CNX vs OMEX: Correlation
CNX Resources Corporation (CNX) and Odyssey Marine Exploration, Inc. (OMEX) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNX and OMEX?
On 3 years of weekly data the CNX/OMEX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.16, and annualized covariance runs at -967.6 %².
Among the 12 assets we track against CNX, OMEX sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with CNX ahead by 77.2 points (+24.2% versus -53.0%). Note the risk asymmetry: OMEX runs 5.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CNX vs OMEX: side by side
| CNX (CNX Resources Corporation) | OMEX (Odyssey Marine Exploration, Inc.) | |
|---|---|---|
| 1-year return | +24.2% | -53.0% |
| 5-year return | +229.8% | -83.6% |
| Volatility (ann.) | 29.6% | 152.5% |
| Beta vs S&P 500 | 0.41 | 2.12 |
| Max drawdown (3Y) | -33.4% | -94.6% |
| Market cap | $5.3B | $0.1B |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNX | OMEX |
|---|---|---|
| 2022 | +22.5% | -25.4% |
| 2023 | +18.8% | +19.8% |
| 2024 | +83.3% | -84.5% |
| 2025 | +0.3% | +172.2% |
| 2026 | -1.8% | -54.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNX and OMEX good diversifiers for each other?
Yes. With a correlation of -0.21, CNX and OMEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNX and OMEX?
As of 2026-08-27, the correlation of weekly returns between CNX and OMEX is -0.21 over 3 years, -0.22 over 1 year and -0.16 over 5 years.
Is OMEX a good diversifier for CNX?
Yes. With a correlation of -0.21, CNX and OMEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnx-vs-omex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnx-vs-omex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNX correlations · OMEX correlations
