TPZ.TO vs. CP.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Topaz Energy Corp. (TPZ.TO) and Canadian Pacific Railway Limited (CP.TO).

Performance

TPZ.TO vs. CP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Topaz Energy Corp. (TPZ.TO) and Canadian Pacific Railway Limited (CP.TO). The values are adjusted to include any dividend payments, if applicable.

TPZ.TO vs. CP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TPZ.TO Topaz Energy Corp.	10.90%	4.23%	51.69%	-2.50%	24.58%	38.38%	6.06%
CP.TO Canadian Pacific Railway Limited	7.54%	-2.09%	-0.05%	4.62%	12.00%	3.91%	5.31%

Fundamentals

Market Cap TPZ.TO : CA$4.67B CP.TO : CA$97.42B
EPS TPZ.TO : CA$0.83 CP.TO : CA$4.54
PE Ratio TPZ.TO : 36.25 CP.TO : 23.87
PEG Ratio TPZ.TO : 0.45 CP.TO : 10.03
PS Ratio TPZ.TO : 14.20 CP.TO : 6.56
PB Ratio TPZ.TO : 3.07 CP.TO : 2.12
Total Revenue (TTM) TPZ.TO : CA$328.60M CP.TO : CA$15.08B
Gross Profit (TTM) TPZ.TO : CA$216.90M CP.TO : CA$6.08B
EBITDA (TTM) TPZ.TO : CA$325.95M CP.TO : CA$8.37B

Returns By Period

In the year-to-date period, TPZ.TO achieves a 10.90% return, which is significantly higher than CP.TO's 7.54% return.

TPZ.TO

• 1D: -2.30%
• 1M: -3.99%
• YTD: 10.90%
• 6M: 18.66%
• 1Y: 28.91%
• 3Y*: 22.99%
• 5Y*: 22.20%
• 10Y*: —

CP.TO

• 1D: -0.94%
• 1M: -11.10%
• YTD: 7.54%
• 6M: 4.40%
• 1Y: 7.54%
• 3Y*: 2.16%
• 5Y*: 3.16%
• 10Y*: 13.22%

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

Return for Risk

TPZ.TO vs. CP.TO — Risk / Return Rank

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

TPZ.TO

TPZ.TO Risk / Return Rank: 77
TPZ.TO Sharpe Ratio Rank: 79
TPZ.TO Sortino Ratio Rank: 72
TPZ.TO Omega Ratio Rank: 74
TPZ.TO Calmar Ratio Rank: 78
TPZ.TO Martin Ratio Rank: 82

CP.TO

CP.TO Risk / Return Rank: 49
CP.TO Sharpe Ratio Rank: 52
CP.TO Sortino Ratio Rank: 45
CP.TO Omega Ratio Rank: 43
CP.TO Calmar Ratio Rank: 54
CP.TO Martin Ratio Rank: 52

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.

TPZ.TO vs. CP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Topaz Energy Corp. (TPZ.TO) and Canadian Pacific Railway Limited (CP.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.

	TPZ.TO	CP.TO	Difference
Sharpe ratio Return per unit of total volatility	1.26	0.32	+0.94
Sortino ratio Return per unit of downside risk	1.72	0.67	+1.06
Omega ratio Gain probability vs. loss probability	1.25	1.08	+0.17
Calmar ratio Return relative to maximum drawdown	2.21	0.57	+1.63
Martin ratio Return relative to average drawdown	6.96	1.04	+5.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPZ.TO vs. CP.TO - Sharpe Ratio Comparison

The current TPZ.TO Sharpe Ratio is 1.26, which is higher than the CP.TO Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of TPZ.TO and CP.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TPZ.TO	CP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	0.32	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.14	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.50	+0.48

Correlation

The correlation between TPZ.TO and CP.TO is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TPZ.TO vs. CP.TO - Dividend Comparison

TPZ.TO's dividend yield for the trailing twelve months is around 4.50%, more than CP.TO's 0.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TPZ.TO Topaz Energy Corp.	4.50%	4.90%	4.67%	6.30%	5.21%	4.76%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%
CP.TO Canadian Pacific Railway Limited	0.84%	0.86%	0.73%	0.72%	0.89%	0.84%	0.81%	0.95%	1.04%	0.95%	0.97%	0.79%

Drawdowns

TPZ.TO vs. CP.TO - Drawdown Comparison

The maximum TPZ.TO drawdown since its inception was -24.75%, smaller than the maximum CP.TO drawdown of -62.01%. Use the drawdown chart below to compare losses from any high point for TPZ.TO and CP.TO.

Drawdown Indicators

	TPZ.TO	CP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-62.01%	+37.26%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-14.47%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-24.75%	-21.60%	-3.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.38%	—
Current Drawdown Current decline from peak	-6.12%	-11.10%	+4.98%
Average Drawdown Average peak-to-trough decline	-7.33%	-12.86%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	7.96%	-3.51%

Volatility

TPZ.TO vs. CP.TO - Volatility Comparison

Topaz Energy Corp. (TPZ.TO) has a higher volatility of 6.69% compared to Canadian Pacific Railway Limited (CP.TO) at 5.86%. This indicates that TPZ.TO's price experiences larger fluctuations and is considered to be riskier than CP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPZ.TO	CP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.69%	5.86%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	14.33%	15.98%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	23.17%	23.80%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.25%	22.13%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.81%	23.54%	+0.27%

Financials

TPZ.TO vs. CP.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Topaz Energy Corp. and Canadian Pacific Railway Limited over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TPZ.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Topaz Energy Corp. reported a gross profit of 83.37M and revenue of 84.40M. Therefore, the gross margin over that period was 98.8%.

CP.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Canadian Pacific Railway Limited reported a gross profit of 280.00M and revenue of 3.92B. Therefore, the gross margin over that period was 7.1%.

TPZ.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Topaz Energy Corp. reported an operating income of 75.25M and revenue of 84.40M, resulting in an operating margin of 89.2%.

CP.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Canadian Pacific Railway Limited reported an operating income of 1.68B and revenue of 3.92B, resulting in an operating margin of 42.7%.

TPZ.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Topaz Energy Corp. reported a net income of 76.94M and revenue of 84.40M, resulting in a net margin of 91.2%.

CP.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Canadian Pacific Railway Limited reported a net income of 1.08B and revenue of 3.92B, resulting in a net margin of 27.5%.