ECL vs MLM: Correlation
How closely do Ecolab (ECL) and Martin Marietta Materials (MLM) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and MLM?
On 3 years of weekly data the ECL/MLM correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.58, and annualized covariance runs at 219.2 %².
Among the 53 assets we track against ECL, MLM ranks #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ECL ahead by 16.9 points (+3.1% versus -13.8%). This link changes with the market regime, having swung between 0.20 and 0.75 on a rolling one-year basis.
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 MLM: side by side
| ECL (Ecolab) | MLM (Martin Marietta Materials) | |
|---|---|---|
| 1-year return | +3.1% | -13.8% |
| 5-year return | +34.0% | +42.4% |
| Volatility (ann.) | 19.5% | 23.9% |
| Beta vs S&P 500 | 0.64 | 0.85 |
| Max drawdown (3Y) | -20.1% | -26.8% |
| Market cap | $80.1B | $37.5B |
| P/E (trailing) | 39.1 | 34.4 |
| Dividend yield | 0.98% | 0.62% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | ECL | MLM |
|---|---|---|
| 2022 | -37.1% | -22.7% |
| 2023 | +37.9% | +48.6% |
| 2024 | +19.3% | +4.1% |
| 2025 | +13.2% | +21.3% |
| 2026 | +9.5% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and MLM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ECL and MLM?
As of 2026-08-27, the correlation of weekly returns between ECL and MLM is 0.47 over 3 years, 0.48 over 1 year and 0.58 over 5 years.
Is MLM a good diversifier for ECL?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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-mlm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecl-vs-mlm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ECL correlations · MLM correlations
