WCN.TO vs. GFL.TO
WCN.TO (Waste Connections, Inc.) and GFL.TO (GFL Environmental Inc.) are both stocks. Both operate in the Waste Management industry within the Industrials sector. Over the past 5 years, WCN.TO returned 8.21%/yr vs 4.85%/yr for GFL.TO. At a 0.43 correlation, their price movements are largely independent.
Performance
WCN.TO vs. GFL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, WCN.TO achieves a -12.54% return, which is significantly higher than GFL.TO's -18.12% return.
WCN.TO
- 1D
- 1.70%
- 1M
- -3.88%
- YTD
- -12.54%
- 6M
- -13.42%
- 1Y
- -20.31%
- 3Y*
- 4.60%
- 5Y*
- 8.21%
- 10Y*
- 14.35%
GFL.TO
- 1D
- 3.25%
- 1M
- -6.18%
- YTD
- -18.12%
- 6M
- -22.94%
- 1Y
- -28.70%
- 3Y*
- -1.31%
- 5Y*
- 4.85%
- 10Y*
- —
WCN.TO vs. GFL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
WCN.TO Waste Connections, Inc. | -12.54% | -1.70% | 25.48% | 11.09% | 4.86% | 33.02% | 0.12% |
GFL.TO GFL Environmental Inc. | -18.12% | -7.87% | 40.40% | 15.78% | -17.18% | 29.09% | 65.94% |
Correlation
The correlation between WCN.TO and GFL.TO is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2020 | 0.43 |
The correlation between WCN.TO and GFL.TO shifts across timeframes, from 0.43 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
WCN.TO:
CA$53.64B
GFL.TO:
CA$17.29B
WCN.TO:
CA$4.09
GFL.TO:
CA$0.56
WCN.TO:
51.31
GFL.TO:
85.44
WCN.TO:
2.45
GFL.TO:
0.01
WCN.TO:
5.63
GFL.TO:
2.66
WCN.TO:
6.65
GFL.TO:
2.38
WCN.TO:
CA$9.57B
GFL.TO:
CA$6.70B
WCN.TO:
CA$3.76B
GFL.TO:
CA$1.38B
WCN.TO:
CA$2.97B
GFL.TO:
CA$2.16B
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Return for Risk
WCN.TO vs. GFL.TO — Risk / Return Rank
WCN.TO
GFL.TO
WCN.TO vs. GFL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Connections, Inc. (WCN.TO) and GFL Environmental Inc. (GFL.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.
| WCN.TO | GFL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.80 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.83 | -0.11 |
| Martin ratioReturn relative to average drawdown | -1.83 | -1.88 | +0.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WCN.TO | GFL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.94 | -1.12 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.17 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.42 | +0.25 |
Drawdowns
WCN.TO vs. GFL.TO - Drawdown Comparison
The maximum WCN.TO drawdown since its inception was -70.07%, which is greater than GFL.TO's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for WCN.TO and GFL.TO.
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Drawdown Indicators
| WCN.TO | GFL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.07% | -39.28% | -30.79% |
Max Drawdown (1Y)Largest decline over 1 year | -21.51% | -34.50% | +12.99% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -34.94% | +8.73% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -39.28% | +13.07% |
Max Drawdown (10Y)Largest decline over 10 years | -26.53% | — | — |
Current DrawdownCurrent decline from peak | -24.82% | -32.15% | +7.33% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -12.46% | +3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.41% | 15.29% | -3.88% |
Volatility
WCN.TO vs. GFL.TO - Volatility Comparison
The current volatility for Waste Connections, Inc. (WCN.TO) is 5.25%, while GFL Environmental Inc. (GFL.TO) has a volatility of 7.74%. This indicates that WCN.TO experiences smaller price fluctuations and is considered to be less risky than GFL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCN.TO | GFL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.25% | 7.74% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 17.96% | 21.49% | -3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.72% | 25.67% | -3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.51% | 28.57% | -10.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 31.92% | -12.63% |
Dividends
WCN.TO vs. GFL.TO - Dividend Comparison
WCN.TO's dividend yield for the trailing twelve months is around 0.90%, more than GFL.TO's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GFL.TO GFL Environmental Inc. | 0.18% | 0.14% | 0.12% | 0.15% | 0.18% | 0.14% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WCN.TO Waste Connections, Inc. | 0.90% | 0.75% | 0.65% | 0.72% | 0.68% | 0.61% | 0.93% | 0.75% | 2.95% | 0.87% | 0.96% | 2.02% |
Financials
WCN.TO vs. GFL.TO - Financials Comparison
This section allows you to compare key financial metrics between Waste Connections, Inc. and GFL Environmental Inc.. 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
WCN.TO vs. GFL.TO - Profitability Comparison
WCN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a gross profit of 683.40M and revenue of 2.33B. Therefore, the gross margin over that period was 29.3%.
GFL.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a gross profit of 299.80M and revenue of 1.64B. Therefore, the gross margin over that period was 18.2%.
WCN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported an operating income of 358.11M and revenue of 2.33B, resulting in an operating margin of 15.4%.
GFL.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported an operating income of 34.00M and revenue of 1.64B, resulting in an operating margin of 2.1%.
WCN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a net income of 215.75M and revenue of 2.33B, resulting in a net margin of 9.3%.
GFL.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a net income of -215.70M and revenue of 1.64B, resulting in a net margin of -13.1%.
Frequently Asked Questions
WCN.TO and GFL.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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