ECL vs KO: Correlation
Ecolab (ECL) and Coca-Cola Company (The) (KO) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and KO?
On 3 years of weekly data the ECL/KO correlation comes out at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 131.8 %².
By 3-year correlation, KO places #34 of the 53 assets tracked against ECL. Their recent paths diverged sharply: over the last 12 months KO outperformed by 30.0 percentage points (+3.1% for ECL against +33.1% for KO). On a rolling one-year basis the correlation drifted between 0.15 and 0.61, 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.
ECL vs KO: side by side
| ECL (Ecolab) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | +3.1% | +33.1% |
| 5-year return | +34.0% | +83.8% |
| Volatility (ann.) | 19.5% | 15.4% |
| Beta vs S&P 500 | 0.64 | 0.11 |
| Max drawdown (3Y) | -20.1% | -15.5% |
| Market cap | $80.1B | $383.2B |
| P/E (trailing) | 39.1 | 27.0 |
| Dividend yield | 0.98% | 2.31% |
| Sector / category | Materials | Consumer Staples |
Year-by-year returns
| Year | ECL | KO |
|---|---|---|
| 2022 | -37.1% | +10.6% |
| 2023 | +37.9% | -4.4% |
| 2024 | +19.3% | +8.9% |
| 2025 | +13.2% | +15.6% |
| 2026 | +9.5% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and KO good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ECL and KO?
As of 2026-08-27, the correlation of weekly returns between ECL and KO is 0.44 over 3 years, 0.51 over 1 year and 0.47 over 5 years.
Is KO a good diversifier for ECL?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 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/ecl-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ecl-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ECL correlations · KO correlations
