EC vs. FRO
EC (Ecopetrol S.A.) and FRO (Frontline Ltd.) are both stocks. EC operates in Oil & Gas Integrated (Energy), while FRO operates in Marine Shipping (Industrials). Over the past 10 years, EC returned 19.54%/yr vs 26.54%/yr for FRO. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
EC vs. FRO - Performance Comparison
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Returns By Period
In the year-to-date period, EC achieves a 75.68% return, which is significantly lower than FRO's 94.26% return. Over the past 10 years, EC has underperformed FRO with an annualized return of 19.54%, while FRO has yielded a comparatively higher 26.54% annualized return.
EC
- 1D
- -1.58%
- 1M
- 14.08%
- 6M
- 40.04%
- YTD
- 75.68%
- 1Y
- 112.34%
- 3Y*
- 36.49%
- 5Y*
- 22.09%
- 10Y*
- 19.54%
- ALL TIME*
- 6.71%
FRO
- 1D
- 0.69%
- 1M
- 7.13%
- 6M
- 48.31%
- YTD
- 94.26%
- 1Y
- 130.96%
- 3Y*
- 45.97%
- 5Y*
- 49.01%
- 10Y*
- 26.54%
- ALL TIME*
- 7.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $34.19M | $36.57M | $44.75M | |
| $66.00M | $77.57M | $107.06M |
EC vs. FRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EC Ecopetrol S.A. | 75.68% | 58.65% | -24.25% | 41.83% | -5.04% | 0.57% | -29.31% | 38.58% | 11.95% | 64.34% |
FRO Frontline Ltd. | 94.26% | 61.17% | -22.48% | 96.23% | 73.67% | 13.67% | -41.47% | 134.59% | 20.48% | -32.17% |
Correlation
The correlation between EC and FRO is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2008 | 0.31 |
Over the past year, the correlation between EC and FRO has dropped to 0.10 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
EC:
$34.48B
FRO:
$8.76B
EC:
COP 4.26K
FRO:
$4.06
EC:
12.26
FRO:
9.69
EC:
0.92
FRO:
3.89
EC:
1.34
FRO:
3.08
EC:
COP 116.38T
FRO:
$2.25B
EC:
COP 37.91T
FRO:
$933.72M
EC:
COP 42.24T
FRO:
$1.21B
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Return for Risk
EC vs. FRO — Risk / Return Rank
EC
FRO
EC vs. FRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ecopetrol S.A. (EC) and Frontline Ltd. (FRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EC | FRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.43 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 7.81 | 6.38 | +1.43 |
| Martin ratioReturn relative to average drawdown | 18.87 | 16.21 | +2.66 |
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Drawdowns
EC vs. FRO - Drawdown Comparison
The maximum EC drawdown since its inception was -90.16%, smaller than the maximum FRO drawdown of -98.36%. Use the drawdown chart below to compare losses from any high point for EC and FRO.
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Drawdown Indicators
| EC | FRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.16% | -98.36% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -14.11% | -21.41% | +7.30% |
Max Drawdown (3Y)Largest decline over 3 years | -38.00% | -52.04% | +14.04% |
Max Drawdown (5Y)Largest decline over 5 years | -48.60% | -52.04% | +3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -73.36% | -52.04% | -21.32% |
Current DrawdownCurrent decline from peak | -15.05% | -69.74% | +54.69% |
Average DrawdownAverage peak-to-trough decline | -50.95% | -67.85% | +16.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.83% | 8.41% | -2.58% |
Volatility
EC vs. FRO - Volatility Comparison
The current volatility for Ecopetrol S.A. (EC) is 8.78%, while Frontline Ltd. (FRO) has a volatility of 12.24%. This indicates that EC experiences smaller price fluctuations and is considered to be less risky than FRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EC | FRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.78% | 12.24% | -3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 31.57% | 33.26% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.35% | 43.30% | -4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.73% | 49.77% | -12.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 51.17% | -10.36% |
Dividends
EC vs. FRO - Dividend Comparison
EC's dividend yield for the trailing twelve months is around 3.94%, less than FRO's 7.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EC Ecopetrol S.A. | 3.94% | 20.77% | 20.47% | 22.02% | 22.47% | 0.72% | 6.92% | 9.87% | 4.01% | 1.06% | 0.00% | 14.83% |
FRO Frontline Ltd. | 7.95% | 4.26% | 13.74% | 14.31% | 1.24% | 0.00% | 25.72% | 0.78% | 0.00% | 6.54% | 19.83% | 1.67% |
Financials
EC vs. FRO - Financials Comparison
This section allows you to compare key financial metrics between Ecopetrol S.A. and Frontline Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
EC vs. FRO - Profitability Comparison
EC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Ecopetrol S.A. reported a gross profit of 11.03T and revenue of 28.41T. Therefore, the gross margin over that period was 38.8%.
FRO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Frontline Ltd. reported a gross profit of 395.96M and revenue of 714.24M. Therefore, the gross margin over that period was 55.4%.
EC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Ecopetrol S.A. reported an operating income of 8.50T and revenue of 28.41T, resulting in an operating margin of 29.9%.
FRO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Frontline Ltd. reported an operating income of 370.04M and revenue of 714.24M, resulting in an operating margin of 51.8%.
EC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Ecopetrol S.A. reported a net income of 2.87T and revenue of 28.41T, resulting in a net margin of 10.1%.
FRO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Frontline Ltd. reported a net income of 559.12M and revenue of 714.24M, resulting in a net margin of 78.3%.
Frequently Asked Questions
EC and FRO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRO has higher volatility (12.24%) compared to EC (8.78%). In terms of maximum drawdown, EC dropped -90.16% vs FRO's -98.36%.
FRO currently has the higher Sharpe Ratio (3.16 vs 2.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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