Air Products and Chemicals Inc. vs Linde plc
WatchlistAPD / LINPrices through Oct 22, 2026
Why these are rivals: #1 and #2 by market value ($232B vs $67B) in Nasdaq's "Major Chemicals" industry; SEC SIC 2810 / 2810 (same major group); #1 and #2 by market value ($232B vs $67B) with SEC SIC 2810 (Industrial Inorganic Chemicals).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Co-movement: daily return correlation, 252 sessions: 0.51 (needs >= 0.60)
- Mean reversion: ADF t-statistic of the spread: -2.76 (needs <= -2.873 (5% critical value))
Business leadership
LIN is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | APD | LIN | Larger |
|---|---|---|---|
| 2025 | $12.0B | $34.0B | LIN |
| 2024 | $12.1B | $33.0B | LIN |
| 2023 | $12.6B | $32.9B | LIN |
| 2022 | $12.7B | $33.4B | LIN |
| 2021 | $10.3B | $30.8B | LIN |
| 2020 | $8.9B | $27.2B | LIN |
LIN led in every year with figures for both. Market value: APD $66.5B, LIN $232.1B.
Stock leadership
APD is ahead now
Measured against the pair's own last 252 trading days.
APD leads LIN by 0.53 standard deviations: +2.4% over its usual price ratio. 9 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| APD | +3.5% | +1.5% | +21.0% |
| LIN | -0.4% | +0.5% | +13.4% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 915 (needs >= 254)
- Fail
- Co-movement: daily return correlation, 252 sessions: 0.51 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -2.76 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 11.92 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
APD Air Products and Chemicals Inc. LIN Linde plcPrice index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: APD relative to LIN, against the 252 sessions before each day. Above 0: APD ahead; below 0: LIN ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | APD index | LIN index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 92.81 | 104.92 | +0.53 | APD ahead |
| 2026-10-21 | 91.14 | 102.90 | +0.56 | APD ahead |
| 2026-10-20 | 91.11 | 103.17 | +0.50 | APD ahead |
| 2026-10-19 | 89.93 | 103.49 | +0.14 | near the usual relationship |
| 2026-10-16 | 90.21 | 102.46 | +0.44 | near the usual relationship |
| 2026-10-15 | 89.31 | 101.39 | +0.46 | near the usual relationship |
| 2026-10-14 | 88.08 | 101.28 | +0.17 | near the usual relationship |
| 2026-10-13 | 87.01 | 101.16 | -0.08 | near the usual relationship |
| 2026-10-12 | 85.48 | 100.19 | -0.26 | near the usual relationship |
| 2026-10-09 | 84.69 | 99.44 | -0.30 | near the usual relationship |
| 2026-10-08 | 83.82 | 99.02 | -0.43 | near the usual relationship |
| 2026-10-07 | 83.75 | 99.49 | -0.56 | LIN ahead |
| 2026-10-06 | 84.61 | 100.72 | -0.61 | LIN ahead |
| 2026-10-05 | 84.15 | 99.16 | -0.38 | near the usual relationship |
| 2026-10-02 | 83.58 | 98.57 | -0.40 | near the usual relationship |
| 2026-10-01 | 82.30 | 96.51 | -0.26 | near the usual relationship |
| 2026-09-30 | 83.78 | 97.57 | -0.11 | near the usual relationship |
| 2026-09-29 | 84.07 | 97.31 | +0.03 | near the usual relationship |
| 2026-09-28 | 83.94 | 97.04 | +0.07 | near the usual relationship |
| 2026-09-25 | 84.84 | 96.60 | +0.41 | near the usual relationship |
| 2026-09-24 | 85.66 | 96.24 | +0.72 | APD ahead |
| 2026-09-23 | 86.41 | 96.56 | +0.84 | APD ahead |
| 2026-09-22 | 86.68 | 95.57 | +1.14 | APD ahead |
| 2026-09-21 | 84.15 | 94.05 | +0.84 | APD ahead |
| 2026-09-18 | 85.57 | 94.64 | +1.08 | APD ahead |
| 2026-09-17 | 86.15 | 94.25 | +1.33 | APD ahead |
| 2026-09-16 | 86.44 | 94.99 | +1.23 | APD ahead |
| 2026-09-15 | 87.49 | 95.17 | +1.47 | APD ahead |
| 2026-09-14 | 86.46 | 95.47 | +1.13 | APD ahead |
| 2026-09-11 | 87.75 | 95.84 | +1.39 | APD ahead |
| 2026-09-10 | 88.42 | 94.90 | +1.80 | APD ahead |
| 2026-09-09 | 88.90 | 95.93 | +1.69 | APD ahead |
| 2026-09-08 | 89.64 | 96.29 | +1.80 | APD ahead |
| 2026-09-04 | 90.72 | 98.17 | +1.64 | APD ahead |
