X.TO vs. ACO-X.TO

Last updated Jun 13, 2026

X.TO (TMX Group Limited) and ACO-X.TO (ATCO Ltd) are both stocks. X.TO operates in Financial Data & Stock Exchanges (Financial Services), while ACO-X.TO operates in Utilities - Diversified (Utilities). Over the past 10 years, X.TO returned 30.69%/yr vs 9.15%/yr for ACO-X.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

X.TO vs. ACO-X.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TMX Group Limited (X.TO) and ATCO Ltd (ACO-X.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, X.TO achieves a -2.41% return, which is significantly lower than ACO-X.TO's 30.25% return. Over the past 10 years, X.TO has outperformed ACO-X.TO with an annualized return of 30.69%, while ACO-X.TO has yielded a comparatively lower 9.15% annualized return.

X.TO

• 1D: 0.74%
• 1M: -4.56%
• YTD: -2.41%
• 6M: -0.90%
• 1Y: -8.48%
• 3Y*: 21.82%
• 5Y*: 24.37%
• 10Y*: 30.69%

ACO-X.TO

• 1D: -0.45%
• 1M: 6.04%
• YTD: 30.25%
• 6M: 37.62%
• 1Y: 45.31%
• 3Y*: 26.35%
• 5Y*: 14.33%
• 10Y*: 9.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

X.TO vs. ACO-X.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
ACO-X.TO ATCO Ltd	30.25%	23.29%	28.83%	-4.26%	3.50%	22.23%	-23.55%	33.41%	-10.91%	3.62%

Correlation

The correlation between X.TO and ACO-X.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006	0.16

The correlation between X.TO and ACO-X.TO shifts across timeframes, from -0.13 (1 year) to 0.16 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap X.TO : CA$14.10B ACO-X.TO : CA$8.19B
EPS X.TO : CA$9.15 ACO-X.TO : CA$1.40
PE Ratio X.TO : 5.51 ACO-X.TO : 51.63
PEG Ratio X.TO : 0.46 ACO-X.TO : 2.46
PS Ratio X.TO : 1.42 ACO-X.TO : 1.58
PB Ratio X.TO : 0.29 ACO-X.TO : 1.76
Total Revenue (TTM) X.TO : CA$9.91B ACO-X.TO : CA$5.16B
Gross Profit (TTM) X.TO : CA$4.54B ACO-X.TO : CA$1.64B
EBITDA (TTM) X.TO : CA$4.93B ACO-X.TO : CA$2.10B

Return for Risk

X.TO vs. ACO-X.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

X.TO

X.TO Risk / Return Rank: 27
X.TO Sharpe Ratio Rank: 27
X.TO Sortino Ratio Rank: 24
X.TO Omega Ratio Rank: 24
X.TO Calmar Ratio Rank: 31
X.TO Martin Ratio Rank: 28

ACO-X.TO

ACO-X.TO Risk / Return Rank: 94
ACO-X.TO Sharpe Ratio Rank: 95
ACO-X.TO Sortino Ratio Rank: 95
ACO-X.TO Omega Ratio Rank: 94
ACO-X.TO Calmar Ratio Rank: 94
ACO-X.TO Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

X.TO vs. ACO-X.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TMX Group Limited (X.TO) and ATCO Ltd (ACO-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.

	X.TO	ACO-X.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	2.97	-3.33
Sortino ratio: Return per unit of downside risk	-0.35	3.92	-4.28
Omega ratio: Gain probability vs. loss probability	0.95	1.51	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.37	5.82	-6.19
Martin ratio: Return relative to average drawdown	-0.80	14.46	-15.25

X.TO vs. ACO-X.TO - Sharpe Ratio Comparison

The current X.TO Sharpe Ratio is -0.37, which is lower than the ACO-X.TO Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of X.TO and ACO-X.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

X.TO vs. ACO-X.TO - Drawdown Comparison

The maximum X.TO drawdown since its inception was -51.85%, which is greater than ACO-X.TO's maximum drawdown of -48.31%. Use the drawdown chart below to compare losses from any high point for X.TO and ACO-X.TO.

Drawdown Indicators

	X.TO	ACO-X.TO	Difference
Max Drawdown Largest peak-to-trough decline	-51.85%	-48.31%	-3.54%
Max Drawdown (1Y) Largest decline over 1 year	-22.81%	-7.83%	-14.98%
Max Drawdown (3Y) Largest decline over 3 years	-22.81%	-15.90%	-6.91%
Max Drawdown (5Y) Largest decline over 5 years	-22.81%	-26.85%	+4.04%
Max Drawdown (10Y) Largest decline over 10 years	-27.26%	-48.31%	+21.05%
Current Drawdown Current decline from peak	-11.37%	-0.86%	-10.51%
Average Drawdown Average peak-to-trough decline	-6.93%	-12.82%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.66%	3.14%	+7.52%

Volatility

X.TO vs. ACO-X.TO - Volatility Comparison

TMX Group Limited (X.TO) has a higher volatility of 8.91% compared to ATCO Ltd (ACO-X.TO) at 6.13%. This indicates that X.TO's price experiences larger fluctuations and is considered to be riskier than ACO-X.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	X.TO	ACO-X.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.91%	6.13%	+2.78%
Volatility (6M) Calculated over the trailing 6-month period	18.48%	11.64%	+6.84%
Volatility (1Y) Calculated over the trailing 1-year period	23.45%	15.43%	+8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.66%	15.77%	+4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.49%	20.58%	+0.91%

Dividends

X.TO vs. ACO-X.TO - Dividend Comparison

X.TO's dividend yield for the trailing twelve months is around 1.82%, less than ACO-X.TO's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACO-X.TO ATCO Ltd	2.83%	3.58%	4.12%	4.92%	4.36%	4.20%	4.77%	3.25%	3.90%	2.91%	2.55%	2.77%
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

X.TO vs. ACO-X.TO - Profitability Comparison

The chart below illustrates the profitability comparison between TMX Group Limited and ATCO Ltd over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

ACO-X.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ATCO Ltd reported a gross profit of 592.00M and revenue of 1.43B. Therefore, the gross margin over that period was 41.5%.

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%.

ACO-X.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ATCO Ltd reported an operating income of 401.00M and revenue of 1.43B, resulting in an operating margin of 28.1%.

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%.

ACO-X.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ATCO Ltd reported a net income of 152.00M and revenue of 1.43B, resulting in a net margin of 10.7%.

Frequently Asked Questions

Can I hold both X.TO and ACO-X.TO in my portfolio?

X.TO and ACO-X.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.