ENB vs T: Correlation
How closely do Enbridge Inc (ENB) and AT&T (T) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENB and T?
Over the past 3 years, ENB and T moved with a correlation of 0.36, which is moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 141.6 %².
Among the 14 assets we track against ENB, T ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ENB outperformed by 17.5 percentage points (+9.1% for ENB against -8.4% for T).
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 T: side by side
| ENB (Enbridge Inc) | T (AT&T) | |
|---|---|---|
| 1-year return | +9.1% | -8.4% |
| 5-year return | +71.0% | +67.2% |
| Volatility (ann.) | 17.6% | 22.4% |
| Beta vs S&P 500 | 0.05 | 0.05 |
| Max drawdown (3Y) | -13.1% | -28.9% |
| Market cap | $109.1B | $174.3B |
| P/E (trailing) | 26.7 | 8.4 |
| Dividend yield | 7.60% | 4.29% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | ENB | T |
|---|---|---|
| 2022 | +6.5% | +6.5% |
| 2023 | -1.1% | -2.7% |
| 2024 | +26.4% | +44.1% |
| 2025 | +17.8% | +14.0% |
| 2026 | +8.6% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENB and T good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ENB and T?
The ENB/T correlation stands at 0.36 on a 3-year window (1 year: 0.36, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is T a good diversifier for ENB?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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.
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Related comparisons
Hubs: ENB correlations · T correlations
