EC vs. PBR
EC (Ecopetrol S.A.) and PBR (Petróleo Brasileiro S.A. - Petrobras) are both stocks. Both operate in the Oil & Gas Integrated industry within the Energy sector. Over the past 10 years, EC returned 17.04%/yr vs 21.42%/yr for PBR. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
EC vs. PBR - Performance Comparison
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Returns By Period
In the year-to-date period, EC achieves a 70.23% return, which is significantly higher than PBR's 45.50% return. Over the past 10 years, EC has underperformed PBR with an annualized return of 17.04%, while PBR has yielded a comparatively higher 21.42% 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%
PBR
- 1D
- 1.55%
- 1M
- -13.87%
- YTD
- 45.50%
- 6M
- 50.20%
- 1Y
- 36.87%
- 3Y*
- 15.45%
- 5Y*
- 29.67%
- 10Y*
- 21.42%
EC vs. PBR - 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% |
PBR Petróleo Brasileiro S.A. - Petrobras | 45.50% | -1.01% | -8.38% | 71.48% | 47.76% | 20.44% | -28.83% | 24.65% | 27.68% | 1.78% |
Correlation
The correlation between EC and PBR is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2008 | 0.54 |
The correlation between EC and PBR has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
Fundamentals
EC:
$33.41B
PBR:
$109.62B
EC:
COP 4.26K
PBR:
$3.16
EC:
13.14
PBR:
5.39
EC:
0.99
PBR:
1.18
EC:
1.44
PBR:
1.29
EC:
COP 116.38T
PBR:
$93.27B
EC:
COP 37.91T
PBR:
$43.47B
EC:
COP 42.24T
PBR:
$41.03B
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Return for Risk
EC vs. PBR — Risk / Return Rank
EC
PBR
EC vs. PBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ecopetrol S.A. (EC) and Petróleo Brasileiro S.A. - Petrobras (PBR). 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 | PBR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.22 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 6.37 | 1.58 | +4.78 |
| Martin ratioReturn relative to average drawdown | 14.74 | 4.61 | +10.13 |
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Drawdowns
EC vs. PBR - Drawdown Comparison
The maximum EC drawdown since its inception was -90.16%, smaller than the maximum PBR drawdown of -95.62%. Use the drawdown chart below to compare losses from any high point for EC and PBR.
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Drawdown Indicators
| EC | PBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.16% | -95.62% | +5.46% |
Max Drawdown (1Y)Largest decline over 1 year | -13.20% | -23.38% | +10.18% |
Max Drawdown (3Y)Largest decline over 3 years | -38.00% | -28.24% | -9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -48.60% | -39.62% | -8.98% |
Max Drawdown (10Y)Largest decline over 10 years | -73.36% | -75.13% | +1.77% |
Current DrawdownCurrent decline from peak | -17.68% | -29.12% | +11.44% |
Average DrawdownAverage peak-to-trough decline | -51.13% | -52.68% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 8.06% | -2.31% |
Volatility
EC vs. PBR - Volatility Comparison
Ecopetrol S.A. (EC) has a higher volatility of 16.55% compared to Petróleo Brasileiro S.A. - Petrobras (PBR) at 7.79%. This indicates that EC's price experiences larger fluctuations and is considered to be riskier than PBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EC | PBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 7.79% | +8.76% |
Volatility (6M)Calculated over the trailing 6-month period | 31.56% | 25.05% | +6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.23% | 31.69% | +6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.86% | 37.94% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.87% | 46.86% | -5.99% |
Dividends
EC vs. PBR - Dividend Comparison
EC's dividend yield for the trailing twelve months is around 7.27%, more than PBR's 4.16% 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% |
PBR Petróleo Brasileiro S.A. - Petrobras | 4.16% | 7.10% | 14.73% | 10.91% | 55.64% | 18.95% | 0.84% | 1.59% | 1.03% | 0.00% | 0.00% | 0.00% |
Financials
EC vs. PBR - Financials Comparison
This section allows you to compare key financial metrics between Ecopetrol S.A. and Petróleo Brasileiro S.A. - Petrobras. 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. PBR - 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%.
PBR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Petróleo Brasileiro S.A. - Petrobras reported a gross profit of 10.60B and revenue of 23.53B. Therefore, the gross margin over that period was 45.0%.
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%.
PBR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Petróleo Brasileiro S.A. - Petrobras reported an operating income of 7.37B and revenue of 23.53B, resulting in an operating margin of 31.3%.
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%.
PBR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Petróleo Brasileiro S.A. - Petrobras reported a net income of 6.21B and revenue of 23.53B, resulting in a net margin of 26.4%.
Frequently Asked Questions
EC and PBR have a correlation of 0.55, 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 PBR (7.79%). In terms of maximum drawdown, EC dropped -90.16% vs PBR's -95.62%.
EC currently has the higher Sharpe Ratio (2.20 vs 1.17), 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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