OLN vs. WLK

Last updated Jun 3, 2026

OLN (Olin Corporation) and WLK (Westlake Corporation) are both stocks. Both operate in the Specialty Chemicals industry within the Basic Materials sector. Over the past 10 years, OLN returned 4.18%/yr vs 8.45%/yr for WLK. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

OLN vs. WLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Olin Corporation (OLN) and Westlake Corporation (WLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OLN achieves a 26.36% return, which is significantly higher than WLK's 18.73% return. Over the past 10 years, OLN has underperformed WLK with an annualized return of 4.18%, while WLK has yielded a comparatively higher 8.45% annualized return.

OLN

• 1D: 0.74%
• 1M: -8.72%
• YTD: 26.36%
• 6M: 23.92%
• 1Y: 39.84%
• 3Y*: -18.35%
• 5Y*: -10.36%
• 10Y*: 4.18%

WLK

• 1D: 0.52%
• 1M: -24.04%
• YTD: 18.73%
• 6M: 31.81%
• 1Y: 27.64%
• 3Y*: -6.60%
• 5Y*: -2.14%
• 10Y*: 8.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OLN vs. WLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OLN Olin Corporation	26.36%	-36.15%	-36.29%	3.46%	-6.63%	138.55%	50.81%	-10.77%	-41.88%	42.51%
WLK Westlake Corporation	18.73%	-33.77%	-16.90%	38.23%	6.81%	20.53%	18.52%	7.72%	-37.27%	92.39%

Correlation

The correlation between OLN and WLK is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 12, 2004	0.63

The correlation between OLN and WLK shifts across timeframes, from 0.63 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap OLN : $2.95B WLK : $11.11B
EPS OLN : -$1.11 WLK : -$12.75
PS Ratio OLN : 0.44 WLK : 1.02
PB Ratio OLN : 1.70 WLK : 1.30
Total Revenue (TTM) OLN : $6.72B WLK : $10.98B
Gross Profit (TTM) OLN : $352.80M WLK : $169.00M
EBITDA (TTM) OLN : $374.70M WLK : -$659.00M

Return for Risk

OLN vs. WLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OLN

OLN Risk / Return Rank: 62
OLN Sharpe Ratio Rank: 63
OLN Sortino Ratio Rank: 61
OLN Omega Ratio Rank: 58
OLN Calmar Ratio Rank: 64
OLN Martin Ratio Rank: 65

WLK

WLK Risk / Return Rank: 57
WLK Sharpe Ratio Rank: 60
WLK Sortino Ratio Rank: 58
WLK Omega Ratio Rank: 53
WLK Calmar Ratio Rank: 55
WLK Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OLN vs. WLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Olin Corporation (OLN) and Westlake Corporation (WLK). 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.

	OLN	WLK	Difference
Sharpe ratio Return per unit of total volatility	0.72	0.59	+0.13
Sortino ratio Return per unit of downside risk	1.32	1.20	+0.12
Omega ratio Gain probability vs. loss probability	1.16	1.13	+0.03
Calmar ratio Return relative to maximum drawdown	1.21	0.67	+0.54
Martin ratio Return relative to average drawdown	2.87	1.77	+1.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OLN vs. WLK - Sharpe Ratio Comparison

The current OLN Sharpe Ratio is 0.72, which is comparable to the WLK Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of OLN and WLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OLN	WLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	0.59	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.06	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.22	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.32	-0.18

Drawdowns

OLN vs. WLK - Drawdown Comparison

The maximum OLN drawdown since its inception was -73.80%, roughly equal to the maximum WLK drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for OLN and WLK.

Drawdown Indicators

	OLN	WLK	Difference
Max Drawdown Largest peak-to-trough decline	-73.80%	-75.16%	+1.36%
Max Drawdown (1Y) Largest decline over 1 year	-31.45%	-37.77%	+6.32%
Max Drawdown (3Y) Largest decline over 3 years	-69.26%	-64.20%	-5.06%
Max Drawdown (5Y) Largest decline over 5 years	-71.87%	-64.20%	-7.67%
Max Drawdown (10Y) Largest decline over 10 years	-73.80%	-75.16%	+1.36%
Current Drawdown Current decline from peak	-57.63%	-43.77%	-13.86%
Average Drawdown Average peak-to-trough decline	-24.94%	-26.20%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.30%	14.42%	-1.12%

Volatility

OLN vs. WLK - Volatility Comparison

Olin Corporation (OLN) and Westlake Corporation (WLK) have volatilities of 12.82% and 13.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OLN	WLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.82%	13.02%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	39.33%	33.02%	+6.31%
Volatility (1Y) Calculated over the trailing 1-year period	55.95%	47.19%	+8.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.87%	36.98%	+7.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.14%	39.38%	+7.76%

Dividends

OLN vs. WLK - Dividend Comparison

OLN's dividend yield for the trailing twelve months is around 3.09%, more than WLK's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OLN Olin Corporation	3.09%	3.84%	2.37%	1.48%	1.51%	1.39%	3.26%	4.64%	3.98%	2.25%	3.12%	4.63%
WLK Westlake Corporation	2.44%	2.85%	1.79%	1.12%	1.28%	1.17%	1.31%	1.46%	1.39%	0.75%	1.33%	1.28%

Financials

OLN vs. WLK - Profitability Comparison

The chart below illustrates the profitability comparison between Olin Corporation and Westlake Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OLN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Olin Corporation reported a gross profit of 0.00 and revenue of 1.58B. Therefore, the gross margin over that period was 0.0%.

WLK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported a gross profit of 112.00M and revenue of 2.65B. Therefore, the gross margin over that period was 4.2%.

OLN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Olin Corporation reported an operating income of -78.30M and revenue of 1.58B, resulting in an operating margin of -5.0%.

WLK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported an operating income of -172.00M and revenue of 2.65B, resulting in an operating margin of -6.5%.

OLN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Olin Corporation reported a net income of -83.00M and revenue of 1.58B, resulting in a net margin of -5.2%.

WLK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported a net income of -169.00M and revenue of 2.65B, resulting in a net margin of -6.4%.

Frequently Asked Questions

Can I hold both OLN and WLK in my portfolio?

OLN and WLK have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OLN or WLK?

WLK has higher volatility (13.02%) compared to OLN (12.82%). In terms of maximum drawdown, OLN dropped -73.80% vs WLK's -75.16%.

Which has better risk-adjusted returns?

OLN currently has the higher Sharpe Ratio (0.72 vs 0.59), 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.