ENB.TO vs. RY.TO
ENB.TO (Enbridge Inc.) and RY.TO (Royal Bank of Canada) are both stocks. ENB.TO operates in Oil & Gas Midstream (Energy), while RY.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, ENB.TO returned 10.59%/yr vs 18.12%/yr for RY.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
ENB.TO vs. RY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ENB.TO achieves a 23.42% return, which is significantly higher than RY.TO's 20.87% return. Over the past 10 years, ENB.TO has underperformed RY.TO with an annualized return of 10.59%, while RY.TO has yielded a comparatively higher 18.12% annualized return.
ENB.TO
- 1D
- 0.13%
- 1M
- 3.74%
- YTD
- 23.42%
- 6M
- 23.83%
- 1Y
- 31.58%
- 3Y*
- 24.19%
- 5Y*
- 17.63%
- 10Y*
- 10.59%
RY.TO
- 1D
- 0.36%
- 1M
- 10.50%
- YTD
- 20.87%
- 6M
- 23.89%
- 1Y
- 65.59%
- 3Y*
- 35.54%
- 5Y*
- 21.56%
- 10Y*
- 18.12%
ENB.TO vs. RY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENB.TO Enbridge Inc. | 23.42% | 14.09% | 37.18% | -3.28% | 13.96% | 29.98% | -15.30% | 29.43% | -8.30% | -8.84% |
RY.TO Royal Bank of Canada | 20.87% | 39.60% | 34.37% | 9.80% | -1.52% | 33.09% | 6.52% | 14.33% | -5.50% | 17.12% |
Correlation
The correlation between ENB.TO and RY.TO is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.38 |
Over the past year, the correlation between ENB.TO and RY.TO has dropped to 0.02 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
Fundamentals
ENB.TO:
CA$172.81B
RY.TO:
CA$389.54B
ENB.TO:
CA$3.46
RY.TO:
CA$15.77
ENB.TO:
22.84
RY.TO:
17.69
ENB.TO:
1.05
RY.TO:
2.60
ENB.TO:
2.22
RY.TO:
3.25
ENB.TO:
2.13
RY.TO:
3.01
ENB.TO:
CA$77.79B
RY.TO:
CA$120.33B
ENB.TO:
CA$25.33B
RY.TO:
CA$65.64B
ENB.TO:
CA$20.88B
RY.TO:
CA$14.74B
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Return for Risk
ENB.TO vs. RY.TO — Risk / Return Rank
ENB.TO
RY.TO
ENB.TO vs. RY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB.TO) and Royal Bank of Canada (RY.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ENB.TO | RY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -3.78 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.85 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 7.91 | -4.62 |
| Martin ratioReturn relative to average drawdown | 8.61 | 29.39 | -20.78 |
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Drawdowns
ENB.TO vs. RY.TO - Drawdown Comparison
The maximum ENB.TO drawdown since its inception was -39.47%, smaller than the maximum RY.TO drawdown of -54.03%. Use the drawdown chart below to compare losses from any high point for ENB.TO and RY.TO.
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Drawdown Indicators
| ENB.TO | RY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.47% | -54.03% | +14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -8.12% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -16.00% | +4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -21.21% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -39.47% | -33.84% | -5.63% |
Current DrawdownCurrent decline from peak | -1.51% | 0.00% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -6.72% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 2.18% | +1.48% |
Volatility
ENB.TO vs. RY.TO - Volatility Comparison
Enbridge Inc. (ENB.TO) has a higher volatility of 5.97% compared to Royal Bank of Canada (RY.TO) at 4.23%. This indicates that ENB.TO's price experiences larger fluctuations and is considered to be riskier than RY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB.TO | RY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 4.23% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 10.44% | +2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 13.82% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.69% | 14.93% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.43% | 17.26% | +5.17% |
Dividends
ENB.TO vs. RY.TO - Dividend Comparison
ENB.TO's dividend yield for the trailing twelve months is around 4.84%, more than RY.TO's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB.TO Enbridge Inc. | 4.84% | 5.74% | 6.00% | 7.44% | 6.50% | 6.76% | 7.96% | 5.72% | 6.33% | 4.91% | 3.75% | 4.04% |
RY.TO Royal Bank of Canada | 2.28% | 2.58% | 3.23% | 3.99% | 3.90% | 3.22% | 4.10% | 3.96% | 4.03% | 3.39% | 3.57% | 4.15% |
Financials
ENB.TO vs. RY.TO - Financials Comparison
This section allows you to compare key financial metrics between Enbridge Inc. and Royal Bank of Canada. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ENB.TO vs. RY.TO - Profitability Comparison
ENB.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enbridge Inc. reported a gross profit of 8.60B and revenue of 31.19B. Therefore, the gross margin over that period was 27.6%.
RY.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a gross profit of 16.52B and revenue of 33.95B. Therefore, the gross margin over that period was 48.7%.
ENB.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enbridge Inc. reported an operating income of 5.06B and revenue of 31.19B, resulting in an operating margin of 16.2%.
RY.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported an operating income of 7.10B and revenue of 33.95B, resulting in an operating margin of 20.9%.
ENB.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enbridge Inc. reported a net income of 2.44B and revenue of 31.19B, resulting in a net margin of 7.8%.
RY.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a net income of 5.51B and revenue of 33.95B, resulting in a net margin of 16.2%.
Frequently Asked Questions
ENB.TO and RY.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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