ECO vs FRO: Correlation
Measured on weekly returns over the past three years, Okeanis Eco Tankers Corp. (ECO) and Frontline Plc (FRO) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECO and FRO?
Over the past 3 years, ECO and FRO moved with a correlation of 0.76, which is strong. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1554.7 %².
In ECO's tracked universe of 13 assets, FRO sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months ECO outperformed by 60.2 percentage points (+189.8% for ECO against +129.6% for FRO).
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.
ECO vs FRO: side by side
| ECO (Okeanis Eco Tankers Corp.) | FRO (Frontline Plc) | |
|---|---|---|
| 1-year return | +189.8% | +129.6% |
| 5-year return | n/a | +771.5% |
| Volatility (ann.) | 44.3% | 46.1% |
| Beta vs S&P 500 | 0.52 | 0.57 |
| Max drawdown (3Y) | -46.1% | -52.0% |
| Market cap | $2.6B | $9.7B |
| P/E (trailing) | 5.8 | 10.2 |
| Dividend yield | 0.00% | 7.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECO | FRO |
|---|---|---|
| 2022 | – | +73.7% |
| 2023 | – | +96.2% |
| 2024 | -11.7% | -22.5% |
| 2025 | +64.2% | +57.3% |
| 2026 | +128.8% | +115.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECO and FRO good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ECO and FRO?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.86 over the last year and n/a over 5 years.
Is FRO a good diversifier for ECO?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 mean?
A reading of 0.76 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/eco-vs-fro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eco-vs-fro/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ECO correlations · FRO correlations
