EOG vs XOM: Correlation
How closely do EOG Resources (EOG) and ExxonMobil (XOM) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and XOM?
Across a 3-year window, the weekly returns of EOG and XOM correlate at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 548.0 %².
Among the 40 assets we track against EOG, XOM ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XOM outperformed by 21.1 percentage points (+21.7% for EOG against +42.8% for XOM). Stability stands out here, with the rolling one-year correlation confined to 0.72 through 0.87.
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.
EOG vs XOM: side by side
| EOG (EOG Resources) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | +21.7% | +42.8% |
| 5-year return | +171.5% | +237.9% |
| Volatility (ann.) | 28.1% | 24.3% |
| Beta vs S&P 500 | 0.14 | 0.01 |
| Max drawdown (3Y) | -23.7% | -20.1% |
| Market cap | $75.8B | $643.3B |
| P/E (trailing) | 11.3 | 20.1 |
| Dividend yield | 2.82% | 2.58% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EOG | XOM |
|---|---|---|
| 2022 | +56.9% | +87.4% |
| 2023 | -2.0% | -6.3% |
| 2024 | +4.3% | +11.3% |
| 2025 | -11.4% | +16.0% |
| 2026 | +41.0% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and XOM good diversifiers for each other?
No. With a correlation of 0.80, EOG and XOM move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EOG and XOM?
The EOG/XOM correlation stands at 0.80 on a 3-year window (1 year: 0.77, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is XOM a good diversifier for EOG?
No. With a correlation of 0.80, EOG and XOM move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: EOG correlations · XOM correlations
