OVV vs XOM: Correlation
Ovintiv Inc. (DE) (OVV) and ExxonMobil (XOM) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVV and XOM?
Across a 3-year window, the weekly returns of OVV and XOM correlate at 0.76, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 668.7 %².
Within OVV's tracked universe of 44 assets, XOM comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OVV ahead by 18.4 points (+61.2% versus +42.8%).
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.
OVV vs XOM: side by side
| OVV (Ovintiv Inc. (DE)) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | +61.2% | +42.8% |
| 5-year return | +175.7% | +237.9% |
| Volatility (ann.) | 36.4% | 24.3% |
| Beta vs S&P 500 | 0.43 | 0.01 |
| Max drawdown (3Y) | -42.2% | -20.1% |
| Market cap | $18.0B | $643.3B |
| P/E (trailing) | 18.0 | 20.1 |
| Dividend yield | 1.86% | 2.58% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | OVV | XOM |
|---|---|---|
| 2022 | +53.3% | +87.4% |
| 2023 | -10.9% | -6.3% |
| 2024 | -5.2% | +11.3% |
| 2025 | -0.3% | +16.0% |
| 2026 | +68.1% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVV and XOM good diversifiers for each other?
Only partially. A correlation of 0.76 means OVV and XOM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between OVV and XOM?
The OVV/XOM correlation stands at 0.76 on a 3-year window (1 year: 0.74, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is XOM a good diversifier for OVV?
Only partially. A correlation of 0.76 means OVV and XOM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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/ovv-vs-xom.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ovv-vs-xom/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OVV correlations · XOM correlations
