PBR vs. EC
PBR (Petróleo Brasileiro S.A. - Petrobras) and EC (Ecopetrol S.A.) are both stocks. Both operate in the Oil & Gas Integrated industry within the Energy sector. Over the past 10 years, PBR returned 21.43%/yr vs 16.50%/yr for EC. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
PBR vs. EC - Performance Comparison
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Returns By Period
In the year-to-date period, PBR achieves a 45.67% return, which is significantly lower than EC's 62.48% return. Over the past 10 years, PBR has outperformed EC with an annualized return of 21.43%, while EC has yielded a comparatively lower 16.50% annualized return.
PBR
- 1D
- 0.12%
- 1M
- -13.77%
- YTD
- 45.67%
- 6M
- 48.97%
- 1Y
- 41.03%
- 3Y*
- 15.49%
- 5Y*
- 29.18%
- 10Y*
- 21.43%
EC
- 1D
- -4.55%
- 1M
- 11.99%
- YTD
- 62.48%
- 6M
- 71.74%
- 1Y
- 82.45%
- 3Y*
- 37.94%
- 5Y*
- 18.22%
- 10Y*
- 16.50%
PBR vs. EC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBR Petróleo Brasileiro S.A. - Petrobras | 45.67% | -1.01% | -8.38% | 71.48% | 47.76% | 20.44% | -28.83% | 24.65% | 27.68% | 1.78% |
EC Ecopetrol S.A. | 62.48% | 58.65% | -24.25% | 41.83% | -5.04% | 0.57% | -29.31% | 38.58% | 11.95% | 64.34% |
Correlation
The correlation between PBR and EC is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
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 PBR and EC has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
Fundamentals
PBR:
$109.75B
EC:
$31.88B
PBR:
$3.16
EC:
COP 4.26K
PBR:
5.40
EC:
12.46
PBR:
1.18
EC:
0.93
PBR:
1.29
EC:
1.36
PBR:
$93.27B
EC:
COP 116.38T
PBR:
$43.47B
EC:
COP 37.91T
PBR:
$41.03B
EC:
COP 42.24T
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Return for Risk
PBR vs. EC — Risk / Return Rank
PBR
EC
PBR vs. EC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Petróleo Brasileiro S.A. - Petrobras (PBR) and Ecopetrol S.A. (EC). 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.
| PBR | EC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 6.28 | -4.52 |
| Martin ratioReturn relative to average drawdown | 5.05 | 14.50 | -9.45 |
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Drawdowns
PBR vs. EC - Drawdown Comparison
The maximum PBR drawdown since its inception was -95.62%, which is greater than EC's maximum drawdown of -90.16%. Use the drawdown chart below to compare losses from any high point for PBR and EC.
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Drawdown Indicators
| PBR | EC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.62% | -90.16% | -5.46% |
Max Drawdown (1Y)Largest decline over 1 year | -23.38% | -13.20% | -10.18% |
Max Drawdown (3Y)Largest decline over 3 years | -28.24% | -38.00% | +9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -39.62% | -48.60% | +8.98% |
Max Drawdown (10Y)Largest decline over 10 years | -75.13% | -73.36% | -1.77% |
Current DrawdownCurrent decline from peak | -29.03% | -21.43% | -7.60% |
Average DrawdownAverage peak-to-trough decline | -52.68% | -51.13% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 5.70% | +2.45% |
Volatility
PBR vs. EC - Volatility Comparison
The current volatility for Petróleo Brasileiro S.A. - Petrobras (PBR) is 7.64%, while Ecopetrol S.A. (EC) has a volatility of 17.42%. This indicates that PBR experiences smaller price fluctuations and is considered to be less risky than EC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBR | EC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.64% | 17.42% | -9.78% |
Volatility (6M)Calculated over the trailing 6-month period | 25.04% | 31.93% | -6.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.63% | 38.46% | -6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.94% | 37.92% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.81% | 40.87% | +5.94% |
Dividends
PBR vs. EC - Dividend Comparison
PBR's dividend yield for the trailing twelve months is around 4.15%, less than EC's 7.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EC Ecopetrol S.A. | 7.62% | 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 | 4.15% | 7.10% | 14.73% | 10.91% | 55.64% | 18.95% | 0.84% | 1.59% | 1.03% | 0.00% | 0.00% | 0.00% |
Financials
PBR vs. EC - Financials Comparison
This section allows you to compare key financial metrics between Petróleo Brasileiro S.A. - Petrobras and Ecopetrol S.A.. 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
PBR vs. EC - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
PBR and EC have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EC has higher volatility (17.42%) compared to PBR (7.64%). In terms of maximum drawdown, PBR dropped -95.62% vs EC's -90.16%.
EC currently has the higher Sharpe Ratio (2.17 vs 1.31), 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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