MEOH vs OXY: Correlation
Measured on weekly returns over the past three years, Methanex Corporation (MEOH) and Occidental Petroleum (OXY) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEOH and OXY?
On 3 years of weekly data the MEOH/OXY correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 676.4 %².
Few assets follow MEOH as closely as OXY, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with MEOH ahead by 38.2 points (+67.1% versus +28.9%).
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.
MEOH vs OXY: side by side
| MEOH (Methanex Corporation) | OXY (Occidental Petroleum) | |
|---|---|---|
| 1-year return | +67.1% | +28.9% |
| 5-year return | +74.8% | +150.8% |
| Volatility (ann.) | 40.4% | 30.6% |
| Beta vs S&P 500 | 0.54 | 0.13 |
| Max drawdown (3Y) | -52.2% | -46.9% |
| Market cap | $4.5B | $59.1B |
| P/E (trailing) | 66.3 | 17.3 |
| Dividend yield | 1.30% | 1.71% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | MEOH | OXY |
|---|---|---|
| 2022 | -2.8% | +119.1% |
| 2023 | +27.3% | -4.1% |
| 2024 | +7.3% | -15.9% |
| 2025 | -18.9% | -14.9% |
| 2026 | +47.9% | +45.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEOH and OXY good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MEOH and OXY?
The MEOH/OXY correlation stands at 0.55 on a 3-year window (1 year: 0.58, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is OXY a good diversifier for MEOH?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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/meoh-vs-oxy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/meoh-vs-oxy/)
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Related comparisons
Hubs: MEOH correlations · OXY correlations
