SLB vs XOM: Correlation
Schlumberger (SLB) and ExxonMobil (XOM) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLB and XOM?
Over the past 3 years, SLB and XOM moved with a correlation of 0.70, which is strong. The link has loosened recently: the 1-year correlation (0.55) runs below the 3-year figure (0.70). Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 600.4 %².
Among the 35 assets we track against SLB, XOM ranks #12 by 3-year correlation. Over the last 12 months SLB came out ahead by 14.3 percentage points (+57.1% against +42.8%). The rolling one-year correlation moved between 0.54 and 0.88 over the past three years, a moderate range.
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.
SLB vs XOM: side by side
| SLB (Schlumberger) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | +57.1% | +42.8% |
| 5-year return | +117.1% | +237.9% |
| Volatility (ann.) | 35.1% | 24.3% |
| Beta vs S&P 500 | 0.57 | 0.01 |
| Max drawdown (3Y) | -46.6% | -20.1% |
| Market cap | $81.6B | $643.3B |
| P/E (trailing) | 26.2 | 20.1 |
| Dividend yield | 2.16% | 2.58% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | SLB | XOM |
|---|---|---|
| 2022 | +81.2% | +87.4% |
| 2023 | -0.8% | -6.3% |
| 2024 | -24.5% | +11.3% |
| 2025 | +3.3% | +16.0% |
| 2026 | +44.9% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLB and XOM good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SLB and XOM?
As of 2026-08-27, the correlation of weekly returns between SLB and XOM is 0.70 over 3 years, 0.55 over 1 year and 0.74 over 5 years.
Is XOM a good diversifier for SLB?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/slb-vs-xom.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/slb-vs-xom/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SLB correlations · XOM correlations
