TAC vs. SBS

Last updated Jun 3, 2026

TAC (TransAlta Corp) and SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) are both stocks. Both are in the Utilities sector — TAC in Utilities - Independent Power Producers, SBS in Utilities - Regulated Water. Over the past 10 years, TAC returned 13.17%/yr vs 17.12%/yr for SBS. At a 0.27 correlation, their price movements are largely independent.

Performance

TAC vs. SBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TransAlta Corp (TAC) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAC achieves a 14.28% return, which is significantly lower than SBS's 16.76% return. Over the past 10 years, TAC has underperformed SBS with an annualized return of 13.17%, while SBS has yielded a comparatively higher 17.12% annualized return.

TAC

• 1D: 1.27%
• 1M: 15.31%
• YTD: 14.28%
• 6M: 2.73%
• 1Y: 47.07%
• 3Y*: 15.33%
• 5Y*: 10.58%
• 10Y*: 13.17%

SBS

• 1D: 1.28%
• 1M: -16.94%
• YTD: 16.76%
• 6M: 8.45%
• 1Y: 44.33%
• 3Y*: 41.93%
• 5Y*: 33.33%
• 10Y*: 17.12%

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

TAC vs. SBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TAC TransAlta Corp	14.28%	-9.24%	73.96%	-5.50%	-18.03%	48.90%	8.06%	77.05%	-29.03%	11.23%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	16.76%	80.60%	-4.21%	46.89%	48.42%	-13.79%	-40.98%	91.22%	-20.37%	23.83%

Correlation

The correlation between TAC and SBS is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since May 13, 2002	0.27

Fundamentals

Market Cap TAC : $4.26B SBS : $19.49B
EPS TAC : -$0.57 SBS : $2.48
PS Ratio TAC : 1.95 SBS : 0.49
PB Ratio TAC : 9.14 SBS : 0.45
Total Revenue (TTM) TAC : $2.21B SBS : $38.70B
Gross Profit (TTM) TAC : $889.52M SBS : $13.96B
EBITDA (TTM) TAC : $511.31M SBS : $14.87B

Return for Risk

TAC vs. SBS — Risk / Return Rank

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

TAC

TAC Risk / Return Rank: 69
TAC Sharpe Ratio Rank: 75
TAC Sortino Ratio Rank: 70
TAC Omega Ratio Rank: 70
TAC Calmar Ratio Rank: 68
TAC Martin Ratio Rank: 63

SBS

SBS Risk / Return Rank: 74
SBS Sharpe Ratio Rank: 78
SBS Sortino Ratio Rank: 74
SBS Omega Ratio Rank: 70
SBS Calmar Ratio Rank: 72
SBS Martin Ratio Rank: 78

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.

TAC vs. SBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TransAlta Corp (TAC) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). 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.

	TAC	SBS	Difference
Sharpe ratio Return per unit of total volatility	1.19	1.32	-0.13
Sortino ratio Return per unit of downside risk	1.76	1.97	-0.21
Omega ratio Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio Return relative to maximum drawdown	1.48	1.85	-0.37
Martin ratio Return relative to average drawdown	2.56	5.93	-3.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAC vs. SBS - Sharpe Ratio Comparison

The current TAC Sharpe Ratio is 1.19, which is comparable to the SBS Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of TAC and SBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TAC	SBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.32	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.91	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.39	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.35	-0.22

Drawdowns

TAC vs. SBS - Drawdown Comparison

The maximum TAC drawdown since its inception was -88.12%, which is greater than SBS's maximum drawdown of -76.49%. Use the drawdown chart below to compare losses from any high point for TAC and SBS.

Drawdown Indicators

	TAC	SBS	Difference
Max Drawdown Largest peak-to-trough decline	-88.12%	-76.49%	-11.63%
Max Drawdown (1Y) Largest decline over 1 year	-33.10%	-22.90%	-10.20%
Max Drawdown (3Y) Largest decline over 3 years	-43.26%	-23.79%	-19.47%
Max Drawdown (5Y) Largest decline over 5 years	-46.55%	-30.35%	-16.20%
Max Drawdown (10Y) Largest decline over 10 years	-55.11%	-61.91%	+6.80%
Current Drawdown Current decline from peak	-18.49%	-21.91%	+3.42%
Average Drawdown Average peak-to-trough decline	-40.59%	-25.71%	-14.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.17%	7.13%	+12.04%

Volatility

TAC vs. SBS - Volatility Comparison

The current volatility for TransAlta Corp (TAC) is 8.08%, while Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) has a volatility of 9.36%. This indicates that TAC experiences smaller price fluctuations and is considered to be less risky than SBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAC	SBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.08%	9.36%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	27.47%	25.50%	+1.97%
Volatility (1Y) Calculated over the trailing 1-year period	39.66%	33.77%	+5.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.50%	36.88%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.39%	43.57%	-8.18%

Dividends

TAC vs. SBS - Dividend Comparison

TAC's dividend yield for the trailing twelve months is around 1.34%, less than SBS's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	2.30%	4.68%	1.96%	1.66%	1.88%	0.97%	2.93%	1.99%	3.86%	2.76%	0.65%	1.91%
TAC TransAlta Corp	1.34%	1.44%	1.24%	2.13%	1.76%	1.38%	1.69%	1.68%	3.20%	2.69%	2.74%	20.34%

Financials

TAC vs. SBS - Profitability Comparison

The chart below illustrates the profitability comparison between TransAlta Corp and Companhia de Saneamento Básico do Estado de São Paulo - SABESP over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TAC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TransAlta Corp reported a gross profit of 243.63M and revenue of 566.46M. Therefore, the gross margin over that period was 43.0%.

SBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a gross profit of 3.79B and revenue of 9.78B. Therefore, the gross margin over that period was 38.8%.

TAC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TransAlta Corp reported an operating income of 24.06M and revenue of 566.46M, resulting in an operating margin of 4.3%.

SBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported an operating income of 3.33B and revenue of 9.78B, resulting in an operating margin of 34.1%.

TAC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TransAlta Corp reported a net income of 13.03M and revenue of 566.46M, resulting in a net margin of 2.3%.

SBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a net income of 1.72B and revenue of 9.78B, resulting in a net margin of 17.6%.

Frequently Asked Questions

Can I hold both TAC and SBS in my portfolio?

TAC and SBS have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAC or SBS?

SBS has higher volatility (9.36%) compared to TAC (8.08%). In terms of maximum drawdown, TAC dropped -88.12% vs SBS's -76.49%.

Which has better risk-adjusted returns?

SBS currently has the higher Sharpe Ratio (1.32 vs 1.19), 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.