ENB vs MO: Correlation
How closely do Enbridge Inc (ENB) and Altria (MO) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENB and MO?
On 3 years of weekly data the ENB/MO correlation comes out at 0.45, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.45 over 3 years. The 5-year figure is 0.39, and annualized covariance runs at 172.5 %².
Among the 14 assets we track against ENB, MO ranks #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +9.1% for ENB and +8.8% for MO.
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.
ENB vs MO: side by side
| ENB (Enbridge Inc) | MO (Altria) | |
|---|---|---|
| 1-year return | +9.1% | +8.8% |
| 5-year return | +71.0% | +100.4% |
| Volatility (ann.) | 17.6% | 21.8% |
| Beta vs S&P 500 | 0.05 | -0.07 |
| Max drawdown (3Y) | -13.1% | -16.4% |
| Market cap | $109.1B | $113.0B |
| P/E (trailing) | 26.7 | 14.6 |
| Dividend yield | 7.60% | 6.13% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ENB | MO |
|---|---|---|
| 2022 | +6.5% | +4.4% |
| 2023 | -1.1% | -3.7% |
| 2024 | +26.4% | +40.8% |
| 2025 | +17.8% | +18.2% |
| 2026 | +8.6% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENB and MO good diversifiers for each other?
Reasonably. At 0.45, ENB and MO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ENB and MO?
As of 2026-08-27, the correlation of weekly returns between ENB and MO is 0.45 over 3 years, 0.55 over 1 year and 0.39 over 5 years.
Is MO a good diversifier for ENB?
Reasonably. At 0.45, ENB and MO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enb-vs-mo.json
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Related comparisons
Hubs: ENB correlations · MO correlations
