AVY vs ECL: Correlation
How closely do Avery Dennison (AVY) and Ecolab (ECL) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and ECL?
On 3 years of weekly data the AVY/ECL correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.58 over 3. The 5-year figure is 0.58, and annualized covariance runs at 230.0 %².
Within AVY's tracked universe of 38 assets, ECL comes in at #11 by 3-year correlation. Twelve-month performance is nearly a tie, at +5.3% for AVY and +3.1% for ECL. On a rolling one-year basis the correlation drifted between 0.34 and 0.73, a moderate band.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AVY vs ECL: side by side
| AVY (Avery Dennison) | ECL (Ecolab) | |
|---|---|---|
| 1-year return | +5.3% | +3.1% |
| 5-year return | -14.0% | +34.0% |
| Volatility (ann.) | 20.2% | 19.5% |
| Beta vs S&P 500 | 0.61 | 0.64 |
| Max drawdown (3Y) | -30.6% | -20.1% |
| Market cap | $13.5B | $80.1B |
| P/E (trailing) | 20.0 | 39.1 |
| Dividend yield | 2.10% | 0.98% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AVY | ECL |
|---|---|---|
| 2022 | -15.1% | -37.1% |
| 2023 | +13.7% | +37.9% |
| 2024 | -5.9% | +19.3% |
| 2025 | -0.7% | +13.2% |
| 2026 | -0.8% | +9.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and ECL good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AVY and ECL?
The AVY/ECL correlation stands at 0.58 on a 3-year window (1 year: 0.53, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is ECL a good diversifier for AVY?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avy-vs-ecl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avy-vs-ecl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVY correlations · ECL correlations
