TRP.TO vs. CVX
TRP.TO (TC Energy Corporation) and CVX (Chevron Corporation) are both stocks. Both are in the Energy sector — TRP.TO in Oil & Gas Midstream, CVX in Oil & Gas Integrated. Over the past 10 years, TRP.TO returned 11.53%/yr vs 11.89%/yr for CVX. At a 0.31 correlation, their price movements are largely independent.
Performance
TRP.TO vs. CVX - Performance Comparison
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Different Trading Currencies
TRP.TO is traded in CAD, while CVX is traded in USD. To make them comparable, the CVX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TRP.TO achieves a 29.69% return, which is significantly higher than CVX's 27.72% return. Both investments have delivered pretty close results over the past 10 years, with TRP.TO having a 11.53% annualized return and CVX not far ahead at 11.89%.
TRP.TO
- 1D
- 0.20%
- 1M
- 3.23%
- YTD
- 29.69%
- 6M
- 31.68%
- 1Y
- 50.78%
- 3Y*
- 28.32%
- 5Y*
- 14.85%
- 10Y*
- 11.53%
CVX
- 1D
- 0.94%
- 1M
- 0.66%
- YTD
- 27.72%
- 6M
- 29.01%
- 1Y
- 37.38%
- 3Y*
- 11.90%
- 5Y*
- 19.74%
- 10Y*
- 11.89%
TRP.TO vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRP.TO TC Energy Corporation | 29.69% | 18.35% | 37.67% | 2.53% | -2.77% | 20.34% | -20.74% | 48.49% | -16.01% | 5.23% |
CVX Chevron Corporation | 27.72% | 5.08% | 9.86% | -15.69% | 68.50% | 46.17% | -27.71% | 10.52% | -2.16% | 3.10% |
Correlation
The correlation between TRP.TO and CVX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.31 |
The correlation between TRP.TO and CVX shifts across timeframes, from 0.12 (1 year) to 0.32 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
TRP.TO:
CA$101.12B
CVX:
$371.80B
TRP.TO:
CA$3.31
CVX:
$5.75
TRP.TO:
29.36
CVX:
32.54
TRP.TO:
0.39
CVX:
3.17
TRP.TO:
6.41
CVX:
1.93
TRP.TO:
4.00
CVX:
2.02
TRP.TO:
CA$15.76B
CVX:
$185.89B
TRP.TO:
CA$8.07B
CVX:
$47.27B
TRP.TO:
CA$10.90B
CVX:
$40.44B
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Return for Risk
TRP.TO vs. CVX — Risk / Return Rank
TRP.TO
CVX
TRP.TO vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP.TO) and Chevron Corporation (CVX). 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.
| TRP.TO | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.29 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 2.47 | +3.18 |
| Martin ratioReturn relative to average drawdown | 16.62 | 6.57 | +10.05 |
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Drawdowns
TRP.TO vs. CVX - Drawdown Comparison
The maximum TRP.TO drawdown since its inception was -36.30%, smaller than the maximum CVX drawdown of -51.76%. Use the drawdown chart below to compare losses from any high point for TRP.TO and CVX.
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Drawdown Indicators
| TRP.TO | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.30% | -51.76% | +15.46% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -15.29% | +6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -15.48% | -22.90% | +7.42% |
Max Drawdown (5Y)Largest decline over 5 years | -34.02% | -22.90% | -11.12% |
Max Drawdown (10Y)Largest decline over 10 years | -36.30% | -51.76% | +15.46% |
Current DrawdownCurrent decline from peak | -0.88% | -9.86% | +8.98% |
Average DrawdownAverage peak-to-trough decline | -8.45% | -9.04% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 5.74% | -2.66% |
Volatility
TRP.TO vs. CVX - Volatility Comparison
The current volatility for TC Energy Corporation (TRP.TO) is 5.44%, while Chevron Corporation (CVX) has a volatility of 7.74%. This indicates that TRP.TO experiences smaller price fluctuations and is considered to be less risky than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRP.TO | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 7.74% | -2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.67% | 18.34% | -5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.90% | 22.41% | -5.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 25.70% | -6.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.23% | 29.77% | -6.54% |
Dividends
TRP.TO vs. CVX - Dividend Comparison
TRP.TO's dividend yield for the trailing twelve months is around 3.53%, less than CVX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.73% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
TRP.TO TC Energy Corporation | 3.53% | 4.50% | 5.40% | 6.71% | 6.67% | 5.92% | 6.26% | 4.34% | 5.66% | 4.09% | 3.73% | 4.60% |
Financials
TRP.TO vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between TC Energy Corporation and Chevron 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
TRP.TO vs. CVX - Profitability Comparison
TRP.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.40B and revenue of 4.23B. Therefore, the gross margin over that period was 56.7%.
CVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported a gross profit of 4.55B and revenue of 47.56B. Therefore, the gross margin over that period was 9.6%.
TRP.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.23B, resulting in an operating margin of 52.1%.
CVX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported an operating income of 3.24B and revenue of 47.56B, resulting in an operating margin of 6.8%.
TRP.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 927.00M and revenue of 4.23B, resulting in a net margin of 21.9%.
CVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported a net income of 2.21B and revenue of 47.56B, resulting in a net margin of 4.7%.
Frequently Asked Questions
TRP.TO and CVX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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