SCLX vs XOM: Correlation
How closely do Scilex Holding Company (SCLX) and ExxonMobil (XOM) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCLX and XOM?
Across a 3-year window, the weekly returns of SCLX and XOM correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -732.3 %².
Among the 10 assets we track against SCLX, XOM sits near the bottom by co-movement, at rank #9. The last year tells two different stories: XOM led by 93.2 percentage points, -50.4% for SCLX against +42.8% for XOM. Note the risk asymmetry: SCLX runs 5.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SCLX vs XOM: side by side
| SCLX (Scilex Holding Company) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | -50.4% | +42.8% |
| 5-year return | -97.4% | +237.9% |
| Volatility (ann.) | 125.7% | 24.3% |
| Beta vs S&P 500 | 1.06 | 0.01 |
| Max drawdown (3Y) | -96.4% | -20.1% |
| Market cap | – | $643.3B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 0.00% | 2.58% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | SCLX | XOM |
|---|---|---|
| 2022 | -60.3% | +87.4% |
| 2023 | -48.9% | -6.3% |
| 2024 | -79.1% | +11.3% |
| 2025 | -18.2% | +16.0% |
| 2026 | -26.7% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCLX and XOM good diversifiers for each other?
Yes. With a correlation of -0.24, SCLX and XOM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SCLX and XOM?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.30 over the last year and -0.08 over 5 years.
Is XOM a good diversifier for SCLX?
Yes. With a correlation of -0.24, SCLX and XOM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
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Hubs: SCLX correlations · XOM correlations
