TVE.TO vs. BTE.TO
TVE.TO (Tamarack Valley Energy Ltd.) and BTE.TO (Baytex Energy Corp.) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 10 years, TVE.TO returned 15.37%/yr vs -0.83%/yr for BTE.TO. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
TVE.TO vs. BTE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TVE.TO achieves a 65.14% return, which is significantly higher than BTE.TO's 34.12% return. Over the past 10 years, TVE.TO has outperformed BTE.TO with an annualized return of 15.37%, while BTE.TO has yielded a comparatively lower -0.83% annualized return.
TVE.TO
- 1D
- -0.91%
- 1M
- 3.48%
- 6M
- 56.51%
- YTD
- 65.14%
- 1Y
- 163.12%
- 3Y*
- 58.38%
- 5Y*
- 44.56%
- 10Y*
- 15.37%
- ALL TIME*
- 7.02%
BTE.TO
- 1D
- 0.51%
- 1M
- 3.50%
- 6M
- 28.34%
- YTD
- 34.12%
- 1Y
- 124.10%
- 3Y*
- 9.74%
- 5Y*
- 24.76%
- 10Y*
- -0.83%
- ALL TIME*
- -3.63%
TVE.TO vs. BTE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TVE.TO Tamarack Valley Energy Ltd. | 65.14% | 71.65% | 62.29% | -28.32% | 18.84% | 203.15% | -36.50% | -15.25% | -17.48% | -17.34% |
BTE.TO Baytex Energy Corp. | 34.12% | 23.42% | -13.66% | -27.30% | 55.50% | 466.67% | -63.10% | -22.41% | -36.07% | -42.53% |
Correlation
The correlation between TVE.TO and BTE.TO is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2008 | 0.51 |
The correlation between TVE.TO and BTE.TO shifts across timeframes, from 0.51 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TVE.TO:
CA$6.26B
BTE.TO:
CA$4.37B
TVE.TO:
-CA$0.19
BTE.TO:
-CA$0.97
TVE.TO:
4.49
BTE.TO:
5.11
TVE.TO:
3.64
BTE.TO:
2.07
TVE.TO:
CA$1.44B
BTE.TO:
CA$883.05M
TVE.TO:
CA$560.03M
BTE.TO:
CA$159.16M
TVE.TO:
CA$596.84M
BTE.TO:
CA$448.50M
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Return for Risk
TVE.TO vs. BTE.TO — Risk / Return Rank
TVE.TO
BTE.TO
TVE.TO vs. BTE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tamarack Valley Energy Ltd. (TVE.TO) and Baytex Energy Corp. (BTE.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.
| TVE.TO | BTE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.41 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 13.28 | 5.02 | +8.27 |
| Martin ratioReturn relative to average drawdown | 39.96 | 15.05 | +24.91 |
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Drawdowns
TVE.TO vs. BTE.TO - Drawdown Comparison
The maximum TVE.TO drawdown since its inception was -94.30%, smaller than the maximum BTE.TO drawdown of -99.37%. Use the drawdown chart below to compare losses from any high point for TVE.TO and BTE.TO.
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Drawdown Indicators
| TVE.TO | BTE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.30% | -99.37% | +5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -24.88% | +12.52% |
Max Drawdown (3Y)Largest decline over 3 years | -34.89% | -66.04% | +31.15% |
Max Drawdown (5Y)Largest decline over 5 years | -53.72% | -76.10% | +22.38% |
Max Drawdown (10Y)Largest decline over 10 years | -91.68% | -95.89% | +4.21% |
Current DrawdownCurrent decline from peak | -5.81% | -86.47% | +80.66% |
Average DrawdownAverage peak-to-trough decline | -50.91% | -59.69% | +8.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 8.28% | -4.18% |
Volatility
TVE.TO vs. BTE.TO - Volatility Comparison
The current volatility for Tamarack Valley Energy Ltd. (TVE.TO) is 9.37%, while Baytex Energy Corp. (BTE.TO) has a volatility of 10.28%. This indicates that TVE.TO experiences smaller price fluctuations and is considered to be less risky than BTE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TVE.TO | BTE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.37% | 10.28% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 29.35% | 29.96% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.95% | 44.49% | -8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.19% | 52.08% | -8.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.89% | 63.25% | -10.36% |
Dividends
TVE.TO vs. BTE.TO - Dividend Comparison
TVE.TO's dividend yield for the trailing twelve months is around 1.20%, less than BTE.TO's 1.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTE.TO Baytex Energy Corp. | 1.52% | 2.03% | 2.43% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 17.37% |
TVE.TO Tamarack Valley Energy Ltd. | 1.20% | 1.93% | 3.15% | 4.90% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
TVE.TO vs. BTE.TO - Financials Comparison
This section allows you to compare key financial metrics between Tamarack Valley Energy Ltd. and Baytex Energy Corp.. 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
TVE.TO vs. BTE.TO - Profitability Comparison
TVE.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Tamarack Valley Energy Ltd. reported a gross profit of 182.80M and revenue of 375.55M. Therefore, the gross margin over that period was 48.7%.
BTE.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Baytex Energy Corp. reported a gross profit of 91.67M and revenue of 401.37M. Therefore, the gross margin over that period was 22.8%.
TVE.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Tamarack Valley Energy Ltd. reported an operating income of 163.31M and revenue of 375.55M, resulting in an operating margin of 43.5%.
BTE.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Baytex Energy Corp. reported an operating income of 46.50M and revenue of 401.37M, resulting in an operating margin of 11.6%.
TVE.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Tamarack Valley Energy Ltd. reported a net income of 5.65M and revenue of 375.55M, resulting in a net margin of 1.5%.
BTE.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Baytex Energy Corp. reported a net income of -67.33M and revenue of 401.37M, resulting in a net margin of -16.8%.
Frequently Asked Questions
TVE.TO and BTE.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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