VKI vs XOM: Correlation
How closely do Invesco Advantage Municipal Income Trust II (VKI) and ExxonMobil (XOM) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VKI and XOM?
Over the past 3 years, VKI and XOM moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -76.4 %².
Within VKI's tracked universe of 17 assets, XOM comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XOM ahead by 27.1 points (+15.7% versus +42.8%). Risk is not evenly split, since XOM carries 1.7 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.
VKI vs XOM: side by side
| VKI (Invesco Advantage Municipal Income Trust II) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | +15.7% | +42.8% |
| 5-year return | -5.1% | +237.9% |
| Volatility (ann.) | 13.9% | 24.3% |
| Beta vs S&P 500 | 0.32 | 0.01 |
| Max drawdown (3Y) | -12.4% | -20.1% |
| Market cap | $0.4B | $643.3B |
| P/E (trailing) | 35.6 | 20.1 |
| Dividend yield | 7.50% | 2.58% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | VKI | XOM |
|---|---|---|
| 2022 | -25.5% | +87.4% |
| 2023 | +3.1% | -6.3% |
| 2024 | +10.2% | +11.3% |
| 2025 | +12.8% | +16.0% |
| 2026 | +2.5% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VKI and XOM good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between VKI and XOM?
The VKI/XOM correlation stands at -0.23 on a 3-year window (1 year: -0.52, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is XOM a good diversifier for VKI?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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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Related comparisons
Hubs: VKI correlations · XOM correlations
