ICL vs IOSP: Correlation
How closely do ICL Group Ltd. (ICL) and Innospec Inc. (IOSP) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICL and IOSP?
On 3 years of weekly data the ICL/IOSP correlation comes out at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 389.0 %².
Within ICL's tracked universe of 10 assets, IOSP comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IOSP outperformed by 21.9 percentage points (-10.6% for ICL against +11.3% for IOSP).
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.
ICL vs IOSP: side by side
| ICL (ICL Group Ltd.) | IOSP (Innospec Inc.) | |
|---|---|---|
| 1-year return | -10.6% | +11.3% |
| 5-year return | +2.5% | +10.2% |
| Volatility (ann.) | 37.8% | 26.6% |
| Beta vs S&P 500 | 0.81 | 0.94 |
| Max drawdown (3Y) | -35.6% | -48.4% |
| Market cap | – | $2.3B |
| P/E (trailing) | 23.6 | 19.5 |
| Dividend yield | 3.64% | 1.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICL | IOSP |
|---|---|---|
| 2022 | -16.9% | +15.2% |
| 2023 | -27.2% | +21.5% |
| 2024 | +2.8% | -9.6% |
| 2025 | +17.1% | -28.9% |
| 2026 | +1.0% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICL and IOSP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ICL and IOSP?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.31 over the last year and 0.34 over 5 years.
Is IOSP a good diversifier for ICL?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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
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Related comparisons
Hubs: ICL correlations · IOSP correlations
