALL TIME*: -22.35%

^NDX

• 1D: -0.09%
• 1M: -6.46%
• 6M: 13.10%
• YTD: 15.97%
• 1Y: 26.57%
• 3Y*: 25.43%
• 5Y*: 16.34%
• 10Y*: 20.72%
• ALL TIME*: 14.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SHLE.TO vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHLE.TO Source Energy Services Ltd.	-21.53%	-6.47%	172.48%	215.34%	18.13%	2.56%	-45.83%	-81.40%	-85.81%	-11.92%
^NDX NASDAQ 100 Index	15.97%	14.68%	35.45%	50.15%	-28.72%	26.56%	44.08%	32.28%	7.28%	11.82%

Correlation

The correlation between SHLE.TO and ^NDX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017	0.13

Return for Risk

SHLE.TO vs. ^NDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHLE.TO

SHLE.TO Risk / Return Rank: 31
SHLE.TO Sharpe Ratio Rank: 33
SHLE.TO Sortino Ratio Rank: 32
SHLE.TO Omega Ratio Rank: 32
SHLE.TO Calmar Ratio Rank: 31
SHLE.TO Martin Ratio Rank: 28

^NDX

^NDX Risk / Return Rank: 51
^NDX Sharpe Ratio Rank: 46
^NDX Sortino Ratio Rank: 44
^NDX Omega Ratio Rank: 47
^NDX Calmar Ratio Rank: 60
^NDX Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SHLE.TO vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Source Energy Services Ltd. (SHLE.TO) and NASDAQ 100 Index (^NDX). 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.

	SHLE.TO	^NDX	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	1.41	-1.70
Sortino ratio: Return per unit of downside risk	-0.09	1.97	-2.06
Omega ratio: Gain probability vs. loss probability	0.99	1.25	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.41	2.16	-2.56
Martin ratio: Return relative to average drawdown	-0.86	6.76	-7.61

SHLE.TO vs. ^NDX - Sharpe Ratio Comparison

The current SHLE.TO Sharpe Ratio is -0.29, which is lower than the ^NDX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of SHLE.TO and ^NDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SHLE.TO vs. ^NDX - Drawdown Comparison

The maximum SHLE.TO drawdown since its inception was -99.47%, which is greater than ^NDX's maximum drawdown of -38.10%. Use the drawdown chart below to compare losses from any high point for SHLE.TO and ^NDX.

Drawdown Indicators

	SHLE.TO	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-99.47%	-38.10%	-61.37%
Max Drawdown (1Y) Largest decline over 1 year	-34.79%	-12.37%	-22.42%
Max Drawdown (3Y) Largest decline over 3 years	-60.34%	-22.81%	-37.53%
Max Drawdown (5Y) Largest decline over 5 years	-68.02%	-32.52%	-35.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.52%	—
Current Drawdown Current decline from peak	-90.37%	-6.79%	-83.58%
Average Drawdown Average peak-to-trough decline	-84.20%	-6.87%	-77.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.52%	3.94%	+12.58%

Volatility

SHLE.TO vs. ^NDX - Volatility Comparison

Source Energy Services Ltd. (SHLE.TO) has a higher volatility of 8.79% compared to NASDAQ 100 Index (^NDX) at 7.55%. This indicates that SHLE.TO's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLE.TO	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.79%	7.55%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	31.10%	15.74%	+15.36%
Volatility (1Y) Calculated over the trailing 1-year period	49.58%	18.98%	+30.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.28%	23.77%	+51.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	105.31%	23.66%	+81.65%

Frequently Asked Questions

Can I hold both SHLE.TO and ^NDX in my portfolio?

SHLE.TO and ^NDX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.