PANW vs. ENB.TO
PANW (Palo Alto Networks, Inc.) and ENB.TO (Enbridge Inc.) are both stocks. PANW operates in Software - Infrastructure (Technology), while ENB.TO operates in Oil & Gas Midstream (Energy). Over the past 10 years, PANW returned 29.12%/yr vs 9.65%/yr for ENB.TO. At a 0.14 correlation, their price movements are largely independent.
Performance
PANW vs. ENB.TO - Performance Comparison
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Different Trading Currencies
PANW is traded in USD, while ENB.TO is traded in CAD. To make them comparable, the ENB.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PANW achieves a 51.80% return, which is significantly higher than ENB.TO's 20.96% return. Over the past 10 years, PANW has outperformed ENB.TO with an annualized return of 29.12%, while ENB.TO has yielded a comparatively lower 9.65% annualized return.
PANW
- 1D
- 0.03%
- 1M
- 15.15%
- YTD
- 51.80%
- 6M
- 45.87%
- 1Y
- 42.47%
- 3Y*
- 33.77%
- 5Y*
- 35.61%
- 10Y*
- 29.12%
ENB.TO
- 1D
- -0.06%
- 1M
- 1.78%
- YTD
- 20.96%
- 6M
- 22.09%
- 1Y
- 28.04%
- 3Y*
- 22.35%
- 5Y*
- 14.28%
- 10Y*
- 9.65%
PANW vs. ENB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PANW Palo Alto Networks, Inc. | 51.80% | 1.23% | 23.41% | 111.32% | -24.81% | 56.66% | 53.68% | 22.78% | 29.95% | 15.91% |
ENB.TO Enbridge Inc. | 20.96% | 19.55% | 26.47% | -0.92% | 7.16% | 30.05% | -13.25% | 34.99% | -15.41% | -2.22% |
Correlation
The correlation between PANW and ENB.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012 | 0.14 |
The correlation between PANW and ENB.TO shifts across timeframes, from -0.13 (1 year) to 0.15 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
PANW:
$208.04B
ENB.TO:
CA$172.81B
PANW:
$1.17
ENB.TO:
CA$3.46
PANW:
238.46
ENB.TO:
22.84
PANW:
0.02
ENB.TO:
1.05
PANW:
18.95
ENB.TO:
2.22
PANW:
7.52
ENB.TO:
2.13
PANW:
$10.61B
ENB.TO:
CA$77.79B
PANW:
$7.63B
ENB.TO:
CA$25.33B
PANW:
$1.33B
ENB.TO:
CA$20.88B
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Return for Risk
PANW vs. ENB.TO — Risk / Return Rank
PANW
ENB.TO
PANW vs. ENB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Palo Alto Networks, Inc. (PANW) and Enbridge Inc. (ENB.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.
| PANW | ENB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 3.18 | -2.03 |
| Martin ratioReturn relative to average drawdown | 2.62 | 7.85 | -5.23 |
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Drawdowns
PANW vs. ENB.TO - Drawdown Comparison
The maximum PANW drawdown since its inception was -47.98%, roughly equal to the maximum ENB.TO drawdown of -46.35%. Use the drawdown chart below to compare losses from any high point for PANW and ENB.TO.
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Drawdown Indicators
| PANW | ENB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.98% | -46.35% | -1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -36.01% | -8.85% | -27.16% |
Max Drawdown (3Y)Largest decline over 3 years | -36.01% | -14.77% | -21.24% |
Max Drawdown (5Y)Largest decline over 5 years | -36.01% | -27.86% | -8.15% |
Max Drawdown (10Y)Largest decline over 10 years | -47.98% | -43.74% | -4.24% |
Current DrawdownCurrent decline from peak | -6.94% | -2.89% | -4.05% |
Average DrawdownAverage peak-to-trough decline | -14.68% | -11.35% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.87% | 3.58% | +12.29% |
Volatility
PANW vs. ENB.TO - Volatility Comparison
Palo Alto Networks, Inc. (PANW) has a higher volatility of 16.97% compared to Enbridge Inc. (ENB.TO) at 5.85%. This indicates that PANW's price experiences larger fluctuations and is considered to be riskier than ENB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PANW | ENB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.97% | 5.85% | +11.12% |
Volatility (6M)Calculated over the trailing 6-month period | 32.33% | 12.99% | +19.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.96% | 16.33% | +22.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.72% | 17.21% | +24.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.62% | 23.57% | +15.05% |
Dividends
PANW vs. ENB.TO - Dividend Comparison
PANW has not paid dividends to shareholders, while ENB.TO's dividend yield for the trailing twelve months is around 4.84%.
| 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% |
PANW Palo Alto Networks, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
PANW vs. ENB.TO - Financials Comparison
This section allows you to compare key financial metrics between Palo Alto Networks, Inc. and Enbridge 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
PANW vs. ENB.TO - Profitability Comparison
PANW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported a gross profit of 2.03B and revenue of 3.00B. Therefore, the gross margin over that period was 67.6%.
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%.
PANW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported an operating income of -186.00M and revenue of 3.00B, resulting in an operating margin of -6.2%.
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%.
PANW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported a net income of -177.00M and revenue of 3.00B, resulting in a net margin of -5.9%.
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%.
Frequently Asked Questions
PANW and ENB.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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