| 2026-09-03 | 91.60 | 99.12 | +1.65 | APD ahead |
| 2026-09-02 | 93.18 | 100.21 | +1.80 | APD ahead |
| 2026-09-01 | 91.94 | 100.06 | +1.53 | APD ahead |
| 2026-08-31 | 93.18 | 100.64 | +1.72 | APD ahead |
| 2026-08-28 | 92.77 | 100.63 | +1.62 | APD ahead |
| 2026-08-27 | 91.98 | 99.77 | +1.63 | APD ahead |
| 2026-08-26 | 92.34 | 100.80 | +1.49 | APD ahead |
| 2026-08-25 | 91.49 | 100.15 | +1.42 | APD ahead |
| 2026-08-24 | 92.21 | 100.74 | +1.48 | APD ahead |
| 2026-08-21 | 91.87 | 100.23 | +1.52 | APD ahead |
| 2026-08-20 | 90.43 | 98.94 | +1.46 | APD ahead |
| 2026-08-19 | 91.30 | 98.91 | +1.71 | APD ahead |
| 2026-08-18 | 91.31 | 98.41 | +1.84 | APD ahead |
| 2026-08-17 | 90.59 | 97.51 | +1.89 | APD ahead |
| 2026-08-14 | 93.04 | 99.24 | +2.12 | APD ahead |
| 2026-08-13 | 92.00 | 98.30 | +2.10 | APD ahead |
| 2026-08-12 | 91.56 | 98.56 | +1.94 | APD ahead |
| 2026-08-11 | 93.14 | 100.84 | +1.80 | APD ahead |
| 2026-08-10 | 92.80 | 101.24 | +1.62 | APD ahead |
| 2026-08-07 | 91.37 | 100.73 | +1.36 | APD ahead |
| 2026-08-06 | 90.31 | 100.75 | +1.06 | APD ahead |
| 2026-08-05 | 88.86 | 100.95 | +0.60 | APD ahead |
| 2026-08-04 | 88.74 | 99.63 | +0.90 | APD ahead |
| 2026-08-03 | 88.21 | 98.77 | +0.96 | APD ahead |
| 2026-07-31 | 88.80 | 98.34 | +1.23 | APD ahead |
| 2026-07-30 | 90.39 | 104.56 | +0.14 | near the usual relationship |
| 2026-07-29 | 88.61 | 105.08 | -0.48 | near the usual relationship |
| 2026-07-28 | 88.18 | 105.08 | -0.60 | LIN ahead |
| 2026-07-27 | 88.10 | 104.23 | -0.43 | near the usual relationship |
| 2026-07-24 | 89.69 | 105.31 | -0.25 | near the usual relationship |
| 2026-07-23 | 88.61 | 104.08 | -0.27 | near the usual relationship |
| 2026-07-22 | 89.43 | 104.57 | -0.17 | near the usual relationship |
| 2026-07-21 | 89.25 | 103.82 | -0.05 | near the usual relationship |
| 2026-07-20 | 89.32 | 105.26 | -0.37 | near the usual relationship |
| 2026-07-17 | 89.02 | 105.50 | -0.51 | LIN ahead |
| 2026-07-16 | 89.52 | 107.05 | -0.72 | LIN ahead |
| 2026-07-15 | 88.43 | 105.69 | -0.71 | LIN ahead |
| 2026-07-14 | 90.15 | 107.42 | -0.65 | LIN ahead |
| 2026-07-13 | 90.92 | 107.73 | -0.52 | LIN ahead |
| 2026-07-10 | 90.19 | 108.91 | -0.97 | LIN ahead |
| 2026-07-09 | 89.08 | 108.04 | -1.08 | LIN ahead |
| 2026-07-08 | 89.36 | 108.47 | -1.11 | LIN ahead |
| 2026-07-07 | 91.85 | 110.64 | -0.94 | LIN ahead |
| 2026-07-06 | 93.00 | 111.12 | -0.76 | LIN ahead |
| 2026-07-02 | 94.61 | 112.37 | -0.62 | LIN ahead |
| 2026-07-01 | 92.26 | 109.68 | -0.65 | LIN ahead |
| 2026-06-30 | 88.28 | 106.68 | -1.03 | LIN ahead |
| 2026-06-29 | 81.71 | 105.06 | -2.51 | LIN ahead |
| 2026-06-26 | 83.65 | 106.82 | -2.39 | LIN ahead |
| 2026-06-25 | 84.29 | 107.37 | -2.36 | LIN ahead |
| 2026-06-24 | 83.93 | 106.02 | -2.20 | LIN ahead |
| 2026-06-23 | 85.05 | 105.31 | -1.73 | LIN ahead |
| 2026-06-22 | 85.25 | 106.22 | -1.90 | LIN ahead |
| 2026-06-18 | 84.38 | 105.28 | -1.96 | LIN ahead |
| 2026-06-17 | 84.84 | 106.04 | -2.03 | LIN ahead |
| 2026-06-16 | 84.46 | 106.52 | -2.29 | LIN ahead |
| 2026-06-15 | 85.20 | 107.20 | -2.26 | LIN ahead |
| 2026-06-12 | 84.80 | 107.63 | -2.52 | LIN ahead |
| 2026-06-11 | 83.75 | 105.96 | -2.48 | LIN ahead |
| 2026-06-10 | 83.26 | 104.67 | -2.35 | LIN ahead |
| 2026-06-09 | 85.21 | 105.99 | -2.10 | LIN ahead |
| 2026-06-08 | 83.34 | 103.18 | -1.99 | LIN ahead |
| 2026-06-05 | 85.02 | 104.41 | -1.80 | LIN ahead |
| 2026-06-04 | 85.17 | 104.32 | -1.74 | LIN ahead |
| 2026-06-03 | 85.00 | 104.34 | -1.82 | LIN ahead |
| 2026-06-02 | 84.10 | 101.94 | -1.49 | LIN ahead |
| 2026-06-01 | 83.98 | 102.25 | -1.63 | LIN ahead |
| 2026-05-29 | 83.90 | 102.31 | -1.69 | LIN ahead |
| 2026-05-28 | 85.41 | 103.19 | -1.44 | LIN ahead |
| 2026-05-27 | 86.04 | 104.40 | -1.57 | LIN ahead |
| 2026-05-26 | 87.20 | 105.86 | -1.60 | LIN ahead |
| 2026-05-22 | 87.16 | 106.40 | -1.77 | LIN ahead |
| 2026-05-21 | 87.38 | 105.77 | -1.54 | LIN ahead |
