Enbridge Correlations
| EBBNF Stock | USD 22.10 0.20 0.90% |
The current 90-days correlation between Enbridge and Kinder Morgan is 0.05 (i.e., Significant diversification). The correlation of Enbridge is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Enbridge Correlation With Market
Average diversification
The correlation between Enbridge and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enbridge and DJI in the same portfolio, assuming nothing else is changed.
Enbridge |
The ability to find closely correlated positions to Enbridge could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enbridge when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Enbridge - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Enbridge to buy it.
Moving together with Enbridge Pink Sheet
| 0.66 | WMB | Williams Companies | PairCorr |
| 0.62 | TRP-PB | TC Energy Corp | PairCorr |
| 0.71 | TRP | TC Energy Corp | PairCorr |
| 0.65 | TKURF | Tokyu REIT | PairCorr |
| 0.86 | MET | MetLife | PairCorr |
| 0.81 | JXN-PA | Jackson Financial | PairCorr |
| 0.71 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.66 | IBM | International Business Sell-off Trend | PairCorr |
| 0.73 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.62 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.74 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.91 | HD | Home Depot | PairCorr |
| 0.66 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
Moving against Enbridge Pink Sheet
| 0.82 | KSPI | Joint Stock | PairCorr |
| 0.45 | HYMTF | Hyundai Motor | PairCorr |
| 0.37 | SKM | SK Telecom | PairCorr |
| 0.64 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.62 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.48 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.43 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Enbridge Pink Sheet performing well and Enbridge Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Enbridge's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GLOP-PC | 0.32 | 0.05 | (0.07) | 1.03 | 0.66 | 0.56 | 8.42 | |||
| GLOP-PB | 0.26 | 0.03 | (0.24) | 0.35 | 0.16 | 0.55 | 1.40 | |||
| NGL-PC | 0.53 | 0.00 | (0.10) | 0.10 | 0.79 | 1.13 | 4.02 | |||
| SEAL-PA | 0.28 | 0.04 | (0.14) | 0.83 | 0.36 | 0.56 | 3.97 | |||
| KMI | 0.99 | 0.31 | 0.26 | 0.51 | 0.70 | 1.93 | 8.88 | |||
| OKE | 1.22 | 0.26 | 0.11 | 0.57 | 1.62 | 2.90 | 8.37 | |||
| MPLX | 0.73 | 0.25 | 0.29 | 0.73 | 0.00 | 2.24 | 3.38 | |||
| EPD | 0.63 | 0.20 | 0.17 | 0.67 | 0.35 | 1.76 | 3.75 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Enbridge without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Enbridge Corporate Management
| Jonathan Morgan | VP Relations | Profile | |
| Bhushan Ivaturi | VP Officer | Profile | |
| David Bryson | VP Midstream | Profile | |
| QC LLB | Ex Officer | Profile |