Enbridge Correlations

Pink Sheets . USA . 
Stock . Enbridge
EBBNF Stock  USD 22.38  0.04  0.18%   
The current 90-days correlation between Enbridge and Kinder Morgan is 0.03 (i.e., Significant diversification). The correlation of Enbridge is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Enbridge Correlation With Market

Good diversification

The correlation between Enbridge and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enbridge and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Enbridge could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enbridge when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Enbridge - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Enbridge to buy it.

Moving together with Enbridge Pink Sheet

  0.72TRP-PB TC Energy CorpPairCorr
  0.69TRP-PC TC Energy CorpPairCorr
  0.63RGTI Rigetti Computing TrendingPairCorr
  0.7YLWDF Yellow Pages LimitedPairCorr
  0.66QBTS D Wave Quantum Upward RallyPairCorr
  0.72CISO Cerberus Cyber Sentinel Tech BoostPairCorr
  0.69TATT Tat TechnoPairCorr
  0.68YMM Full Truck AlliancePairCorr

Moving against Enbridge Pink Sheet

  0.68ARDDF Ardiden LimitedPairCorr
  0.6LNDNF Lundin Energy ABPairCorr
  0.6INBX Inhibrx Symbol ChangePairCorr
  0.53AWCMY Alumina Limited PKPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Enbridge Pink Sheet performing well and Enbridge Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Enbridge's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enbridge without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Idea Analyzer Now

   

Idea Analyzer

Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas
All  Next Launch Module

Enbridge Corporate Management

Jonathan MorganVP RelationsProfile
Bhushan IvaturiVP OfficerProfile
David BrysonVP MidstreamProfile
QC LLBEx OfficerProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY