ENB vs QQQ: Correlation
How closely do Enbridge Inc (ENB) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENB and QQQ?
On 3 years of weekly data the ENB/QQQ correlation comes out at -0.09, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.09 over 3 years. The 5-year figure is 0.15, and annualized covariance runs at -30.9 %².
Out of 14 assets tracked against ENB, QQQ lands near the bottom at #10. The last year tells two different stories: QQQ led by 17.2 percentage points, +9.1% for ENB against +26.3% for QQQ.
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 QQQ: side by side
| ENB (Enbridge Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.1% | +26.3% |
| 5-year return | +71.0% | +95.4% |
| Volatility (ann.) | 17.6% | 19.6% |
| Beta vs S&P 500 | 0.05 | 1.28 |
| Max drawdown (3Y) | -13.1% | -22.8% |
| Market cap | $109.1B | – |
| P/E (trailing) | 26.7 | – |
| Dividend yield | 7.60% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | ENB | QQQ |
|---|---|---|
| 2022 | +6.5% | -32.6% |
| 2023 | -1.1% | +54.9% |
| 2024 | +26.4% | +25.6% |
| 2025 | +17.8% | +20.8% |
| 2026 | +8.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENB and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between ENB and QQQ?
Using weekly returns as of 2026-08-27: -0.09 over 3 years, with -0.42 over the last year and 0.15 over 5 years.
Is QQQ a good diversifier for ENB?
By historical standards, yes. A correlation of -0.09 means the two rarely move for the same reasons.
What does a correlation of -0.09 mean?
On the −1 to +1 scale, -0.09 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-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enb-vs-qqq/)
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Related comparisons
Hubs: ENB correlations · QQQ correlations
