Ecolab Correlations

ECL Stock

USD 243.42 1.65 0.68%

The current 90-days correlation between Ecolab Inc and Linde plc Ordinary is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ecolab moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ecolab Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ecolab Correlation With Market

Very weak diversification

The correlation between Ecolab Inc and DJI is 0.4 (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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Ecolab Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Ecolab Stock

0.61	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.75	EMN	Eastman Chemical	Pair Corr
0.85	LIN	Linde plc Ordinary	Pair Corr
0.64	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.69	PPG	PPG Industries Fiscal Year End 16th of January 2025	Pair Corr
0.67	TSE	Trinseo SA	Pair Corr

Moving against Ecolab Stock

0.55	ECVT	Ecovyst	Pair Corr
0.34	ESI	Element Solutions	Pair Corr
0.33	WTTR	Select Energy Services	Pair Corr
0.34	NEU	NewMarket	Pair Corr
0.53	NGVT	Ingevity Corp	Pair Corr
0.5	NTIC	Northern Technologies	Pair Corr

Related Correlations Analysis

	LIN	PPG	SHW	LYB	APD	ALB	RPM	IFF	CBT	WLK
LIN		0.81	0.17	0.53	0.07	-0.26	-0.13	0.8	0.27	0.58	LIN
PPG	0.81		0.32	0.6	-0.02	-0.12	-0.14	0.67	0.32	0.71	PPG
SHW	0.17	0.32		-0.22	0.43	0.44	0.58	-0.15	0.7	-0.02	SHW
LYB	0.53	0.6	-0.22		-0.68	-0.63	-0.75	0.73	-0.4	0.9	LYB
APD	0.07	-0.02	0.43	-0.68		0.77	0.91	-0.28	0.77	-0.47	APD
ALB	-0.26	-0.12	0.44	-0.63	0.77		0.84	-0.54	0.7	-0.38	ALB
RPM	-0.13	-0.14	0.58	-0.75	0.91	0.84		-0.49	0.82	-0.53	RPM
IFF	0.8	0.67	-0.15	0.73	-0.28	-0.54	-0.49		-0.16	0.65	IFF
CBT	0.27	0.32	0.7	-0.4	0.77	0.7	0.82	-0.16		-0.08	CBT
WLK	0.58	0.71	-0.02	0.9	-0.47	-0.38	-0.53	0.65	-0.08		WLK
	LIN	PPG	SHW	LYB	APD	ALB	RPM	IFF	CBT	WLK

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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

RPM	+ 0.91	APD
WLK	+ 0.9	LYB
RPM	+ 0.84	ALB
CBT	+ 0.82	RPM
PPG	+ 0.81	LIN
IFF	+ 0.8	LIN

High negative correlations

RPM	- 0.75	LYB
APD	- 0.68	LYB
ALB	- 0.63	LYB
IFF	- 0.54	ALB
WLK	- 0.53	RPM
IFF	- 0.49	RPM

Risk-Adjusted Indicators

There is a big difference between Ecolab Stock performing well and Ecolab 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'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
LIN	0.68	(0.09)	0.00	(0.04)	0.00	0.00	1.34	(1.29)	5.01
PPG	0.79	(0.07)	0.00	(0.02)	0.00	0.00	1.37	(1.90)	8.06
SHW	0.84	0.03	(0.01)	0.14	1.15	(0.98)	1.53	(1.52)	7.77
LYB	0.85	(0.29)	0.00	(0.26)	0.00	0.00	1.98	(2.13)	5.41
APD	0.92	0.26	0.21	1.10	0.55	(1.02)	1.90	(1.38)	10.91
ALB	2.85	0.32	0.12	0.27	3.02	(3.14)	8.25	(5.63)	20.54
RPM	1.04	0.15	0.16	0.24	0.79	(1.29)	1.90	(1.57)	7.62
IFF	0.98	(0.06)	0.00	0.17	0.00	0.00	2.41	(1.95)	14.05
CBT	1.25	(0.01)	0.03	0.08	1.28	(1.39)	2.82	(1.75)	10.88
WLK	1.16	(0.29)	0.00	(0.13)	0.00	0.00	2.03	(2.32)	8.54

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