Ecolab Correlations

ECL Stock

USD 254.12 0.42 0.17%

The current 90-days correlation between Ecolab Inc and Linde plc Ordinary is 0.45 (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 0.45 (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

0.71	DD	Dupont De Nemours	Pair Corr
0.71	EMN	Eastman Chemical	Pair Corr
0.64	FSI	Flexible Solutions	Pair Corr
0.91	LIN	Linde plc Ordinary Sell-off Trend	Pair Corr
0.76	NEU	NewMarket	Pair Corr

Moving against Ecolab Stock

0.86	FEAM	5E Advanced Materials	Pair Corr
0.77	CMT	Core Molding Technologies	Pair Corr
0.69	FF	FutureFuel Corp	Pair Corr
0.69	PRM	Perimeter Solutions	Pair Corr
0.67	ASH	Ashland Global Holdings	Pair Corr
0.63	ALB	Albemarle Corp	Pair Corr
0.63	MTX	Minerals Technologies	Pair Corr
0.57	ALB-PA	Albemarle	Pair Corr
0.56	FUL	H B Fuller Earnings Call This Week	Pair Corr
0.52	CC	Chemours	Pair Corr
0.51	KRO	Kronos Worldwide	Pair Corr
0.45	OEC	Orion Engineered Carbons	Pair Corr
0.44	KOP	Koppers Holdings	Pair Corr
0.42	CBT	Cabot	Pair Corr
0.36	IFF	International Flavors Sell-off Trend	Pair Corr
0.33	PPG	PPG Industries	Pair Corr
0.81	LWLG	Lightwave Logic	Pair Corr
0.77	CNEY	CN Energy Group	Pair Corr
0.76	NTIC	Northern Technologies	Pair Corr
0.75	CLMT	Calumet Specialty	Pair Corr
0.7	GEVO	Gevo Inc	Pair Corr
0.7	MATV	Mativ Holdings	Pair Corr
0.66	CRKN	Crown Electrokinetics	Pair Corr
0.6	HWKN	Hawkins	Pair Corr
0.6	AA	Alcoa Corp	Pair Corr
0.5	IOSP	Innospec	Pair Corr
0.48	SSL	Sasol	Pair Corr
0.36	SCL	Stepan Company	Pair Corr

Related Correlations Analysis

	LIN	PPG	SHW	LYB	APD	ALB	RPM	IFF	CBT	WLK
LIN		-0.39	0.51	0.59	0.52	-0.66	-0.22	-0.31	-0.47	-0.37	LIN
PPG	-0.39		0.35	0.24	0.13	0.76	0.82	0.71	0.74	0.89	PPG
SHW	0.51	0.35		0.63	0.74	0.06	0.62	0.48	0.27	0.44	SHW
LYB	0.59	0.24	0.63		0.77	0.0	0.29	0.25	-0.01	0.31	LYB
APD	0.52	0.13	0.74	0.77		-0.06	0.38	0.41	-0.08	0.28	APD
ALB	-0.66	0.76	0.06	0.0	-0.06		0.74	0.63	0.88	0.83	ALB
RPM	-0.22	0.82	0.62	0.29	0.38	0.74		0.76	0.8	0.9	RPM
IFF	-0.31	0.71	0.48	0.25	0.41	0.63	0.76		0.64	0.78	IFF
CBT	-0.47	0.74	0.27	-0.01	-0.08	0.88	0.8	0.64		0.79	CBT
WLK	-0.37	0.89	0.44	0.31	0.28	0.83	0.9	0.78	0.79		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

WLK	+ 0.9	RPM
WLK	+ 0.89	PPG
CBT	+ 0.88	ALB
WLK	+ 0.83	ALB
RPM	+ 0.82	PPG
CBT	+ 0.8	RPM

High negative correlations

ALB	- 0.66	LIN
CBT	- 0.47	LIN
PPG	- 0.39	LIN
WLK	- 0.37	LIN
IFF	- 0.31	LIN
RPM	- 0.22	LIN

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	0.82	0.10	0.17	0.11	0.82	(0.93)	1.81	(1.43)	3.68
PPG	1.17	(0.06)	0.00	(0.18)	0.00	0.00	2.60	(2.26)	8.61
SHW	1.06	(0.07)	0.00	(0.18)	0.00	0.00	1.98	(2.02)	4.87
LYB	1.10	0.04	0.00	(0.04)	0.00	0.00	2.12	(2.39)	8.13
APD	1.13	(0.03)	0.00	(0.14)	0.00	0.00	2.38	(1.85)	8.35
ALB	2.05	(0.30)	0.00	(0.46)	0.00	0.00	3.47	(4.44)	14.94
RPM	0.99	(0.14)	0.00	(0.26)	0.00	0.00	1.73	(2.25)	5.54
IFF	0.94	(0.07)	0.00	(0.19)	0.00	0.00	2.00	(1.73)	7.54
CBT	1.25	(0.26)	0.00	(0.47)	0.00	0.00	2.07	(3.21)	8.68
WLK	1.20	(0.13)	0.00	(0.26)	0.00	0.00	2.38	(2.20)	6.30

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