ERIE vs OMEX: Correlation
How closely do Erie Indemnity (ERIE) and Odyssey Marine Exploration, Inc. (OMEX) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and OMEX?
Over the past 3 years, ERIE and OMEX moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.18). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -834.5 %².
Among the 33 assets we track against ERIE, OMEX ranks #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ERIE ahead by 28.5 points (-24.5% versus -53.0%). Risk is not evenly split, since OMEX carries 5.0 times the volatility of the other side.
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.
ERIE vs OMEX: side by side
| ERIE (Erie Indemnity) | OMEX (Odyssey Marine Exploration, Inc.) | |
|---|---|---|
| 1-year return | -24.5% | -53.0% |
| 5-year return | +61.3% | -83.6% |
| Volatility (ann.) | 30.3% | 152.5% |
| Beta vs S&P 500 | 0.37 | 2.12 |
| Max drawdown (3Y) | -60.9% | -94.6% |
| Market cap | $13.6B | $0.1B |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 2.24% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ERIE | OMEX |
|---|---|---|
| 2022 | +32.0% | -25.4% |
| 2023 | +37.3% | +19.8% |
| 2024 | +24.7% | -84.5% |
| 2025 | -29.4% | +172.2% |
| 2026 | -8.0% | -54.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and OMEX good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between ERIE and OMEX?
The ERIE/OMEX correlation stands at -0.18 on a 3-year window (1 year: -0.05, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is OMEX a good diversifier for ERIE?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/erie-vs-omex.json
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Related comparisons
Hubs: ERIE correlations · OMEX correlations
