OXY vs VKI: Correlation
Measured on weekly returns over the past three years, Occidental Petroleum (OXY) and Invesco Advantage Municipal Income Trust II (VKI) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OXY and VKI?
Across a 3-year window, the weekly returns of OXY and VKI correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.24). Stretching to 5 years gives -0.02, with an annualized covariance of -102.9 %².
VKI is close to the least connected end of OXY's tracked universe, ranking #35 of 38. On 12-month performance OXY holds a 13.2-point edge, +28.9% against +15.7%. Risk is not evenly split, since OXY carries 2.2 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.
OXY vs VKI: side by side
| OXY (Occidental Petroleum) | VKI (Invesco Advantage Municipal Income Trust II) | |
|---|---|---|
| 1-year return | +28.9% | +15.7% |
| 5-year return | +150.8% | -5.1% |
| Volatility (ann.) | 30.6% | 13.9% |
| Beta vs S&P 500 | 0.13 | 0.32 |
| Max drawdown (3Y) | -46.9% | -12.4% |
| Market cap | $59.1B | $0.4B |
| P/E (trailing) | 17.3 | 35.6 |
| Dividend yield | 1.71% | 7.50% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | OXY | VKI |
|---|---|---|
| 2022 | +119.1% | -25.5% |
| 2023 | -4.1% | +3.1% |
| 2024 | -15.9% | +10.2% |
| 2025 | -14.9% | +12.8% |
| 2026 | +45.2% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OXY and VKI good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OXY and VKI?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.49 over the last year and -0.02 over 5 years.
Is VKI a good diversifier for OXY?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oxy-vs-vki.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oxy-vs-vki/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OXY correlations · VKI correlations
