ECL vs TAP: Correlation
How closely do Ecolab (ECL) and Molson Coors Beverage Company (TAP) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and TAP?
Across a 3-year window, the weekly returns of ECL and TAP correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.37, with an annualized covariance of 207.1 %².
Among the 53 assets we track against ECL, TAP ranks #35 by 3-year correlation. The last year tells two different stories: ECL led by 18.1 percentage points, +3.1% for ECL against -15.0% for TAP. On a rolling one-year basis the correlation drifted between 0.11 and 0.57, 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 TAP: side by side
| ECL (Ecolab) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | +3.1% | -15.0% |
| 5-year return | +34.0% | +3.9% |
| Volatility (ann.) | 19.5% | 23.9% |
| Beta vs S&P 500 | 0.64 | 0.15 |
| Max drawdown (3Y) | -20.1% | -38.8% |
| Market cap | $80.1B | $7.8B |
| P/E (trailing) | 39.1 | – |
| Dividend yield | 0.98% | 4.51% |
| Sector / category | Materials | Consumer Staples |
Year-by-year returns
| Year | ECL | TAP |
|---|---|---|
| 2022 | -37.1% | +14.4% |
| 2023 | +37.9% | +22.2% |
| 2024 | +19.3% | -3.4% |
| 2025 | +13.2% | -15.5% |
| 2026 | +9.5% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and TAP 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 TAP?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.50 over the last year and 0.37 over 5 years.
Is TAP 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-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecl-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ECL correlations · TAP correlations
