SOBO.TO vs. PPL.TO
SOBO.TO (South Bow Corp) and PPL.TO (Pembina Pipeline Corporation) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past year, SOBO.TO returned 55.36% vs 36.20% for PPL.TO. At a 0.47 correlation, their price movements are largely independent.
Performance
SOBO.TO vs. PPL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SOBO.TO achieves a 43.31% return, which is significantly higher than PPL.TO's 30.78% return.
SOBO.TO
- 1D
- 1.25%
- 1M
- 4.02%
- YTD
- 43.31%
- 6M
- 46.62%
- 1Y
- 55.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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 vs. PPL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SOBO.TO South Bow Corp | 43.31% | 19.87% | 23.73% |
PPL.TO Pembina Pipeline Corporation | 30.78% | 3.76% | -3.27% |
Correlation
The correlation between SOBO.TO and PPL.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 SOBO.TO and PPL.TO has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
Fundamentals
SOBO.TO:
CA$11.12B
PPL.TO:
CA$39.34B
SOBO.TO:
$2.03
PPL.TO:
CA$2.90
SOBO.TO:
18.81
PPL.TO:
23.28
SOBO.TO:
3.47
PPL.TO:
0.89
SOBO.TO:
4.37
PPL.TO:
5.17
SOBO.TO:
2.99
PPL.TO:
2.59
SOBO.TO:
$1.82B
PPL.TO:
CA$7.61B
SOBO.TO:
$893.03M
PPL.TO:
CA$2.90B
SOBO.TO:
$851.07M
PPL.TO:
CA$3.41B
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Return for Risk
SOBO.TO vs. PPL.TO — Risk / Return Rank
SOBO.TO
PPL.TO
SOBO.TO vs. PPL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for South Bow Corp (SOBO.TO) and Pembina Pipeline Corporation (PPL.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.
| SOBO.TO | PPL.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 | 1.44 | 1.35 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.48 | 2.94 | +1.53 |
| Martin ratioReturn relative to average drawdown | 11.83 | 6.93 | +4.90 |
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Drawdowns
SOBO.TO vs. PPL.TO - Drawdown Comparison
The maximum SOBO.TO drawdown since its inception was -26.40%, smaller than the maximum PPL.TO drawdown of -68.76%. Use the drawdown chart below to compare losses from any high point for SOBO.TO and PPL.TO.
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Drawdown Indicators
| SOBO.TO | PPL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.40% | -68.76% | +42.36% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -12.82% | +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 | 0.00% | -1.26% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -10.20% | +5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 5.43% | -0.83% |
Volatility
SOBO.TO vs. PPL.TO - Volatility Comparison
South Bow Corp (SOBO.TO) has a higher volatility of 7.30% compared to Pembina Pipeline Corporation (PPL.TO) at 6.30%. This indicates that SOBO.TO's price experiences larger fluctuations and is considered to be riskier than PPL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOBO.TO | PPL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 6.30% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.84% | 13.47% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.97% | 18.99% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.55% | 18.62% | +25.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.55% | 30.89% | +13.66% |
Dividends
SOBO.TO vs. PPL.TO - Dividend Comparison
SOBO.TO's dividend yield for the trailing twelve months is around 5.18%, more than PPL.TO's 4.20% 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
SOBO.TO vs. PPL.TO - Financials Comparison
This section allows you to compare key financial metrics between South Bow Corp and Pembina Pipeline Corporation. 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
SOBO.TO vs. PPL.TO - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
SOBO.TO and PPL.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.
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