Enbridge, Inc (ENB) — Stock Correlations & Overview
Over the past year, ENB has moved most closely with TRP, TPYP, TOLZ. Explore the stocks most correlated and inversely correlated with ENB below, along with its price, financials, and company profile.
Stocks correlated with ENB
Correlation of daily returns. Higher positive values move with ENB; negative values move opposite it. Informational only, not investment advice.
Most correlated with ENB
| Symbol | Company | Correlation |
|---|---|---|
| TRP | TC Energy Corporation | 0.81 |
| TPYP | Tortoise North American Pipeline ETF | 0.73 |
| TOLZ | ProShares DJ Brookfield Global Infrastructure ETF | 0.72 |
| MLPX | Global X MLP & Energy Infrastructure ETF | 0.71 |
| UMI | USCF Midstream Energy Income Fund | 0.71 |
Most inversely correlated with ENB
| Symbol | Company | Correlation |
|---|---|---|
| SDP | ProShares UltraShort Utilities | -0.44 |
| DUG | ProShares UltraShort Energy | -0.37 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.37 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.36 |
| DRV | Direxion Daily Real Estate Bear 3X ETF | -0.32 |
Frequently asked questions about ENB correlations
- Which stocks are most correlated with ENB?
- Based on one year of daily returns, the stocks most correlated with Enbridge, Inc (ENB) are TRP (0.81), TPYP (0.73) and TOLZ (0.72). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ENB?
- Over the past year, the stocks most inversely correlated with Enbridge, Inc (ENB) are SDP (-0.44), DUG (-0.37) and ERY (-0.37). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ENB correlations calculated?
- We compute the correlation of daily returns between ENB and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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