ENB vs. TRP
ENB (Enbridge Inc.) and TRP (TC Energy Corporation) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, ENB returned 9.57%/yr vs 11.03%/yr for TRP. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
ENB vs. TRP - Performance Comparison
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Returns By Period
In the year-to-date period, ENB achieves a 16.86% return, which is significantly lower than TRP's 24.94% return. Over the past 10 years, ENB has underperformed TRP with an annualized return of 9.57%, while TRP has yielded a comparatively higher 11.03% annualized return.
ENB
- 1D
- -1.75%
- 1M
- 0.70%
- 6M
- 14.44%
- YTD
- 16.86%
- 1Y
- 24.45%
- 3Y*
- 21.98%
- 5Y*
- 13.77%
- 10Y*
- 9.57%
- ALL TIME*
- 13.09%
TRP
- 1D
- -0.97%
- 1M
- 1.44%
- 6M
- 17.15%
- YTD
- 24.94%
- 1Y
- 45.34%
- 3Y*
- 35.42%
- 5Y*
- 15.80%
- 10Y*
- 11.03%
- ALL TIME*
- 10.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $167.89M | $194.21M | $226.31M | |
| $138.92M | $166.49M | $163.03M |
ENB vs. TRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 16.86% | 19.51% | 26.35% | -1.13% | 6.46% | 30.83% | -13.60% | 36.05% | -15.53% | -2.73% |
TRP TC Energy Corporation | 24.94% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
Correlation
The correlation between ENB and TRP is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990 | 0.51 |
Over the past year, ENB and TRP have become more correlated (0.81) than their long-term average of 0.51, meaning their price movements have been converging.
Fundamentals
ENB:
$118.92B
TRP:
$70.19B
ENB:
$4.71
TRP:
CA$3.45
ENB:
11.55
TRP:
27.35
ENB:
0.53
TRP:
0.38
ENB:
0.97
TRP:
6.14
ENB:
$92.41B
TRP:
CA$16.01B
ENB:
$19.05B
TRP:
CA$8.24B
ENB:
$14.52B
TRP:
CA$11.21B
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Return for Risk
ENB vs. TRP — Risk / Return Rank
ENB
TRP
ENB vs. TRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB) and TC Energy Corporation (TRP). 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 | TRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.43 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 4.87 | -1.90 |
| Martin ratioReturn relative to average drawdown | 7.15 | 14.80 | -7.64 |
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Drawdowns
ENB vs. TRP - Drawdown Comparison
The maximum ENB drawdown since its inception was -46.35%, smaller than the maximum TRP drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for ENB and TRP.
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Drawdown Indicators
| ENB | TRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.35% | -62.52% | +16.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -9.65% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -12.98% | -12.84% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -28.32% | -37.05% | +8.73% |
Max Drawdown (10Y)Largest decline over 10 years | -44.07% | -41.64% | -2.43% |
Current DrawdownCurrent decline from peak | -6.17% | -4.48% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -10.80% | -11.69% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 3.17% | +0.61% |
Volatility
ENB vs. TRP - Volatility Comparison
The current volatility for Enbridge Inc. (ENB) is 5.86%, while TC Energy Corporation (TRP) has a volatility of 6.26%. This indicates that ENB experiences smaller price fluctuations and is considered to be less risky than TRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB | TRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.86% | 6.26% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 13.75% | 13.70% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.88% | 18.09% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 21.95% | -3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 24.88% | -0.65% |
Dividends
ENB vs. TRP - Dividend Comparison
ENB's dividend yield for the trailing twelve months is around 5.09%, more than TRP's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 5.09% | 5.66% | 6.28% | 7.31% | 6.80% | 6.85% | 7.55% | 5.58% | 6.68% | 4.71% | 4.13% | 4.71% |
TRP TC Energy Corporation | 3.68% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
ENB vs. TRP - Financials Comparison
This section allows you to compare key financial metrics between Enbridge Inc. and TC Energy Corporation. 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. TRP - Profitability Comparison
ENB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Enbridge Inc. reported a gross profit of 0.00 and revenue of 29.32B. Therefore, the gross margin over that period was 0.0%.
TRP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, TC Energy Corporation reported a gross profit of 2.01B and revenue of 3.99B. Therefore, the gross margin over that period was 50.4%.
ENB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Enbridge Inc. reported an operating income of 2.91B and revenue of 29.32B, resulting in an operating margin of 9.9%.
TRP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, TC Energy Corporation reported an operating income of 1.79B and revenue of 3.99B, resulting in an operating margin of 44.7%.
ENB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Enbridge Inc. reported a net income of 2.45B and revenue of 29.32B, resulting in a net margin of 8.4%.
TRP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, TC Energy Corporation reported a net income of 1.02B and revenue of 3.99B, resulting in a net margin of 25.5%.
Frequently Asked Questions
ENB and TRP have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRP has higher volatility (6.26%) compared to ENB (5.86%). In terms of maximum drawdown, ENB dropped -46.35% vs TRP's -62.52%.
TRP currently has the higher Sharpe Ratio (2.61 vs 1.60), 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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