ECOLAB INC Correlations

ECJ Stock

EUR 243.60 4.00 1.67%

The current 90-days correlation between ECOLAB INC and Coor Service Management is 0.21 (i.e., Modest diversification). The correlation of ECOLAB INC 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ECOLAB INC Correlation With Market

Very weak diversification

The correlation between ECOLAB INC and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ECOLAB INC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ECOLAB INC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ECOLAB INC 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 ECOLAB INC - 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 ECOLAB INC to buy it.

Moving together with ECOLAB Stock

0.83	4I1	Philip Morris Intern	Pair Corr
0.65	AMG	Amgen Inc	Pair Corr
0.63	SEH	SHIN ETSU CHEMICAL	Pair Corr
0.69	XMF	STOMO MITSUI FINL	Pair Corr
0.73	SCL	Schlumberger Limited	Pair Corr
0.7	JMI	Deep Yellow Limited	Pair Corr
0.65	XSI	Sanyo Chemical Industries	Pair Corr
0.78	4OQ1	AGNC Investment Corp	Pair Corr
0.77	UUEC	United Utilities	Pair Corr
0.72	8SF	SLIGRO FOOD GROUP	Pair Corr
0.63	MM2	Mercator Medical	Pair Corr

Moving against ECOLAB Stock

0.62	ABL	Abbott Laboratories	Pair Corr
0.48	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	CI7	GS2C	COE	I8M	A3J	4H7	QBI	0QN
CI7		-0.52	-0.83	-0.87	-0.89	-0.67	0.65	0.07	CI7
GS2C	-0.52		0.58	0.44	0.42	0.27	-0.65	-0.39	GS2C
COE	-0.83	0.58		0.9	0.9	0.76	-0.76	-0.2	COE
I8M	-0.87	0.44	0.9		0.94	0.83	-0.59	0.07	I8M
A3J	-0.89	0.42	0.9	0.94		0.8	-0.69	-0.03	A3J
4H7	-0.67	0.27	0.76	0.83	0.8		-0.55	-0.07	4H7
QBI	0.65	-0.65	-0.76	-0.59	-0.69	-0.55		0.61	QBI
0QN	0.07	-0.39	-0.2	0.07	-0.03	-0.07	0.61		0QN
	CI7	GS2C	COE	I8M	A3J	4H7	QBI	0QN

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

A3J	+ 0.94	I8M
I8M	+ 0.9	COE
A3J	+ 0.9	COE
4H7	+ 0.83	I8M
4H7	+ 0.8	A3J
4H7	+ 0.76	COE

High negative correlations

A3J	- 0.89	CI7
I8M	- 0.87	CI7
COE	- 0.83	CI7
QBI	- 0.76	COE
QBI	- 0.69	A3J
4H7	- 0.67	CI7

Risk-Adjusted Indicators

There is a big difference between ECOLAB Stock performing well and ECOLAB INC 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 ECOLAB INC'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CI7	2.65	(0.36)	0.00	(0.37)	0.00	0.00	6.35	(6.67)	24.78
GS2C	1.77	0.08	0.03	0.16	1.96	(1.92)	4.65	(3.43)	15.00
COE	1.73	0.22	0.04	(0.40)	2.10	(2.04)	3.72	(3.14)	9.81
I8M	1.36	0.36	0.18	0.91	1.22	(1.76)	3.85	(2.34)	10.67
A3J	1.60	0.50	0.15	(0.51)	1.61	(2.15)	4.81	(3.46)	10.64
4H7	1.25	0.25	0.12	0.51	1.30	(1.63)	3.59	(2.50)	10.97
QBI	0.15	(0.09)	0.00	(0.79)	0.00	0.00	0.00	0.00	5.00
0QN	1.76	(0.29)	0.00	(1.91)	0.00	0.00	3.43	(4.72)	18.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in ECOLAB INC 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.

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