counterbalance vs set off

counterbalance is a noun but set off is not a noun.

Word	Noun	Adjective	Verb	Adverb
counterbalance	Yes	No	Yes	No
set off	No	No	Yes	No

As verbs, set off is a hypernym of counterbalance; that is, set off is a word with a broader meaning than counterbalance:

Other hypernyms of counterbalance include cancel, offset.

counterbalance (noun)	set off (noun)
a weight that balances another weight
a compensating equivalent
equality of distribution

counterbalance (verb)	set off (verb)
oppose and mitigate the effects of by contrary actions	cause to burst with a violent release of energy
contrast with equal weight or force	set in motion or cause to begin
adjust for	direct attention to, as if by means of contrast
	provoke or stir up
	put in motion or move to act
	depart for someplace
	make up for