ECL vs PPG: Correlation
How closely do Ecolab (ECL) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and PPG?
On 3 years of weekly data the ECL/PPG correlation comes out at 0.67, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. The 5-year figure is 0.68, and annualized covariance runs at 333.0 %².
In ECL's tracked universe of 53 assets, PPG sits right near the top at #2. Twelve-month performance is nearly a tie, at +3.1% for ECL and +3.8% for PPG. Stability stands out here, with the rolling one-year correlation confined to 0.58 through 0.78.
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 PPG: side by side
| ECL (Ecolab) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +3.1% | +3.8% |
| 5-year return | +34.0% | -22.0% |
| Volatility (ann.) | 19.5% | 25.5% |
| Beta vs S&P 500 | 0.64 | 0.90 |
| Max drawdown (3Y) | -20.1% | -37.4% |
| Market cap | $80.1B | $25.2B |
| P/E (trailing) | 39.1 | 16.4 |
| Dividend yield | 0.98% | 2.48% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | ECL | PPG |
|---|---|---|
| 2022 | -37.1% | -25.7% |
| 2023 | +37.9% | +21.2% |
| 2024 | +19.3% | -18.5% |
| 2025 | +13.2% | -12.0% |
| 2026 | +9.5% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and PPG good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ECL and PPG?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.67 over the last year and 0.68 over 5 years.
Is PPG a good diversifier for ECL?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ecl-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ecl-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ECL correlations · PPG correlations
