ENB vs PM: Correlation
Enbridge Inc (ENB) and Philip Morris International (PM) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENB and PM?
Across a 3-year window, the weekly returns of ENB and PM correlate at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 151.7 %².
Within ENB's tracked universe of 14 assets, PM comes in at #7 by 3-year correlation. On 12-month performance PM holds a 11.1-point edge, +9.1% against +20.2%.
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 PM: side by side
| ENB (Enbridge Inc) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +9.1% | +20.2% |
| 5-year return | +71.0% | +133.5% |
| Volatility (ann.) | 17.6% | 23.1% |
| Beta vs S&P 500 | 0.05 | -0.01 |
| Max drawdown (3Y) | -13.1% | -20.6% |
| Market cap | $109.1B | $296.9B |
| P/E (trailing) | 26.7 | 26.7 |
| Dividend yield | 7.60% | 3.03% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ENB | PM |
|---|---|---|
| 2022 | +6.5% | +12.3% |
| 2023 | -1.1% | -1.9% |
| 2024 | +26.4% | +34.3% |
| 2025 | +17.8% | +38.0% |
| 2026 | +8.6% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENB and PM good diversifiers for each other?
Reasonably. At 0.37, ENB and PM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ENB and PM?
As of 2026-08-27, the correlation of weekly returns between ENB and PM is 0.37 over 3 years, 0.37 over 1 year and 0.35 over 5 years.
Is PM a good diversifier for ENB?
Reasonably. At 0.37, ENB and PM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enb-vs-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/enb-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENB correlations · PM correlations
