Ecolab Correlations

ECL Stock

USD 268.75 0.26 0.1%

The current 90-days correlation between Ecolab Inc and Linde plc Ordinary is -0.19 (i.e., Good 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

Good diversification

The correlation between Ecolab Inc and DJI is -0.15 (i.e., Good 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.

Build AI portfolio with Ecolab Stock

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

0.78	DD	Dupont De Nemours	Pair Corr
0.92	ECVT	Ecovyst	Pair Corr
0.66	ALB-PA	Albemarle	Pair Corr
0.62	ALB	Albemarle Corp	Pair Corr
0.79	APD	Air Products	Pair Corr
0.87	CMT	Core Molding Technologies	Pair Corr
0.82	ESI	Element Solutions	Pair Corr
0.72	FSI	Flexible Solutions	Pair Corr
0.66	FUL	H B Fuller	Pair Corr
0.9	KOP	Koppers Holdings	Pair Corr
0.72	KWR	Quaker Chemical	Pair Corr
0.84	LIN	Linde plc Ordinary	Pair Corr
0.84	NEU	NewMarket	Pair Corr
0.86	PPG	PPG Industries	Pair Corr
0.81	PRM	Perimeter Solutions Sell-off Trend	Pair Corr
0.71	RPM	RPM International Earnings Call This Week	Pair Corr
0.89	SCL	Stepan Company	Pair Corr
0.84	SSL	Sasol	Pair Corr
0.84	SXT	Sensient Technologies Earnings Call This Week	Pair Corr
0.73	HWKN	Hawkins	Pair Corr

Moving against Ecolab Stock

0.68	KRO	Kronos Worldwide	Pair Corr
0.64	FEAM	5E Advanced Materials	Pair Corr
0.68	WLK	Westlake Chemical	Pair Corr
0.59	OEC	Orion Engineered Carbons	Pair Corr
0.41	SDSTW	Stardust Power	Pair Corr
0.31	TSE	Trinseo SA	Pair Corr

Related Correlations Analysis

	LIN	PPG	SHW	LYB	APD	ALB	RPM	IFF	CBT	WLK
LIN		0.73	0.38	0.55	0.77	0.55	0.65	0.3	0.07	-0.49	LIN
PPG	0.73		0.58	0.63	0.84	0.74	0.82	0.4	-0.06	-0.44	PPG
SHW	0.38	0.58		-0.08	0.24	0.07	0.85	0.61	-0.17	-0.44	SHW
LYB	0.55	0.63	-0.08		0.85	0.91	0.29	0.18	0.41	0.16	LYB
APD	0.77	0.84	0.24	0.85		0.91	0.57	0.28	0.22	-0.19	APD
ALB	0.55	0.74	0.07	0.91	0.91		0.42	0.21	0.28	0.04	ALB
RPM	0.65	0.82	0.85	0.29	0.57	0.42		0.52	-0.2	-0.55	RPM
IFF	0.3	0.4	0.61	0.18	0.28	0.21	0.52		0.12	-0.1	IFF
CBT	0.07	-0.06	-0.17	0.41	0.22	0.28	-0.2	0.12		0.74	CBT
WLK	-0.49	-0.44	-0.44	0.16	-0.19	0.04	-0.55	-0.1	0.74		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

ALB	+ 0.91	LYB
ALB	+ 0.91	APD
RPM	+ 0.85	SHW
APD	+ 0.85	LYB
APD	+ 0.84	PPG
RPM	+ 0.82	PPG

High negative correlations

WLK	- 0.55	RPM
WLK	- 0.49	LIN
WLK	- 0.44	SHW
WLK	- 0.44	PPG
CBT	- 0.2	RPM
WLK	- 0.19	APD

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	0.75	(0.02)	(0.08)	0.10	0.83	(0.83)	1.61	(1.41)	4.18
PPG	1.28	0.04	0.04	0.16	1.41	(1.41)	2.58	(1.84)	10.13
SHW	1.08	(0.15)	(0.08)	0.00	1.52	(1.12)	2.99	(2.03)	10.50
LYB	1.62	0.04	0.04	0.17	1.36	(2.11)	3.59	(2.34)	9.95
APD	1.02	0.00	0.00	0.14	1.07	(1.07)	2.01	(1.95)	5.20
ALB	2.40	0.31	0.13	0.34	2.36	(2.61)	6.29	(4.43)	12.52
RPM	1.09	(0.08)	(0.02)	0.07	1.51	(1.13)	2.59	(1.92)	9.28
IFF	1.28	(0.05)	(0.03)	0.07	1.86	(1.19)	2.09	(2.44)	9.72
CBT	1.21	(0.21)	0.00	(0.07)	0.00	0.00	2.74	(2.42)	9.23
WLK	2.07	(0.23)	0.00	(0.12)	0.00	0.00	5.08	(4.05)	16.38

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