PPL-PO.TO vs. ENB.TO

Last updated Jun 5, 2026

PPL-PO.TO (Pembina Pipeline Corporation) and ENB.TO (Enbridge Inc.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, PPL-PO.TO returned 12.59%/yr vs 10.48%/yr for ENB.TO. At a 0.13 correlation, their price movements are largely independent.

Performance

PPL-PO.TO vs. ENB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Pembina Pipeline Corporation (PPL-PO.TO) and Enbridge Inc. (ENB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPL-PO.TO achieves a 3.97% return, which is significantly lower than ENB.TO's 23.18% return. Over the past 10 years, PPL-PO.TO has outperformed ENB.TO with an annualized return of 12.59%, while ENB.TO has yielded a comparatively lower 10.48% annualized return.

PPL-PO.TO

• 1D: 0.00%
• 1M: -0.15%
• YTD: 3.97%
• 6M: 5.31%
• 1Y: 14.48%
• 3Y*: 16.42%
• 5Y*: 9.74%
• 10Y*: 12.59%

ENB.TO

• 1D: 1.61%
• 1M: 7.87%
• YTD: 23.18%
• 6M: 21.52%
• 1Y: 30.00%
• 3Y*: 23.91%
• 5Y*: 18.13%
• 10Y*: 10.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PPL-PO.TO vs. ENB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPL-PO.TO Pembina Pipeline Corporation	3.97%	18.83%	28.07%	4.74%	-6.64%	49.97%	-1.38%	-2.91%	-14.28%	36.41%
ENB.TO Enbridge Inc.	23.18%	14.10%	37.18%	-3.27%	13.96%	29.98%	-15.30%	29.43%	-8.30%	-8.84%

Correlation

The correlation between PPL-PO.TO and ENB.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	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Feb 15, 2012	0.13

The correlation between PPL-PO.TO and ENB.TO shifts across timeframes, from 0.02 (1 year) to 0.15 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

PPL-PO.TO vs. ENB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PPL-PO.TO

PPL-PO.TO Risk / Return Rank: 86
PPL-PO.TO Sharpe Ratio Rank: 86
PPL-PO.TO Sortino Ratio Rank: 84
PPL-PO.TO Omega Ratio Rank: 85
PPL-PO.TO Calmar Ratio Rank: 86
PPL-PO.TO Martin Ratio Rank: 92

ENB.TO

ENB.TO Risk / Return Rank: 85
ENB.TO Sharpe Ratio Rank: 87
ENB.TO Sortino Ratio Rank: 86
ENB.TO Omega Ratio Rank: 83
ENB.TO Calmar Ratio Rank: 84
ENB.TO Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PPL-PO.TO vs. ENB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pembina Pipeline Corporation (PPL-PO.TO) 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.

	PPL-PO.TO	ENB.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.96	-0.15
Sortino ratio: Return per unit of downside risk	2.60	2.79	-0.18
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	3.71	3.23	+0.49
Martin ratio: Return relative to average drawdown	13.83	8.18	+5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPL-PO.TO vs. ENB.TO - Sharpe Ratio Comparison

The current PPL-PO.TO Sharpe Ratio is 1.81, which is comparable to the ENB.TO Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of PPL-PO.TO and ENB.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PPL-PO.TO	ENB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	1.96	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	1.16	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.47	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.61	-0.40

Drawdowns

PPL-PO.TO vs. ENB.TO - Drawdown Comparison

The maximum PPL-PO.TO drawdown since its inception was -63.75%, which is greater than ENB.TO's maximum drawdown of -48.20%. Use the drawdown chart below to compare losses from any high point for PPL-PO.TO and ENB.TO.

Drawdown Indicators

	PPL-PO.TO	ENB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-63.75%	-48.20%	-15.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.88%	-9.42%	+5.54%
Max Drawdown (3Y) Largest decline over 3 years	-17.42%	-13.95%	-3.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.96%	-21.38%	-0.58%
Max Drawdown (10Y) Largest decline over 10 years	-62.70%	-39.47%	-23.23%
Current Drawdown Current decline from peak	-2.88%	-1.70%	-1.18%
Average Drawdown Average peak-to-trough decline	-14.12%	-10.25%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	3.71%	-2.67%

Volatility

PPL-PO.TO vs. ENB.TO - Volatility Comparison

The current volatility for Pembina Pipeline Corporation (PPL-PO.TO) is 3.61%, while Enbridge Inc. (ENB.TO) has a volatility of 5.88%. This indicates that PPL-PO.TO experiences smaller price fluctuations and is considered to be less risky than ENB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPL-PO.TO	ENB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	5.88%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	5.89%	12.67%	-6.78%
Volatility (1Y) Calculated over the trailing 1-year period	7.96%	15.60%	-7.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	15.67%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	22.43%	-0.90%

Dividends

PPL-PO.TO vs. ENB.TO - Dividend Comparison

PPL-PO.TO's dividend yield for the trailing twelve months is around 5.92%, more than ENB.TO's 4.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENB.TO Enbridge Inc.	4.85%	5.74%	6.00%	7.45%	6.50%	6.76%	7.96%	5.72%	6.33%	4.91%	3.75%	4.04%
PPL-PO.TO Pembina Pipeline Corporation	5.92%	6.07%	6.77%	8.07%	6.19%	4.99%	7.10%	6.41%	5.82%	3.53%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both PPL-PO.TO and ENB.TO in my portfolio?

PPL-PO.TO and ENB.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.