ENB.TO vs. WCN.TO
ENB.TO (Enbridge Inc.) and WCN.TO (Waste Connections, Inc.) are both stocks. ENB.TO operates in Oil & Gas Midstream (Energy), while WCN.TO operates in Waste Management (Industrials). Over the past 10 years, ENB.TO returned 10.59%/yr vs 18.98%/yr for WCN.TO. At a 0.18 correlation, their price movements are largely independent.
Performance
ENB.TO vs. WCN.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 WCN.TO's -8.90% return. Over the past 10 years, ENB.TO has underperformed WCN.TO with an annualized return of 10.59%, while WCN.TO has yielded a comparatively higher 18.98% 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%
WCN.TO
- 1D
- 0.55%
- 1M
- 1.38%
- YTD
- -8.90%
- 6M
- -7.68%
- 1Y
- -15.08%
- 3Y*
- 7.40%
- 5Y*
- 9.00%
- 10Y*
- 18.98%
ENB.TO vs. WCN.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% |
WCN.TO Waste Connections, Inc. | -8.90% | -1.69% | 25.48% | 11.09% | 4.86% | 33.02% | 11.52% | 17.27% | 14.53% | 92.32% |
Correlation
The correlation between ENB.TO and WCN.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.18 |
The correlation between ENB.TO and WCN.TO shifts across timeframes, from 0.18 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
ENB.TO:
CA$172.81B
WCN.TO:
CA$55.87B
ENB.TO:
CA$3.46
WCN.TO:
$4.09
ENB.TO:
22.84
WCN.TO:
38.23
ENB.TO:
1.05
WCN.TO:
1.82
ENB.TO:
2.22
WCN.TO:
4.20
ENB.TO:
2.13
WCN.TO:
4.96
ENB.TO:
CA$77.79B
WCN.TO:
$9.57B
ENB.TO:
CA$25.33B
WCN.TO:
$3.76B
ENB.TO:
CA$20.88B
WCN.TO:
$2.97B
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Return for Risk
ENB.TO vs. WCN.TO — Risk / Return Rank
ENB.TO
WCN.TO
ENB.TO vs. WCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB.TO) and Waste Connections, Inc. (WCN.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 | WCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.89 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | -0.72 | +4.02 |
| Martin ratioReturn relative to average drawdown | 8.61 | -1.36 | +9.97 |
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Drawdowns
ENB.TO vs. WCN.TO - Drawdown Comparison
The maximum ENB.TO drawdown since its inception was -39.47%, smaller than the maximum WCN.TO drawdown of -71.10%. Use the drawdown chart below to compare losses from any high point for ENB.TO and WCN.TO.
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Drawdown Indicators
| ENB.TO | WCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.47% | -71.10% | +31.63% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -21.51% | +12.09% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -26.21% | +14.65% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -26.21% | +4.83% |
Max Drawdown (10Y)Largest decline over 10 years | -39.47% | -26.53% | -12.94% |
Current DrawdownCurrent decline from peak | -1.51% | -21.70% | +20.19% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -10.25% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 11.43% | -7.77% |
Volatility
ENB.TO vs. WCN.TO - Volatility Comparison
Enbridge Inc. (ENB.TO) and Waste Connections, Inc. (WCN.TO) have volatilities of 5.97% and 5.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB.TO | WCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 5.88% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 18.32% | -5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 22.04% | -6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.69% | 18.59% | -2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.43% | 24.81% | -2.38% |
Dividends
ENB.TO vs. WCN.TO - Dividend Comparison
ENB.TO's dividend yield for the trailing twelve months is around 4.84%, more than WCN.TO's 0.86% 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% |
WCN.TO Waste Connections, Inc. | 0.86% | 0.75% | 0.65% | 0.72% | 0.68% | 0.61% | 0.78% | 0.75% | 0.74% | 0.74% | 1.22% | 1.09% |
Financials
ENB.TO vs. WCN.TO - Financials Comparison
This section allows you to compare key financial metrics between Enbridge Inc. and Waste Connections, Inc.. 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. WCN.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%.
WCN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a gross profit of 683.40M and revenue of 2.33B. Therefore, the gross margin over that period was 29.3%.
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%.
WCN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported an operating income of 358.11M and revenue of 2.33B, resulting in an operating margin of 15.4%.
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%.
WCN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a net income of 215.75M and revenue of 2.33B, resulting in a net margin of 9.3%.
Frequently Asked Questions
ENB.TO and WCN.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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