| 2026-05-20 | 87.08 | 104.15 | -1.21 | LIN ahead |
| 2026-05-19 | 87.86 | 104.03 | -0.94 | LIN ahead |
| 2026-05-18 | 88.32 | 105.02 | -1.06 | LIN ahead |
| 2026-05-15 | 88.94 | 104.04 | -0.60 | LIN ahead |
| 2026-05-14 | 90.30 | 105.18 | -0.49 | near the usual relationship |
| 2026-05-13 | 92.20 | 105.51 | +0.01 | near the usual relationship |
| 2026-05-12 | 91.42 | 103.58 | +0.29 | near the usual relationship |
| 2026-05-11 | 91.69 | 103.69 | +0.35 | near the usual relationship |
| 2026-05-08 | 88.95 | 101.38 | +0.13 | near the usual relationship |
| 2026-05-07 | 88.83 | 101.52 | +0.05 | near the usual relationship |
| 2026-05-06 | 90.40 | 103.17 | +0.09 | near the usual relationship |
| 2026-05-05 | 91.52 | 102.85 | +0.53 | APD ahead |
| 2026-05-04 | 89.84 | 101.46 | +0.39 | near the usual relationship |
| 2026-05-01 | 90.66 | 104.41 | -0.17 | near the usual relationship |
| 2026-04-30 | 90.35 | 103.02 | +0.12 | near the usual relationship |
| 2026-04-29 | 91.09 | 103.75 | +0.14 | near the usual relationship |
| 2026-04-28 | 91.34 | 104.90 | -0.09 | near the usual relationship |
| 2026-04-27 | 91.05 | 105.00 | -0.21 | near the usual relationship |
| 2026-04-24 | 90.86 | 104.90 | -0.24 | near the usual relationship |
| 2026-04-23 | 91.43 | 104.44 | +0.07 | near the usual relationship |
| 2026-04-22 | 89.36 | 101.68 | +0.18 | near the usual relationship |
| 2026-04-21 | 88.76 | 101.72 | -0.02 | near the usual relationship |
| 2026-04-20 | 89.17 | 102.41 | -0.08 | near the usual relationship |
| 2026-04-17 | 87.87 | 101.19 | -0.15 | near the usual relationship |
| 2026-04-16 | 89.50 | 102.63 | -0.03 | near the usual relationship |
| 2026-04-15 | 88.89 | 102.36 | -0.16 | near the usual relationship |
| 2026-04-14 | 89.32 | 102.71 | -0.12 | near the usual relationship |
| 2026-04-13 | 89.93 | 104.61 | -0.45 | near the usual relationship |
| 2026-04-10 | 89.95 | 103.43 | -0.13 | near the usual relationship |
| 2026-04-09 | 89.65 | 103.46 | -0.23 | near the usual relationship |
| 2026-04-08 | 89.31 | 102.88 | -0.18 | near the usual relationship |
| 2026-04-07 | 88.04 | 101.67 | -0.25 | near the usual relationship |
| 2026-04-06 | 88.56 | 102.68 | -0.37 | near the usual relationship |
| 2026-04-02 | 88.39 | 103.32 | -0.61 | LIN ahead |
| 2026-04-01 | 87.15 | 101.52 | -0.51 | LIN ahead |
| 2026-03-31 | 87.47 | 101.91 | -0.53 | LIN ahead |
| 2026-03-30 | 87.79 | 102.63 | -0.63 | LIN ahead |
| 2026-03-27 | 87.98 | 100.96 | -0.12 | near the usual relationship |
| 2026-03-26 | 88.28 | 101.86 | -0.28 | near the usual relationship |
| 2026-03-25 | 87.35 | 101.21 | -0.40 | near the usual relationship |
| 2026-03-24 | 86.19 | 98.64 | -0.07 | near the usual relationship |
| 2026-03-23 | 83.91 | 98.27 | -0.70 | LIN ahead |
| 2026-03-20 | 84.62 | 100.35 | -1.04 | LIN ahead |
| 2026-03-19 | 85.56 | 100.69 | -0.84 | LIN ahead |
| 2026-03-18 | 84.74 | 100.44 | -1.03 | LIN ahead |
| 2026-03-17 | 86.16 | 101.56 | -0.90 | LIN ahead |
| 2026-03-16 | 87.07 | 102.25 | -0.81 | LIN ahead |
| 2026-03-13 | 86.71 | 101.54 | -0.73 | LIN ahead |
| 2026-03-12 | 87.47 | 100.81 | -0.33 | near the usual relationship |
| 2026-03-11 | 83.62 | 98.99 | -1.02 | LIN ahead |
| 2026-03-10 | 82.84 | 98.25 | -1.07 | LIN ahead |
| 2026-03-09 | 82.63 | 99.42 | -1.43 | LIN ahead |
| 2026-03-06 | 81.96 | 99.65 | -1.69 | LIN ahead |
| 2026-03-05 | 83.21 | 100.74 | -1.60 | LIN ahead |
| 2026-03-04 | 82.57 | 102.62 | -2.25 | LIN ahead |
| 2026-03-03 | 82.22 | 103.13 | -2.48 | LIN ahead |
| 2026-03-02 | 83.24 | 104.71 | -2.56 | LIN ahead |
| 2026-02-27 | 83.01 | 104.45 | -2.59 | LIN ahead |
| 2026-02-26 | 83.18 | 102.48 | -2.08 | LIN ahead |
| 2026-02-25 | 84.40 | 104.49 | -2.21 | LIN ahead |
| 2026-02-24 | 84.15 | 103.61 | -2.08 | LIN ahead |
| 2026-02-23 | 85.29 | 102.41 | -1.49 | LIN ahead |
| 2026-02-20 | 84.67 | 102.07 | -1.58 | LIN ahead |
| 2026-02-19 | 84.53 | 100.75 | -1.32 | LIN ahead |
