Enbridge Correlations

EN3 Stock

EUR 45.09 1.37 3.13%

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.

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 Stock

0.67	23J	Promis Neurosciences Split	Pair Corr
0.62	NPV	Nippon Carbon	Pair Corr

Moving against Enbridge Stock

0.64	GE9	Genmab A/S Earnings Call Tomorrow	Pair Corr
0.62	AMZ1	AMAZONCOM INCCDR	Pair Corr
0.59	PJM	PT Bumi Resources	Pair Corr

Related Correlations Analysis

	TKDA	GE9	CLN	R7I	5QG	2HZ	14D	GE0
TKDA		0.18	0.93	-0.31	0.53	0.91	-0.76	0.38	TKDA
GE9	0.18		0.21	-0.39	0.57	0.11	-0.11	0.34	GE9
CLN	0.93	0.21		-0.45	0.63	0.89	-0.7	0.58	CLN
R7I	-0.31	-0.39	-0.45		-0.61	-0.26	0.25	-0.61	R7I
5QG	0.53	0.57	0.63	-0.61		0.44	-0.47	0.73	5QG
2HZ	0.91	0.11	0.89	-0.26	0.44		-0.63	0.39	2HZ
14D	-0.76	-0.11	-0.7	0.25	-0.47	-0.63		-0.21	14D
GE0	0.38	0.34	0.58	-0.61	0.73	0.39	-0.21		GE0
	TKDA	GE9	CLN	R7I	5QG	2HZ	14D	GE0

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CLN	+ 0.93	TKDA
2HZ	+ 0.91	TKDA
2HZ	+ 0.89	CLN
GE0	+ 0.73	5QG
5QG	+ 0.63	CLN
GE0	+ 0.58	CLN

High negative correlations

14D	- 0.76	TKDA
14D	- 0.7	CLN
14D	- 0.63	2HZ
GE0	- 0.61	R7I
5QG	- 0.61	R7I
14D	- 0.47	5QG

Risk-Adjusted Indicators

There is a big difference between Enbridge Stock 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
TKDA	0.95	0.44	0.35	(5.39)	0.33	(1.39)	2.78	(1.44)	4.93
GE9	1.65	0.03	0.00	0.12	2.00	(1.66)	4.48	(3.42)	9.60
CLN	1.06	0.15	0.07	0.81	1.15	(1.20)	2.97	(2.21)	6.98
R7I	1.32	(0.02)	(0.02)	0.02	1.61	(2.31)	3.80	(3.61)	11.13
5QG	4.29	0.69	0.11	(5.74)	4.98	(4.61)	11.93	(8.63)	40.57
2HZ	1.04	0.11	0.04	0.62	1.17	(1.32)	2.21	(2.62)	6.85
14D	3.32	(0.41)	0.00	(0.05)	0.00	0.00	6.02	(9.09)	56.92
GE0	103.70	46.96	1.48	1.19	22.56	(160.50)	248.33	(46.15)	1,837

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?

Run Portfolio Suggestion Now

Portfolio Suggestion

Get suggestions outside of your existing asset allocation including your own model portfolios

All Next

Launch Module

Enbridge Corporate Management

Elected by the shareholders, the Enbridge's board of directors comprises two types of representatives: Enbridge inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enbridge. The board's role is to monitor Enbridge's management team and ensure that shareholders' interests are well served. Enbridge's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Enbridge's outside directors are responsible for providing unbiased perspectives on the board's policies.

Melissa LaForge	Senior Officer	Profile
Colin Gruending	Executive Pipelines	Profile
Reginald JD	Executive Officer	Profile
Bhushan Ivaturi	VP Officer	Profile
Dean Patry	Senior Officer	Profile
David Bryson	VP Midstream	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC