Tax-loss harvesting alternatives for CP

Among the 3 Railroads peers screened, UNP (Union Pacific) has tracked CP most closely over the past year, with a return correlation of 0.60. The strongest fund stand-in is IYT (iShares Transportation Average) at 0.57 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

Run this search live in the Screener →

STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
UNP	Union Pacific	Railroads	0.60	0.58	0.62	0.67
NSC	Norfolk Southern	Railroads	0.56	0.53	0.61	0.67
CSX	CSX Corp.	Railroads	0.56	0.53	0.61	0.64

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.57	0.60	0.63	0.68
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.47	0.54	0.59	0.67
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.47	0.53	0.59	0.66
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.47	0.54	0.60	0.67
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.45	0.54	0.60	0.67
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.45	0.55	0.55	0.61
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.45	0.54	0.60	0.67
JETS	US Global Jets ETF	Airlines	SUB-IND	0.31	0.45	0.43	0.47
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.28	0.36	0.46	0.57
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.27	0.32	0.41	0.53
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.24	0.34	0.42	0.53
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.19	0.39	0.44	0.54

NEXT STEPS

Harvesting a loss in CP?

Estimate what the harvest could save →Check the eight wash-sale traps →Document the trade with a Tax Memo →

Replacement research for CP's peers

UNP NSC CSX

Browse all tickers →

Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.