| 2026-02-18 | 85.03 | 99.76 | -0.96 | LIN ahead |
| 2026-02-17 | 83.62 | 99.13 | -1.20 | LIN ahead |
| 2026-02-13 | 84.23 | 98.88 | -0.98 | LIN ahead |
| 2026-02-12 | 87.77 | 97.21 | +0.30 | near the usual relationship |
| 2026-02-11 | 88.27 | 96.11 | +0.66 | APD ahead |
| 2026-02-10 | 87.55 | 94.67 | +0.79 | APD ahead |
| 2026-02-09 | 86.23 | 93.81 | +0.64 | APD ahead |
| 2026-02-06 | 85.25 | 92.15 | +0.74 | APD ahead |
| 2026-02-05 | 85.37 | 94.50 | +0.23 | near the usual relationship |
| 2026-02-04 | 86.30 | 97.30 | -0.15 | near the usual relationship |
| 2026-02-03 | 83.70 | 95.30 | -0.34 | near the usual relationship |
| 2026-02-02 | 81.60 | 94.60 | -0.68 | LIN ahead |
| 2026-01-30 | 82.05 | 93.94 | -0.45 | near the usual relationship |
| 2026-01-29 | 77.09 | 93.53 | -1.47 | LIN ahead |
| 2026-01-28 | 77.05 | 92.82 | -1.34 | LIN ahead |
| 2026-01-27 | 78.02 | 93.13 | -1.18 | LIN ahead |
| 2026-01-26 | 79.08 | 93.54 | -1.03 | LIN ahead |
| 2026-01-23 | 78.70 | 92.83 | -0.99 | LIN ahead |
| 2026-01-22 | 79.51 | 91.61 | -0.61 | LIN ahead |
| 2026-01-21 | 79.23 | 90.32 | -0.44 | near the usual relationship |
| 2026-01-20 | 77.74 | 89.04 | -0.52 | LIN ahead |
| 2026-01-16 | 80.56 | 90.24 | -0.18 | near the usual relationship |
| 2026-01-15 | 80.09 | 90.46 | -0.32 | near the usual relationship |
| 2026-01-14 | 80.47 | 90.45 | -0.25 | near the usual relationship |
| 2026-01-13 | 80.15 | 91.05 | -0.42 | near the usual relationship |
| 2026-01-12 | 80.41 | 91.20 | -0.40 | near the usual relationship |
| 2026-01-09 | 79.41 | 91.29 | -0.61 | LIN ahead |
| 2026-01-08 | 78.66 | 90.39 | -0.61 | LIN ahead |
| 2026-01-07 | 78.85 | 89.25 | -0.39 | near the usual relationship |
| 2026-01-06 | 77.80 | 89.87 | -0.70 | LIN ahead |
| 2026-01-05 | 76.43 | 89.03 | -0.83 | LIN ahead |
| 2026-01-02 | 75.42 | 88.21 | -0.90 | LIN ahead |
| 2025-12-31 | 74.38 | 87.65 | -1.01 | LIN ahead |
| 2025-12-30 | 74.92 | 88.06 | -0.98 | LIN ahead |
| 2025-12-29 | 74.63 | 87.68 | -0.98 | LIN ahead |
| 2025-12-26 | 74.50 | 87.32 | -0.95 | LIN ahead |
| 2025-12-24 | 74.03 | 87.35 | -1.06 | LIN ahead |
| 2025-12-23 | 73.70 | 87.39 | -1.14 | LIN ahead |
| 2025-12-22 | 73.71 | 87.06 | -1.09 | LIN ahead |
| 2025-12-19 | 72.26 | 86.63 | -1.31 | LIN ahead |
| 2025-12-18 | 73.40 | 86.13 | -1.01 | LIN ahead |
| 2025-12-17 | 74.19 | 86.82 | -0.98 | LIN ahead |
| 2025-12-16 | 72.94 | 87.06 | -1.26 | LIN ahead |
| 2025-12-15 | 73.78 | 85.72 | -0.89 | LIN ahead |
| 2025-12-12 | 73.17 | 85.57 | -0.99 | LIN ahead |
| 2025-12-11 | 73.39 | 82.91 | -0.51 | LIN ahead |
| 2025-12-10 | 71.28 | 80.72 | -0.56 | LIN ahead |
| 2025-12-09 | 69.49 | 80.25 | -0.83 | LIN ahead |
| 2025-12-08 | 71.08 | 80.05 | -0.49 | near the usual relationship |
| 2025-12-05 | 78.50 | 82.14 | +0.50 | APD ahead |
| 2025-12-04 | 78.78 | 83.00 | +0.40 | near the usual relationship |
| 2025-12-03 | 78.40 | 84.11 | +0.15 | near the usual relationship |
| 2025-12-02 | 77.32 | 84.04 | -0.03 | near the usual relationship |
| 2025-12-01 | 78.55 | 83.70 | +0.22 | near the usual relationship |
| 2025-11-28 | 78.61 | 84.35 | +0.12 | near the usual relationship |
| 2025-11-26 | 77.98 | 83.85 | +0.08 | near the usual relationship |
| 2025-11-25 | 77.97 | 83.84 | +0.08 | near the usual relationship |
| 2025-11-24 | 77.26 | 83.81 | -0.04 | near the usual relationship |
| 2025-11-21 | 77.50 | 84.85 | -0.17 | near the usual relationship |
| 2025-11-20 | 75.61 | 83.98 | -0.36 | near the usual relationship |
| 2025-11-19 | 76.26 | 84.94 | -0.40 | near the usual relationship |
| 2025-11-18 | 75.93 | 85.25 | -0.50 | LIN ahead |
| 2025-11-17 | 76.21 | 85.90 | -0.56 | LIN ahead |
| 2025-11-14 | 78.09 | 87.04 | -0.42 | near the usual relationship |
| 2025-11-13 | 79.20 | 88.12 | -0.40 | near the usual relationship |
| 2025-11-12 | 78.76 | 88.18 | -0.49 | near the usual relationship |
| 2025-11-11 | 78.96 | 87.71 | -0.39 | near the usual relationship |
