Correlation Between Ecolab and KROGER
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By analyzing existing cross correlation between Ecolab Inc and KROGER 445 percent, you can compare the effects of market volatilities on Ecolab and KROGER and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Ecolab with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ecolab and KROGER.
Diversification Opportunities for Ecolab and KROGER
Pay attention - limited upside
The 3 months correlation between Ecolab and KROGER is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ecolab Inc and KROGER 445 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 445 percent and Ecolab is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Ecolab Inc are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 445 percent has no effect on the direction of Ecolab i.e., Ecolab and KROGER go up and down completely randomly.
Pair Corralation between Ecolab and KROGER
If you would invest 14,203 in Ecolab Inc on September 5, 2024 and sell it today you would earn a total of 10,614 from holding Ecolab Inc or generate 74.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
Ecolab Inc vs. KROGER 445 percent
Performance |
| Timeline |
| Ecolab Inc |
| KROGER 445 percent |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Ecolab and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ecolab and KROGER
The main advantage of trading using opposite Ecolab and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ecolab position performs unexpectedly, KROGER can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in KROGER will offset losses from the drop in KROGER's long position.| Ecolab vs. Linde plc Ordinary | Ecolab vs. PPG Industries | Ecolab vs. Sherwin Williams Co | Ecolab vs. LyondellBasell Industries NV |
| KROGER vs. Relx PLC ADR | KROGER vs. Bright Scholar Education | KROGER vs. Alvotech | KROGER vs. Pearson PLC ADR |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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