WCN.TO vs. X.TO
WCN.TO (Waste Connections, Inc.) and X.TO (TMX Group Limited) are both stocks. WCN.TO operates in Waste Management (Industrials), while X.TO operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, WCN.TO returned 18.98%/yr vs 30.69%/yr for X.TO. At a 0.18 correlation, their price movements are largely independent.
Performance
WCN.TO vs. X.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 X.TO's -2.41% return. Over the past 10 years, WCN.TO has underperformed X.TO with an annualized return of 18.98%, while X.TO has yielded a comparatively higher 30.69% annualized return.
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%
X.TO
- 1D
- 0.74%
- 1M
- -5.58%
- YTD
- -2.41%
- 6M
- -0.90%
- 1Y
- -8.21%
- 3Y*
- 21.82%
- 5Y*
- 24.37%
- 10Y*
- 30.69%
WCN.TO vs. X.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% |
X.TO TMX Group Limited | -2.41% | 19.83% | 40.85% | 27.51% | 20.20% | 28.63% | 25.96% | 80.88% | 15.53% | 13.73% |
Correlation
The correlation between WCN.TO and X.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.18 |
Fundamentals
WCN.TO:
CA$55.87B
X.TO:
CA$14.10B
WCN.TO:
$4.09
X.TO:
CA$9.15
WCN.TO:
38.23
X.TO:
5.51
WCN.TO:
1.82
X.TO:
0.46
WCN.TO:
4.20
X.TO:
1.42
WCN.TO:
4.96
X.TO:
0.29
WCN.TO:
$9.57B
X.TO:
CA$9.91B
WCN.TO:
$3.76B
X.TO:
CA$4.54B
WCN.TO:
$2.97B
X.TO:
CA$4.93B
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Return for Risk
WCN.TO vs. X.TO — Risk / Return Rank
WCN.TO
X.TO
WCN.TO vs. X.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Connections, Inc. (WCN.TO) and TMX Group Limited (X.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 | X.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.95 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | -0.37 | -0.35 |
| Martin ratioReturn relative to average drawdown | -1.36 | -0.80 | -0.57 |
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Drawdowns
WCN.TO vs. X.TO - Drawdown Comparison
The maximum WCN.TO drawdown since its inception was -71.10%, which is greater than X.TO's maximum drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for WCN.TO and X.TO.
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Drawdown Indicators
| WCN.TO | X.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.10% | -51.85% | -19.25% |
Max Drawdown (1Y)Largest decline over 1 year | -21.51% | -22.81% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -22.81% | -3.40% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -22.81% | -3.40% |
Max Drawdown (10Y)Largest decline over 10 years | -26.53% | -27.26% | +0.73% |
Current DrawdownCurrent decline from peak | -21.70% | -11.37% | -10.33% |
Average DrawdownAverage peak-to-trough decline | -10.25% | -6.93% | -3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.43% | 10.66% | +0.77% |
Volatility
WCN.TO vs. X.TO - Volatility Comparison
The current volatility for Waste Connections, Inc. (WCN.TO) is 5.88%, while TMX Group Limited (X.TO) has a volatility of 8.91%. This indicates that WCN.TO experiences smaller price fluctuations and is considered to be less risky than X.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 | X.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 8.91% | -3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 18.48% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.04% | 23.45% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.59% | 20.66% | -2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.81% | 21.49% | +3.32% |
Dividends
WCN.TO vs. X.TO - Dividend Comparison
WCN.TO's dividend yield for the trailing twelve months is around 0.86%, less than X.TO's 1.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
X.TO TMX Group Limited | 1.82% | 1.61% | 1.69% | 6.55% | 12.25% | 23.74% | 10.70% | 11.20% | 15.83% | 13.84% | 11.54% | 22.35% |
Financials
WCN.TO vs. X.TO - Financials Comparison
This section allows you to compare key financial metrics between Waste Connections, Inc. and TMX Group Limited. 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. X.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%.
X.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TMX Group Limited reported a gross profit of 3.58B and revenue of 7.41B. Therefore, the gross margin over that period was 48.3%.
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%.
X.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TMX Group Limited reported an operating income of 2.39B and revenue of 7.41B, resulting in an operating margin of 32.2%.
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%.
X.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TMX Group Limited reported a net income of 2.25B and revenue of 7.41B, resulting in a net margin of 30.3%.
Frequently Asked Questions
WCN.TO and X.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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