| 2025-11-10 | 77.82 | 86.48 | -0.40 | near the usual relationship |
| 2025-11-07 | 78.21 | 86.44 | -0.34 | near the usual relationship |
| 2025-11-06 | 77.93 | 85.38 | -0.23 | near the usual relationship |
| 2025-11-05 | 71.53 | 85.98 | -1.40 | LIN ahead |
| 2025-11-04 | 72.50 | 85.92 | -1.23 | LIN ahead |
| 2025-11-03 | 72.07 | 84.73 | -1.14 | LIN ahead |
| 2025-10-31 | 73.05 | 85.99 | -1.17 | LIN ahead |
| 2025-10-30 | 73.67 | 88.38 | -1.41 | LIN ahead |
| 2025-10-29 | 74.78 | 88.81 | -1.30 | LIN ahead |
| 2025-10-28 | 76.61 | 91.01 | -1.31 | LIN ahead |
| 2025-10-27 | 77.01 | 91.44 | -1.32 | LIN ahead |
| 2025-10-24 | 76.76 | 91.68 | -1.41 | LIN ahead |
| 2025-10-23 | 76.76 | 92.52 | -1.54 | LIN ahead |
| 2025-10-22 | 76.23 | 92.49 | -1.64 | LIN ahead |
| 2025-10-21 | 76.70 | 92.52 | -1.58 | LIN ahead |
| 2025-10-20 | 76.55 | 92.83 | -1.66 | LIN ahead |
| 2025-10-17 | 76.24 | 92.69 | -1.71 | LIN ahead |
| 2025-10-16 | 76.24 | 91.32 | -1.53 | LIN ahead |
| 2025-10-15 | 77.51 | 92.80 | -1.54 | LIN ahead |
| 2025-10-14 | 78.89 | 94.41 | -1.55 | LIN ahead |
| 2025-10-13 | 78.55 | 93.87 | -1.55 | LIN ahead |
| 2025-10-10 | 77.41 | 93.29 | -1.68 | LIN ahead |
| 2025-10-09 | 79.11 | 94.18 | -1.53 | LIN ahead |
| 2025-10-08 | 80.87 | 96.17 | -1.52 | LIN ahead |
| 2025-10-07 | 81.57 | 96.69 | -1.49 | LIN ahead |
| 2025-10-06 | 81.59 | 96.32 | -1.44 | LIN ahead |
| 2025-10-03 | 81.74 | 95.95 | -1.37 | LIN ahead |
| 2025-10-02 | 81.48 | 96.51 | -1.50 | LIN ahead |
| 2025-10-01 | 80.91 | 95.96 | -1.53 | LIN ahead |
| 2025-09-30 | 82.12 | 97.65 | -1.58 | LIN ahead |
| 2025-09-29 | 81.45 | 97.95 | -1.75 | LIN ahead |
| 2025-09-26 | 80.33 | 97.52 | -1.89 | LIN ahead |
| 2025-09-25 | 80.03 | 97.40 | -1.94 | LIN ahead |
| 2025-09-24 | 81.99 | 97.47 | -1.63 | LIN ahead |
| 2025-09-23 | 83.28 | 98.66 | -1.59 | LIN ahead |
| 2025-09-22 | 86.57 | 98.21 | -0.99 | LIN ahead |
| 2025-09-19 | 87.37 | 98.47 | -0.89 | LIN ahead |
| 2025-09-18 | 88.06 | 97.85 | -0.70 | LIN ahead |
| 2025-09-17 | 87.51 | 98.65 | -0.90 | LIN ahead |
| 2025-09-16 | 85.80 | 96.92 | -0.92 | LIN ahead |
| 2025-09-15 | 87.18 | 98.00 | -0.85 | LIN ahead |
| 2025-09-12 | 88.17 | 99.09 | -0.85 | LIN ahead |
| 2025-09-11 | 88.68 | 99.41 | -0.81 | LIN ahead |
| 2025-09-10 | 86.57 | 97.17 | -0.83 | LIN ahead |
| 2025-09-09 | 86.46 | 97.33 | -0.86 | LIN ahead |
| 2025-09-08 | 86.99 | 97.57 | -0.81 | LIN ahead |
| 2025-09-05 | 87.28 | 96.52 | -0.61 | LIN ahead |
| 2025-09-04 | 87.31 | 97.11 | -0.68 | LIN ahead |
| 2025-09-03 | 87.71 | 96.98 | -0.59 | LIN ahead |
| 2025-09-02 | 87.98 | 97.47 | -0.62 | LIN ahead |
| 2025-08-29 | 88.56 | 98.32 | -0.64 | LIN ahead |
| 2025-08-28 | 88.83 | 99.12 | -0.71 | LIN ahead |
| 2025-08-27 | 88.71 | 99.23 | -0.74 | LIN ahead |
| 2025-08-26 | 88.52 | 99.07 | -0.74 | LIN ahead |
| 2025-08-25 | 88.58 | 98.23 | -0.62 | LIN ahead |
| 2025-08-22 | 90.12 | 99.02 | -0.49 | near the usual relationship |
| 2025-08-21 | 88.38 | 98.82 | -0.72 | LIN ahead |
| 2025-08-20 | 88.04 | 99.16 | -0.82 | LIN ahead |
| 2025-08-19 | 87.39 | 98.66 | -0.85 | LIN ahead |
| 2025-08-18 | 86.76 | 98.37 | -0.91 | LIN ahead |
| 2025-08-15 | 87.46 | 98.69 | -0.85 | LIN ahead |
| 2025-08-14 | 87.98 | 98.19 | -0.70 | LIN ahead |
| 2025-08-13 | 88.59 | 97.78 | -0.55 | LIN ahead |
| 2025-08-12 | 87.10 | 97.28 | -0.71 | LIN ahead |
| 2025-08-11 | 85.50 | 96.70 | -0.88 | LIN ahead |
| 2025-08-08 | 86.94 | 97.12 | -0.72 | LIN ahead |
| 2025-08-07 | 86.89 | 96.50 | -0.64 | LIN ahead |
| 2025-08-06 | 87.04 | 96.92 | -0.68 | LIN ahead |
| 2025-08-05 | 88.07 | 96.59 | -0.47 | near the usual relationship |
| 2025-08-04 | 86.56 | 96.08 | -0.63 | LIN ahead |
| 2025-08-01 | 84.84 | 94.44 | -0.67 | LIN ahead |
| 2025-07-31 | 86.68 | 94.62 | -0.40 | near the usual relationship |
| 2025-07-30 | 87.36 | 95.84 | -0.46 | near the usual relationship |
| 2025-07-29 | 88.89 | 96.93 | -0.37 | near the usual relationship |
