Ecolab Correlations

ECL Stock

USD 276.00 2.19 0.79%

The current 90-days correlation between Ecolab Inc and Sherwin Williams Co is 0.4 (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 0.43 (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.

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 banks.

Moving against Ecolab Stock

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0.46	BODALCHEM	Bodal Chemicals	Pair Corr
0.36	ASAHISONG	Asahi Songwon Colors	Pair Corr
0.35	CE	Celanese	Pair Corr
0.35	603663	Sanxiang Advanced	Pair Corr
0.65	NEOGEN	Neogen Chemicals	Pair Corr
0.57	VINYLINDIA	Vinyl Chemicals	Pair Corr
0.54	ROSSARI	Rossari Biotech	Pair Corr
0.57	VIDHIING	Vidhi Specialty Food	Pair Corr
0.51	TIRUMALCHM	Thirumalai Chemicals Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SHW	APD	CRH	BHP	AEM	FCX	B	NEM	PPG	SCCO
SHW		0.65	0.07	-0.1	-0.37	0.42	-0.32	-0.37	0.67	-0.58	SHW
APD	0.65		-0.57	-0.59	-0.81	0.5	-0.76	-0.83	0.88	-0.89	APD
CRH	0.07	-0.57		0.8	0.81	-0.06	0.83	0.83	-0.39	0.72	CRH
BHP	-0.1	-0.59	0.8		0.77	0.0	0.75	0.78	-0.31	0.77	BHP
AEM	-0.37	-0.81	0.81	0.77		-0.17	0.97	0.99	-0.68	0.93	AEM
FCX	0.42	0.5	-0.06	0.0	-0.17		-0.19	-0.19	0.55	-0.28	FCX
B	-0.32	-0.76	0.83	0.75	0.97	-0.19		0.97	-0.61	0.89	B
NEM	-0.37	-0.83	0.83	0.78	0.99	-0.19	0.97		-0.69	0.93	NEM
PPG	0.67	0.88	-0.39	-0.31	-0.68	0.55	-0.61	-0.69		-0.74	PPG
SCCO	-0.58	-0.89	0.72	0.77	0.93	-0.28	0.89	0.93	-0.74		SCCO
	SHW	APD	CRH	BHP	AEM	FCX	B	NEM	PPG	SCCO

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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

NEM	+ 0.99	AEM
B	+ 0.97	AEM
NEM	+ 0.97	B
SCCO	+ 0.93	AEM
SCCO	+ 0.93	NEM
SCCO	+ 0.89	B

High negative correlations

SCCO	- 0.89	APD
NEM	- 0.83	APD
AEM	- 0.81	APD
B	- 0.76	APD
SCCO	- 0.74	PPG
PPG	- 0.69	NEM

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
SHW	0.98	(0.07)	0.00	(0.04)	0.00	0.00	2.53	(1.59)	7.48
APD	0.93	(0.32)	0.00	(0.19)	0.00	0.00	1.97	(2.14)	6.24
CRH	1.32	0.25	0.25	0.28	0.81	(1.89)	3.13	(1.52)	11.27
BHP	1.14	0.00	0.00	0.06	1.44	(1.21)	2.66	(1.94)	8.41
AEM	1.58	0.38	0.12	2.42	2.29	(1.68)	4.41	(2.75)	13.50
FCX	2.03	(0.22)	0.00	(0.08)	0.00	0.00	3.85	(5.94)	20.70
B	1.89	0.56	0.18	0.95	2.36	(2.03)	4.20	(2.81)	19.01
NEM	1.69	0.52	0.18	1.42	2.20	(1.93)	4.54	(3.17)	15.91
PPG	1.06	(0.25)	0.00	(0.14)	0.00	0.00	2.16	(1.96)	6.53
SCCO	2.00	0.35	0.15	0.33	2.09	(2.13)	4.06	(3.98)	13.29

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