CP vs PAPL: Correlation
Canadian Pacific Kansas City Limited (CP) and Pineapple Financial Inc. (PAPL) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CP and PAPL?
Over the past 3 years, CP and PAPL moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.20 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -751.0 %².
Among the 10 assets we track against CP, PAPL sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months CP outperformed by 93.6 percentage points (+22.9% for CP against -70.7% for PAPL). Note the risk asymmetry: PAPL runs 8.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CP vs PAPL: side by side
| CP (Canadian Pacific Kansas City Limited) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +22.9% | -70.7% |
| 5-year return | +35.4% | n/a |
| Volatility (ann.) | 20.9% | 181.2% |
| Beta vs S&P 500 | 0.51 | -0.73 |
| Max drawdown (3Y) | -25.9% | -99.4% |
| Market cap | $82.5B | – |
| P/E (trailing) | 30.5 | – |
| Dividend yield | 1.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CP | PAPL |
|---|---|---|
| 2022 | +4.7% | – |
| 2023 | +6.8% | – |
| 2024 | -7.8% | -74.7% |
| 2025 | +2.4% | -84.4% |
| 2026 | +28.0% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CP and PAPL good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CP and PAPL?
The CP/PAPL correlation stands at -0.20 on a 3-year window (1 year: 0.03, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PAPL a good diversifier for CP?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cp-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cp-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CP correlations · PAPL correlations
