EC vs. FRO
EC (Ecopetrol S.A.) and FRO (Frontline Ltd.) are both stocks. Both are in the Energy sector — EC in Oil & Gas Integrated, FRO in Oil & Gas Midstream. Over the past 10 years, EC returned 17.04%/yr vs 26.31%/yr for FRO. At a 0.31 correlation, their price movements are largely independent.
Performance
EC vs. FRO - Performance Comparison
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Returns By Period
In the year-to-date period, EC achieves a 70.23% return, which is significantly lower than FRO's 105.17% return. Over the past 10 years, EC has underperformed FRO with an annualized return of 17.04%, while FRO has yielded a comparatively higher 26.31% annualized return.
EC
- 1D
- -1.99%
- 1M
- 17.33%
- YTD
- 70.23%
- 6M
- 83.41%
- 1Y
- 83.58%
- 3Y*
- 40.10%
- 5Y*
- 21.63%
- 10Y*
- 17.04%
FRO
- 1D
- 1.59%
- 1M
- 16.89%
- YTD
- 105.17%
- 6M
- 104.98%
- 1Y
- 141.62%
- 3Y*
- 56.36%
- 5Y*
- 48.00%
- 10Y*
- 26.31%
EC vs. FRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EC Ecopetrol S.A. | 70.23% | 58.65% | -24.25% | 41.83% | -5.04% | 0.57% | -29.31% | 38.58% | 11.95% | 64.34% |
FRO Frontline Ltd. | 105.17% | 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 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2008 | 0.31 |
The correlation between EC and FRO shifts across timeframes, from 0.12 (1 year) to 0.32 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
EC:
$33.41B
FRO:
$9.26B
EC:
COP 4.26K
FRO:
$4.06
EC:
13.14
FRO:
10.23
EC:
0.99
FRO:
4.11
EC:
1.44
FRO:
3.26
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 | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.45 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 6.37 | 6.65 | -0.29 |
| Martin ratioReturn relative to average drawdown | 14.74 | 18.91 | -4.17 |
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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 | -13.20% | -21.41% | +8.21% |
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 | -17.68% | -68.05% | +50.37% |
Average DrawdownAverage peak-to-trough decline | -51.13% | -67.84% | +16.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 7.60% | -1.85% |
Volatility
EC vs. FRO - Volatility Comparison
Ecopetrol S.A. (EC) has a higher volatility of 16.55% compared to Frontline Ltd. (FRO) at 13.58%. This indicates that EC's price experiences larger fluctuations and is considered to be riskier 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 | 16.55% | 13.58% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 31.56% | 32.28% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.23% | 42.18% | -3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.86% | 49.54% | -11.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.87% | 51.13% | -10.26% |
Dividends
EC vs. FRO - Dividend Comparison
EC's dividend yield for the trailing twelve months is around 7.27%, less than FRO's 7.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EC Ecopetrol S.A. | 7.27% | 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. | 7.53% | 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 Jun 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 Jun 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 Jun 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 Jun 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 Jun 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 Jun 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 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EC has higher volatility (16.55%) compared to FRO (13.58%). In terms of maximum drawdown, EC dropped -90.16% vs FRO's -98.36%.
FRO currently has the higher Sharpe Ratio (3.38 vs 2.20), 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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