TRP vs. CNX
TRP (TC Energy Corporation) and CNX (CNX Resources Corporation) are both stocks. Both are in the Energy sector — TRP in Oil & Gas Midstream, CNX in Oil & Gas E&P. Over the past 10 years, TRP returned 10.43%/yr vs 6.13%/yr for CNX. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
TRP vs. CNX - Performance Comparison
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Returns By Period
In the year-to-date period, TRP achieves a 18.33% return, which is significantly higher than CNX's -6.06% return. Over the past 10 years, TRP has outperformed CNX with an annualized return of 10.43%, while CNX has yielded a comparatively lower 6.13% annualized return.
TRP
- 1D
- -2.31%
- 1M
- -4.62%
- 6M
- 9.79%
- YTD
- 18.33%
- 1Y
- 36.13%
- 3Y*
- 32.54%
- 5Y*
- 14.52%
- 10Y*
- 10.43%
- ALL TIME*
- 10.48%
CNX
- 1D
- -3.11%
- 1M
- 3.48%
- 6M
- -11.21%
- YTD
- -6.06%
- 1Y
- 18.21%
- 3Y*
- 17.87%
- 5Y*
- 23.77%
- 10Y*
- 6.13%
- ALL TIME*
- 6.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $63.27M | $59.96M | $63.24M | |
| $143.00M | $170.35M | $166.56M |
TRP vs. CNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRP TC Energy Corporation | 18.33% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
CNX CNX Resources Corporation | -6.06% | 0.27% | 83.35% | 18.76% | 22.47% | 27.31% | 22.03% | -22.50% | -21.94% | -19.75% |
Correlation
The correlation between TRP and CNX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 1999 | 0.31 |
Over the past year, the correlation between TRP and CNX has dropped to 0.09 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
TRP:
$66.48B
CNX:
$5.11B
TRP:
CA$3.45
CNX:
$5.98
TRP:
26.01
CNX:
5.77
TRP:
0.36
CNX:
0.00
TRP:
5.84
CNX:
2.29
TRP:
3.67
CNX:
1.10
TRP:
CA$16.01B
CNX:
$2.39B
TRP:
CA$8.24B
CNX:
$921.84M
TRP:
CA$11.21B
CNX:
$1.89B
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Return for Risk
TRP vs. CNX — Risk / Return Rank
TRP
CNX
TRP vs. CNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) and CNX Resources Corporation (CNX). 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 | CNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.12 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 0.73 | +3.03 |
| Martin ratioReturn relative to average drawdown | 11.01 | 1.61 | +9.40 |
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Drawdowns
TRP vs. CNX - Drawdown Comparison
The maximum TRP drawdown since its inception was -62.52%, smaller than the maximum CNX drawdown of -95.41%. Use the drawdown chart below to compare losses from any high point for TRP and CNX.
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Drawdown Indicators
| TRP | CNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.52% | -95.41% | +32.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -24.92% | +15.27% |
Max Drawdown (3Y)Largest decline over 3 years | -12.84% | -33.37% | +20.53% |
Max Drawdown (5Y)Largest decline over 5 years | -37.05% | -38.23% | +1.18% |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | -77.19% | +35.55% |
Current DrawdownCurrent decline from peak | -9.53% | -68.17% | +58.64% |
Average DrawdownAverage peak-to-trough decline | -11.69% | -58.48% | +46.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 11.31% | -8.02% |
Volatility
TRP vs. CNX - Volatility Comparison
The current volatility for TC Energy Corporation (TRP) is 6.23%, while CNX Resources Corporation (CNX) has a volatility of 8.32%. This indicates that TRP experiences smaller price fluctuations and is considered to be less risky than CNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRP | CNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.23% | 8.32% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 20.35% | -6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.35% | 28.51% | -10.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 35.05% | -13.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.90% | 48.01% | -23.11% |
Dividends
TRP vs. CNX - Dividend Comparison
TRP's dividend yield for the trailing twelve months is around 3.88%, while CNX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNX CNX Resources Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 1.84% |
TRP TC Energy Corporation | 3.88% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
TRP vs. CNX - Financials Comparison
This section allows you to compare key financial metrics between TC Energy Corporation and CNX Resources 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 vs. CNX - Profitability Comparison
TRP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, TC Energy Corporation reported a gross profit of 2.01B and revenue of 3.99B. Therefore, the gross margin over that period was 50.4%.
CNX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, CNX Resources Corporation reported a gross profit of 0.00 and revenue of 618.48M. Therefore, the gross margin over that period was 0.0%.
TRP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, TC Energy Corporation reported an operating income of 1.79B and revenue of 3.99B, resulting in an operating margin of 44.7%.
CNX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, CNX Resources Corporation reported an operating income of 2.03M and revenue of 618.48M, resulting in an operating margin of 0.3%.
TRP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, TC Energy Corporation reported a net income of 1.02B and revenue of 3.99B, resulting in a net margin of 25.5%.
CNX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, CNX Resources Corporation reported a net income of 202.94M and revenue of 618.48M, resulting in a net margin of 32.8%.
Frequently Asked Questions
TRP and CNX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNX has higher volatility (8.32%) compared to TRP (6.23%). In terms of maximum drawdown, TRP dropped -62.52% vs CNX's -95.41%.
TRP currently has the higher Sharpe Ratio (1.98 vs 0.64), 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.
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