| 2025-07-28 | 89.00 | 96.10 | -0.24 | near the usual relationship |
| 2025-07-25 | 90.11 | 97.21 | -0.22 | near the usual relationship |
| 2025-07-24 | 89.50 | 96.92 | -0.26 | near the usual relationship |
| 2025-07-23 | 89.70 | 96.62 | -0.19 | near the usual relationship |
| 2025-07-22 | 89.77 | 97.03 | -0.23 | near the usual relationship |
| 2025-07-21 | 88.44 | 96.71 | -0.38 | near the usual relationship |
| 2025-07-18 | 88.92 | 95.59 | -0.15 | near the usual relationship |
| 2025-07-17 | 88.40 | 94.83 | -0.12 | near the usual relationship |
| 2025-07-16 | 87.02 | 94.49 | -0.28 | near the usual relationship |
| 2025-07-15 | 86.31 | 94.68 | -0.40 | near the usual relationship |
| 2025-07-14 | 87.56 | 96.37 | -0.44 | near the usual relationship |
| 2025-07-11 | 87.92 | 96.37 | -0.39 | near the usual relationship |
| 2025-07-10 | 88.56 | 96.69 | -0.33 | near the usual relationship |
| 2025-07-09 | 88.60 | 96.88 | -0.35 | near the usual relationship |
| 2025-07-08 | 88.03 | 96.61 | -0.39 | near the usual relationship |
| 2025-07-07 | 87.03 | 96.53 | -0.52 | LIN ahead |
| 2025-07-03 | 87.88 | 97.77 | -0.56 | LIN ahead |
| 2025-07-02 | 87.41 | 98.09 | -0.66 | LIN ahead |
| 2025-07-01 | 85.96 | 98.01 | -0.87 | LIN ahead |
| 2025-06-30 | 84.93 | 96.45 | -0.82 | LIN ahead |
| 2025-06-27 | 85.02 | 95.34 | -0.65 | LIN ahead |
| 2025-06-26 | 85.22 | 95.48 | -0.64 | LIN ahead |
| 2025-06-25 | 84.91 | 94.60 | -0.57 | LIN ahead |
| 2025-06-24 | 84.61 | 95.21 | -0.70 | LIN ahead |
| 2025-06-23 | 82.26 | 94.51 | -0.97 | LIN ahead |
| 2025-06-20 | 81.45 | 93.71 | -0.99 | LIN ahead |
| 2025-06-18 | 82.92 | 94.30 | -0.85 | LIN ahead |
| 2025-06-17 | 83.42 | 94.75 | -0.83 | LIN ahead |
| 2025-06-16 | 84.44 | 95.92 | -0.84 | LIN ahead |
| 2025-06-13 | 84.42 | 95.79 | -0.83 | LIN ahead |
| 2025-06-12 | 85.30 | 96.73 | -0.83 | LIN ahead |
| 2025-06-11 | 84.98 | 96.32 | -0.83 | LIN ahead |
| 2025-06-10 | 84.88 | 97.76 | -1.04 | LIN ahead |
| 2025-06-09 | 84.29 | 97.06 | -1.04 | LIN ahead |
| 2025-06-06 | 84.25 | 97.18 | -1.07 | LIN ahead |
| 2025-06-05 | 83.17 | 96.67 | -1.17 | LIN ahead |
| 2025-06-04 | 84.38 | 97.39 | -1.09 | LIN ahead |
| 2025-06-03 | 85.30 | 96.99 | -0.89 | LIN ahead |
| 2025-06-02 | 83.92 | 95.50 | -0.90 | LIN ahead |
| 2025-05-30 | 83.98 | 96.12 | -0.98 | LIN ahead |
| 2025-05-29 | 82.26 | 95.40 | -1.16 | LIN ahead |
| 2025-05-28 | 81.83 | 95.08 | -1.19 | LIN ahead |
| 2025-05-27 | 82.67 | 96.20 | -1.21 | LIN ahead |
| 2025-05-23 | 81.25 | 94.34 | -1.18 | LIN ahead |
| 2025-05-22 | 81.07 | 94.36 | -1.22 | LIN ahead |
| 2025-05-21 | 81.20 | 93.64 | -1.10 | LIN ahead |
| 2025-05-20 | 83.01 | 94.53 | -0.94 | LIN ahead |
| 2025-05-19 | 83.51 | 94.63 | -0.87 | LIN ahead |
| 2025-05-16 | 83.99 | 94.10 | -0.71 | LIN ahead |
| 2025-05-15 | 82.63 | 93.37 | -0.82 | LIN ahead |
| 2025-05-14 | 81.75 | 91.68 | -0.72 | LIN ahead |
| 2025-05-13 | 82.40 | 92.64 | -0.75 | LIN ahead |
| 2025-05-12 | 83.17 | 93.42 | -0.73 | LIN ahead |
| 2025-05-09 | 81.64 | 93.05 | -0.91 | LIN ahead |
| 2025-05-08 | 81.19 | 93.17 | -1.00 | LIN ahead |
| 2025-05-07 | 79.68 | 92.44 | -1.14 | LIN ahead |
| 2025-05-06 | 80.58 | 91.90 | -0.91 | LIN ahead |
| 2025-05-05 | 81.97 | 93.02 | -0.84 | LIN ahead |
| 2025-05-02 | 83.60 | 93.52 | -0.64 | LIN ahead |
| 2025-05-01 | 81.95 | 92.11 | -0.69 | LIN ahead |
| 2025-04-30 | 81.63 | 93.17 | -0.87 | LIN ahead |
| 2025-04-29 | 81.58 | 92.63 | -0.79 | LIN ahead |
| 2025-04-28 | 81.14 | 92.10 | -0.77 | LIN ahead |
| 2025-04-25 | 80.43 | 92.18 | -0.87 | LIN ahead |
| 2025-04-24 | 80.95 | 92.41 | -0.81 | LIN ahead |
| 2025-04-23 | 79.72 | 92.14 | -0.94 | LIN ahead |
| 2025-04-22 | 79.90 | 93.45 | -1.07 | LIN ahead |
| 2025-04-21 | 77.56 | 91.24 | -1.12 | LIN ahead |
| 2025-04-17 | 79.16 | 92.94 | -1.08 | LIN ahead |
| 2025-04-16 | 78.69 | 92.09 | -1.03 | LIN ahead |
| 2025-04-15 | 79.89 | 92.71 | -0.92 | LIN ahead |
