ENB vs. RY
ENB (Enbridge Inc.) and RY (Royal Bank of Canada) are both stocks. ENB operates in Oil & Gas Midstream (Energy), while RY operates in Banks - Diversified (Financial Services). Over the past 10 years, ENB returned 9.68%/yr vs 17.18%/yr for RY. At a 0.43 correlation, their price movements are largely independent.
Performance
ENB vs. RY - Performance Comparison
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Returns By Period
In the year-to-date period, ENB achieves a 21.23% return, which is significantly higher than RY's 18.68% return. Over the past 10 years, ENB has underperformed RY with an annualized return of 9.68%, while RY has yielded a comparatively higher 17.18% annualized return.
ENB
- 1D
- 0.07%
- 1M
- 2.15%
- YTD
- 21.23%
- 6M
- 21.95%
- 1Y
- 27.81%
- 3Y*
- 22.21%
- 5Y*
- 14.42%
- 10Y*
- 9.68%
RY
- 1D
- 0.14%
- 1M
- 8.80%
- YTD
- 18.68%
- 6M
- 21.99%
- 1Y
- 60.93%
- 3Y*
- 33.55%
- 5Y*
- 18.33%
- 10Y*
- 17.18%
ENB vs. RY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 21.23% | 19.51% | 26.35% | -1.13% | 6.46% | 30.83% | -13.60% | 36.05% | -15.53% | -2.73% |
RY Royal Bank of Canada | 18.68% | 46.29% | 23.80% | 12.72% | -8.00% | 34.11% | 8.42% | 20.17% | -12.88% | 24.95% |
Correlation
The correlation between ENB and RY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 1995 | 0.43 |
Over the past year, the correlation between ENB and RY has dropped to 0.11 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
Fundamentals
ENB:
$4.92
RY:
CA$18.17
ENB:
11.48
RY:
15.35
ENB:
0.53
RY:
2.22
ENB:
1.34
RY:
2.45
ENB:
$69.05B
RY:
CA$138.99B
ENB:
$15.35B
RY:
CA$65.64B
ENB:
$17.09B
RY:
CA$30.01B
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Return for Risk
ENB vs. RY — Risk / Return Rank
ENB
RY
ENB vs. RY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB) and Royal Bank of Canada (RY). 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 | RY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.70 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 5.97 | -2.94 |
| Martin ratioReturn relative to average drawdown | 7.64 | 22.22 | -14.57 |
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Drawdowns
ENB vs. RY - Drawdown Comparison
The maximum ENB drawdown since its inception was -46.35%, smaller than the maximum RY drawdown of -62.90%. Use the drawdown chart below to compare losses from any high point for ENB and RY.
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Drawdown Indicators
| ENB | RY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.35% | -62.90% | +16.55% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -10.04% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -15.29% | -19.88% | +4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -28.32% | -28.36% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -44.07% | -39.95% | -4.12% |
Current DrawdownCurrent decline from peak | -2.65% | 0.00% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -10.83% | -9.32% | -1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 2.69% | +0.95% |
Volatility
ENB vs. RY - Volatility Comparison
Enbridge Inc. (ENB) has a higher volatility of 5.99% compared to Royal Bank of Canada (RY) at 4.01%. This indicates that ENB's price experiences larger fluctuations and is considered to be riskier than RY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB | RY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 4.01% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 12.96% | 11.34% | +1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 15.10% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.65% | 18.00% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.33% | 19.76% | +4.57% |
Dividends
ENB vs. RY - Dividend Comparison
ENB's dividend yield for the trailing twelve months is around 4.91%, more than RY's 2.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 4.91% | 5.66% | 6.28% | 7.31% | 6.80% | 6.85% | 7.55% | 5.58% | 6.68% | 4.71% | 4.13% | 4.71% |
RY Royal Bank of Canada | 2.32% | 2.54% | 3.39% | 4.29% | 4.07% | 3.24% | 3.88% | 3.88% | 4.27% | 3.22% | 3.95% | 5.41% |
Financials
ENB vs. RY - 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 vs. RY - Profitability Comparison
ENB - 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 0.00 and revenue of 22.36B. Therefore, the gross margin over that period was 0.0%.
RY - 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 16.51B and revenue of 33.93B. Therefore, the gross margin over that period was 48.7%.
ENB - 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 3.23B and revenue of 22.36B, resulting in an operating margin of 14.4%.
RY - 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 33.93B, resulting in an operating margin of 20.9%.
ENB - 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 2.95B and revenue of 22.36B, resulting in a net margin of 13.2%.
RY - 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 33.93B, resulting in a net margin of 16.2%.
Frequently Asked Questions
ENB and RY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENB has higher volatility (5.99%) compared to RY (4.01%). In terms of maximum drawdown, ENB dropped -46.35% vs RY's -62.90%.
RY currently has the higher Sharpe Ratio (3.97 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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