ECL vs EFA: Correlation
How closely do Ecolab (ECL) and iShares MSCI EAFE ETF (EFA) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and EFA?
On 3 years of weekly data the ECL/EFA correlation comes out at 0.61, strong. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 177.7 %².
Within ECL's tracked universe of 53 assets, EFA comes in at #11 by 3-year correlation. The last year tells two different stories: EFA led by 18.8 percentage points, +3.1% for ECL against +21.9% for EFA. The rolling one-year correlation moved between 0.49 and 0.76 over the past three years, a moderate range.
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.
ECL vs EFA: side by side
| ECL (Ecolab) | EFA (iShares MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +3.1% | +21.9% |
| 5-year return | +34.0% | +56.7% |
| Volatility (ann.) | 19.5% | 14.9% |
| Beta vs S&P 500 | 0.64 | 0.77 |
| Max drawdown (3Y) | -20.1% | -14.1% |
| Market cap | $80.1B | – |
| P/E (trailing) | 39.1 | – |
| Dividend yield | 0.98% | 3.19% |
| Expense ratio | – | 0.32% |
| Assets under management | – | $78.0B |
| Sector / category | Materials | ETF · International |
EFA is a Foreign Large Blend fund from iShares: $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | ECL | EFA |
|---|---|---|
| 2022 | -37.1% | -14.4% |
| 2023 | +37.9% | +18.4% |
| 2024 | +19.3% | +3.5% |
| 2025 | +13.2% | +31.5% |
| 2026 | +9.5% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and EFA good diversifiers for each other?
Only partially. A correlation of 0.61 means ECL and EFA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ECL and EFA?
The ECL/EFA correlation stands at 0.61 on a 3-year window (1 year: 0.53, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is EFA a good diversifier for ECL?
Only partially. A correlation of 0.61 means ECL and EFA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ECL correlations · EFA correlations