| 2025-04-14 | 82.08 | 91.69 | -0.47 | near the usual relationship |
| 2025-04-11 | 81.00 | 90.83 | -0.50 | LIN ahead |
| 2025-04-10 | 78.90 | 88.78 | -0.53 | LIN ahead |
| 2025-04-09 | 81.36 | 91.68 | -0.54 | LIN ahead |
| 2025-04-08 | 74.86 | 84.97 | -0.60 | LIN ahead |
| 2025-04-07 | 78.02 | 87.54 | -0.47 | near the usual relationship |
| 2025-04-04 | 79.33 | 90.03 | -0.58 | LIN ahead |
| 2025-04-03 | 85.28 | 96.05 | -0.49 | near the usual relationship |
| 2025-04-02 | 88.82 | 96.56 | -0.11 | near the usual relationship |
| 2025-04-01 | 88.36 | 96.02 | -0.09 | near the usual relationship |
| 2025-03-31 | 88.80 | 95.72 | +0.00 | near the usual relationship |
| 2025-03-28 | 88.01 | 94.38 | +0.06 | near the usual relationship |
| 2025-03-27 | 88.86 | 95.53 | +0.04 | near the usual relationship |
| 2025-03-26 | 88.91 | 94.86 | +0.13 | near the usual relationship |
| 2025-03-25 | 88.27 | 94.04 | +0.15 | near the usual relationship |
| 2025-03-24 | 88.36 | 94.38 | +0.13 | near the usual relationship |
| 2025-03-21 | 87.82 | 94.22 | +0.09 | near the usual relationship |
| 2025-03-20 | 88.20 | 94.10 | +0.16 | near the usual relationship |
| 2025-03-19 | 88.53 | 94.51 | +0.16 | near the usual relationship |
| 2025-03-18 | 87.87 | 94.71 | +0.07 | near the usual relationship |
| 2025-03-17 | 89.02 | 94.63 | +0.21 | near the usual relationship |
| 2025-03-14 | 87.90 | 93.64 | +0.20 | near the usual relationship |
| 2025-03-13 | 88.18 | 93.18 | +0.28 | near the usual relationship |
| 2025-03-12 | 88.72 | 92.75 | +0.39 | near the usual relationship |
| 2025-03-11 | 89.76 | 93.34 | +0.44 | near the usual relationship |
| 2025-03-10 | 91.45 | 94.99 | +0.46 | near the usual relationship |
| 2025-03-07 | 95.28 | 96.37 | +0.71 | APD ahead |
| 2025-03-06 | 93.63 | 95.83 | +0.61 | APD ahead |
| 2025-03-05 | 93.82 | 96.26 | +0.59 | APD ahead |
| 2025-03-04 | 91.95 | 94.84 | +0.55 | APD ahead |
| 2025-03-03 | 93.54 | 95.03 | +0.69 | APD ahead |
| 2025-02-28 | 95.20 | 96.01 | +0.76 | APD ahead |
| 2025-02-27 | 94.07 | 94.62 | +0.79 | APD ahead |
| 2025-02-26 | 94.50 | 94.88 | +0.82 | APD ahead |
| 2025-02-25 | 95.56 | 96.10 | +0.81 | APD ahead |
| 2025-02-24 | 93.16 | 94.26 | +0.76 | APD ahead |
| 2025-02-21 | 93.31 | 94.15 | +0.79 | APD ahead |
| 2025-02-20 | 94.63 | 94.95 | +0.85 | APD ahead |
| 2025-02-19 | 95.47 | 94.99 | +0.93 | APD ahead |
| 2025-02-18 | 95.45 | 95.76 | +0.86 | APD ahead |
| 2025-02-14 | 95.19 | 93.95 | +1.01 | APD ahead |
| 2025-02-13 | 94.90 | 94.78 | +0.92 | APD ahead |
| 2025-02-12 | 93.45 | 94.27 | +0.84 | APD ahead |
| 2025-02-11 | 93.19 | 94.71 | +0.78 | APD ahead |
| 2025-02-10 | 93.51 | 94.74 | +0.81 | APD ahead |
| 2025-02-07 | 93.48 | 93.55 | +0.93 | APD ahead |
| 2025-02-06 | 98.80 | 94.70 | +1.31 | APD ahead |
| 2025-02-05 | 100.32 | 93.27 | +1.58 | APD ahead |
| 2025-02-04 | 101.07 | 93.49 | +1.64 | APD ahead |
| 2025-02-03 | 101.80 | 93.37 | +1.73 | APD ahead |
| 2025-01-31 | 100.95 | 91.71 | +1.83 | APD ahead |
| 2025-01-30 | 100.90 | 91.76 | +1.84 | APD ahead |
| 2025-01-29 | 98.56 | 90.11 | +1.81 | APD ahead |
| 2025-01-28 | 98.46 | 89.53 | +1.87 | APD ahead |
| 2025-01-27 | 98.35 | 90.35 | +1.80 | APD ahead |
| 2025-01-24 | 99.14 | 90.30 | +1.89 | APD ahead |
| 2025-01-23 | 97.56 | 90.62 | +1.73 | APD ahead |
| 2025-01-22 | 95.45 | 90.99 | +1.50 | APD ahead |
| 2025-01-21 | 96.28 | 90.96 | +1.60 | APD ahead |
| 2025-01-17 | 95.69 | 89.63 | +1.69 | APD ahead |
| 2025-01-16 | 93.97 | 88.91 | +1.61 | APD ahead |
| 2025-01-15 | 92.41 | 87.98 | +1.56 | APD ahead |
| 2025-01-14 | 92.73 | 87.84 | +1.62 | APD ahead |
| 2025-01-13 | 90.86 | 86.63 | +1.56 | APD ahead |
| 2025-01-10 | 88.25 | 85.14 | +1.46 | APD ahead |
| 2025-01-08 | 85.89 | 86.34 | +1.07 | APD ahead |
| 2025-01-07 | 86.22 | 85.30 | +1.23 | APD ahead |
| 2025-01-06 | 85.29 | 84.88 | +1.17 | APD ahead |
| 2025-01-03 | 85.49 | 85.00 | +1.19 | APD ahead |
