ECL vs LIN: Correlation
How closely do Ecolab (ECL) and Linde plc (LIN) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and LIN?
Across a 3-year window, the weekly returns of ECL and LIN correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.53). Stretching to 5 years gives 0.54, with an annualized covariance of 171.8 %².
Within ECL's tracked universe of 53 assets, LIN comes in at #20 by 3-year correlation. Their 12-month results are close: +3.1% for ECL against +1.9% for LIN. The rolling one-year correlation moved between 0.33 and 0.75 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 LIN: side by side
| ECL (Ecolab) | LIN (Linde plc) | |
|---|---|---|
| 1-year return | +3.1% | +1.9% |
| 5-year return | +34.0% | +64.6% |
| Volatility (ann.) | 19.5% | 16.5% |
| Beta vs S&P 500 | 0.64 | 0.37 |
| Max drawdown (3Y) | -20.1% | -19.2% |
| Market cap | $80.1B | $223.7B |
| P/E (trailing) | 39.1 | 31.6 |
| Dividend yield | 0.98% | 1.26% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | ECL | LIN |
|---|---|---|
| 2022 | -37.1% | -4.4% |
| 2023 | +37.9% | +27.7% |
| 2024 | +19.3% | +3.2% |
| 2025 | +13.2% | +3.2% |
| 2026 | +9.5% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and LIN good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ECL and LIN?
The ECL/LIN correlation stands at 0.53 on a 3-year window (1 year: 0.36, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is LIN a good diversifier for ECL?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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
$ curl https://www.pairbook.io/api/v1/pairs/ecl-vs-lin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecl-vs-lin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECL correlations · LIN correlations
