MUR vs OXY: Correlation
How closely do Murphy Oil Corporation (MUR) and Occidental Petroleum (OXY) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MUR and OXY?
Across a 3-year window, the weekly returns of MUR and OXY correlate at 0.78, strong. The link has loosened recently: the 1-year correlation (0.66) runs below the 3-year figure (0.78). Stretching to 5 years gives 0.72, with an annualized covariance of 942.7 %².
Within MUR's tracked universe of 16 assets, OXY comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MUR ahead by 22.8 points (+51.7% 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.
MUR vs OXY: side by side
| MUR (Murphy Oil Corporation) | OXY (Occidental Petroleum) | |
|---|---|---|
| 1-year return | +51.7% | +28.9% |
| 5-year return | +96.7% | +150.8% |
| Volatility (ann.) | 39.7% | 30.6% |
| Beta vs S&P 500 | 0.16 | 0.13 |
| Max drawdown (3Y) | -58.5% | -46.9% |
| Market cap | $5.2B | $59.1B |
| P/E (trailing) | 17.2 | 17.3 |
| Dividend yield | 3.89% | 1.71% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | MUR | OXY |
|---|---|---|
| 2022 | +68.5% | +119.1% |
| 2023 | +2.0% | -4.1% |
| 2024 | -26.8% | -15.9% |
| 2025 | +8.7% | -14.9% |
| 2026 | +18.5% | +45.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MUR and OXY good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MUR and OXY?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.66 over the last year and 0.72 over 5 years.
Is OXY a good diversifier for MUR?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
A reading of 0.78 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/mur-vs-oxy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mur-vs-oxy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MUR correlations · OXY correlations