| 2025-01-02 | 85.30 | 85.14 | +1.15 | APD ahead |
| 2024-12-31 | 87.34 | 86.07 | +1.28 | APD ahead |
| 2024-12-30 | 86.93 | 85.86 | +1.26 | APD ahead |
| 2024-12-27 | 88.17 | 86.95 | +1.27 | APD ahead |
| 2024-12-26 | 88.85 | 87.23 | +1.32 | APD ahead |
| 2024-12-24 | 89.14 | 87.53 | +1.32 | APD ahead |
| 2024-12-23 | 88.39 | 86.82 | +1.33 | APD ahead |
| 2024-12-20 | 88.83 | 87.23 | +1.33 | APD ahead |
| 2024-12-19 | 88.28 | 86.26 | +1.39 | APD ahead |
| 2024-12-18 | 88.92 | 86.81 | +1.40 | APD ahead |
| 2024-12-17 | 91.75 | 88.44 | +1.53 | APD ahead |
| 2024-12-16 | 92.36 | 88.05 | +1.65 | APD ahead |
| 2024-12-13 | 94.04 | 89.49 | +1.67 | APD ahead |
| 2024-12-12 | 93.61 | 90.14 | +1.57 | APD ahead |
| 2024-12-11 | 94.06 | 90.56 | +1.58 | APD ahead |
| 2024-12-10 | 94.91 | 91.44 | +1.58 | APD ahead |
| 2024-12-09 | 95.34 | 90.98 | +1.69 | APD ahead |
| 2024-12-06 | 96.39 | 92.39 | +1.65 | APD ahead |
| 2024-12-05 | 96.95 | 92.22 | +1.74 | APD ahead |
| 2024-12-04 | 98.61 | 94.45 | +1.68 | APD ahead |
| 2024-12-03 | 99.56 | 94.18 | +1.82 | APD ahead |
| 2024-12-02 | 101.06 | 94.50 | +1.95 | APD ahead |
| 2024-11-29 | 100.67 | 94.77 | +1.90 | APD ahead |
| 2024-11-27 | 100.34 | 93.97 | +1.97 | APD ahead |
| 2024-11-26 | 100.81 | 93.86 | +2.05 | APD ahead |
| 2024-11-25 | 100.56 | 93.68 | +2.06 | APD ahead |
| 2024-11-22 | 99.92 | 93.49 | +2.03 | APD ahead |
| 2024-11-21 | 99.03 | 93.55 | +1.94 | APD ahead |
| 2024-11-20 | 98.72 | 92.54 | +2.04 | APD ahead |
| 2024-11-19 | 98.77 | 91.29 | +2.21 | APD ahead |
| 2024-11-18 | 98.73 | 92.21 | +2.12 | APD ahead |
| 2024-11-15 | 95.48 | 92.32 | +1.75 | APD ahead |
| 2024-11-14 | 95.12 | 93.22 | +1.61 | APD ahead |
| 2024-11-13 | 94.22 | 93.79 | +1.45 | APD ahead |
| 2024-11-12 | 93.68 | 93.66 | +1.40 | APD ahead |
| 2024-11-11 | 94.52 | 93.83 | +1.48 | APD ahead |
| 2024-11-08 | 94.25 | 94.46 | +1.38 | APD ahead |
| 2024-11-07 | 94.19 | 95.69 | +1.24 | APD ahead |
| 2024-11-06 | 92.36 | 95.10 | +1.08 | APD ahead |
| 2024-11-05 | 92.25 | 93.51 | +1.23 | APD ahead |
| 2024-11-04 | 92.17 | 94.22 | +1.13 | APD ahead |
| 2024-11-01 | 93.11 | 94.01 | +1.25 | APD ahead |
| 2024-10-31 | 93.50 | 93.77 | +1.31 | APD ahead |
| 2024-10-30 | 94.18 | 97.32 | +0.98 | APD ahead |
| 2024-10-29 | 94.94 | 97.58 | +1.03 | APD ahead |
| 2024-10-28 | 95.83 | 97.85 | +1.08 | APD ahead |
| 2024-10-25 | 95.76 | 97.39 | +1.11 | APD ahead |
| 2024-10-24 | 96.99 | 97.54 | +1.21 | APD ahead |
| 2024-10-23 | 98.35 | 98.15 | +1.27 | APD ahead |
| 2024-10-22 | 99.48 | 99.07 | +1.28 | APD ahead |
| 2024-10-21 | 99.84 | 99.36 | +1.27 | APD ahead |
| 2024-10-18 | 100.00 | 100.00 | +1.21 | APD ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Nov 6, 2025 (APD +8.9%, LIN -0.7%); Dec 8, 2025 (APD -9.4%, LIN -2.5%); Jan 30, 2026 (APD +6.4%, LIN +0.4%); Feb 13, 2026 (APD -4.0%, LIN +1.7%); Jun 30, 2026 (APD +8.0%, LIN +1.5%). Upcoming earnings: LIN Oct 29, 2026 (pre-market); APD Nov 5, 2026 (pre-market).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
1 simulated trade to Oct 20, 2026: +10.82% per trade on average after costs, 1 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long APD · Short LIN | Mar 3, 2026 | May 5, 2026 | converged | 63 | $1,105.04 | -$43.24 | $1,081.70 (+10.82%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
APD and LIN at a glance
APD Air Products and Chemicals Inc.
- Listing
- NYSE · SEC CIK 2969
- Industry
- Major Chemicals · SIC 2810 Industrial Inorganic Chemicals
- Market value
- $66.5B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
LIN Linde plc
- Listing
- Nasdaq · SEC CIK 1707925
- Industry
- Major Chemicals · SIC 2810 Industrial Inorganic Chemicals
- Market value
- $232.1B
- Price history
- 915 daily closes, Mar 2, 2023 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of APD and LIN
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Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
