WCN.TO vs. RY.TO
WCN.TO (Waste Connections, Inc.) and RY.TO (Royal Bank of Canada) are both stocks. WCN.TO operates in Waste Management (Industrials), while RY.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, WCN.TO returned 18.98%/yr vs 18.12%/yr for RY.TO. At a 0.22 correlation, their price movements are largely independent.
Performance
WCN.TO vs. RY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, WCN.TO achieves a -8.90% return, which is significantly lower than RY.TO's 20.87% return. Both investments have delivered pretty close results over the past 10 years, with WCN.TO having a 18.98% annualized return and RY.TO not far behind at 18.12%.
WCN.TO
- 1D
- 0.55%
- 1M
- 1.38%
- YTD
- -8.90%
- 6M
- -7.68%
- 1Y
- -15.08%
- 3Y*
- 7.40%
- 5Y*
- 9.00%
- 10Y*
- 18.98%
RY.TO
- 1D
- 0.36%
- 1M
- 10.50%
- YTD
- 20.87%
- 6M
- 23.89%
- 1Y
- 65.59%
- 3Y*
- 35.54%
- 5Y*
- 21.56%
- 10Y*
- 18.12%
WCN.TO vs. RY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCN.TO Waste Connections, Inc. | -8.90% | -1.69% | 25.48% | 11.09% | 4.86% | 33.02% | 11.52% | 17.27% | 14.53% | 92.32% |
RY.TO Royal Bank of Canada | 20.87% | 39.60% | 34.37% | 9.80% | -1.52% | 33.09% | 6.52% | 14.33% | -5.50% | 17.12% |
Correlation
The correlation between WCN.TO and RY.TO is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.22 |
Over the past year, the correlation between WCN.TO and RY.TO has dropped to 0.02 - well below their long-term average of 0.22, suggesting their price drivers have been diverging.
Fundamentals
WCN.TO:
CA$55.87B
RY.TO:
CA$389.54B
WCN.TO:
$4.09
RY.TO:
CA$15.77
WCN.TO:
38.23
RY.TO:
17.69
WCN.TO:
1.82
RY.TO:
2.60
WCN.TO:
4.20
RY.TO:
3.25
WCN.TO:
4.96
RY.TO:
3.01
WCN.TO:
$9.57B
RY.TO:
CA$120.33B
WCN.TO:
$3.76B
RY.TO:
CA$65.64B
WCN.TO:
$2.97B
RY.TO:
CA$14.74B
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Return for Risk
WCN.TO vs. RY.TO — Risk / Return Rank
WCN.TO
RY.TO
WCN.TO vs. RY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Connections, Inc. (WCN.TO) and Royal Bank of Canada (RY.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.
| WCN.TO | RY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.36 | ||
| Sortino ratioReturn per unit of downside risk | -7.52 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.85 | -0.97 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 7.91 | -8.64 |
| Martin ratioReturn relative to average drawdown | -1.36 | 29.39 | -30.75 |
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Drawdowns
WCN.TO vs. RY.TO - Drawdown Comparison
The maximum WCN.TO drawdown since its inception was -71.10%, which is greater than RY.TO's maximum drawdown of -54.03%. Use the drawdown chart below to compare losses from any high point for WCN.TO and RY.TO.
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Drawdown Indicators
| WCN.TO | RY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.10% | -54.03% | -17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -21.51% | -8.12% | -13.39% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -16.00% | -10.21% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -21.21% | -5.00% |
Max Drawdown (10Y)Largest decline over 10 years | -26.53% | -33.84% | +7.31% |
Current DrawdownCurrent decline from peak | -21.70% | 0.00% | -21.70% |
Average DrawdownAverage peak-to-trough decline | -10.25% | -6.72% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.43% | 2.18% | +9.25% |
Volatility
WCN.TO vs. RY.TO - Volatility Comparison
Waste Connections, Inc. (WCN.TO) has a higher volatility of 5.88% compared to Royal Bank of Canada (RY.TO) at 4.23%. This indicates that WCN.TO's price experiences larger fluctuations and is considered to be riskier than RY.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 | RY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 4.23% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 10.44% | +7.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.04% | 13.82% | +8.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.59% | 14.93% | +3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.81% | 17.26% | +7.55% |
Dividends
WCN.TO vs. RY.TO - Dividend Comparison
WCN.TO's dividend yield for the trailing twelve months is around 0.86%, less than RY.TO's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RY.TO Royal Bank of Canada | 2.28% | 2.58% | 3.23% | 3.99% | 3.90% | 3.22% | 4.10% | 3.96% | 4.03% | 3.39% | 3.57% | 4.15% |
WCN.TO Waste Connections, Inc. | 0.86% | 0.75% | 0.65% | 0.72% | 0.68% | 0.61% | 0.78% | 0.75% | 0.74% | 0.74% | 1.22% | 1.09% |
Financials
WCN.TO vs. RY.TO - Financials Comparison
This section allows you to compare key financial metrics between Waste Connections, Inc. and Royal Bank of Canada. 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. RY.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%.
RY.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a gross profit of 16.52B and revenue of 33.95B. Therefore, the gross margin over that period was 48.7%.
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%.
RY.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported an operating income of 7.10B and revenue of 33.95B, resulting in an operating margin of 20.9%.
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%.
RY.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a net income of 5.51B and revenue of 33.95B, resulting in a net margin of 16.2%.
Frequently Asked Questions
WCN.TO and RY.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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