Exxon Correlations
| XOM Stock | ARS 22,360 190.00 0.84% |
The current 90-days correlation between Exxon Mobil and Chevron Corp CEDEAR is 0.62 (i.e., Poor diversification). The correlation of Exxon is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Exxon Correlation With Market
Poor diversification
The correlation between Exxon Mobil and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exxon Mobil and DJI in the same portfolio, assuming nothing else is changed.
Exxon |
The ability to find closely correlated positions to Exxon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Exxon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Exxon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Exxon Mobil to buy it.
Moving together with Exxon Stock
| 0.74 | CVX | Chevron Corp CEDEAR | PairCorr |
| 0.93 | PBR | Petrleo Brasileiro | PairCorr |
| 0.95 | VALE | Vale SA | PairCorr |
| 0.94 | RIO | Rio Tinto PLC | PairCorr |
| 0.61 | LYG | Lloyds Banking Group | PairCorr |
| 0.82 | NEM | Newmont | PairCorr |
| 0.87 | GFI | Gold Fields | PairCorr |
| 0.89 | MO | Altria Group | PairCorr |
| 0.82 | PG | Procter Gamble DRC | PairCorr |
| 0.95 | LMT | Lockheed Martin Corp | PairCorr |
| 0.64 | BYMA | Bolsas y Mercados | PairCorr |
| 0.75 | VIST | Vista Energy SAB | PairCorr |
| 0.96 | ABEV | Ambev SA | PairCorr |
| 0.84 | KO | Coca Cola | PairCorr |
| 0.88 | MRK | Merck Company | PairCorr |
| 0.8 | VISTD | Vista Energy SAB | PairCorr |
| 0.61 | AKO-B | Embotelladora Andina | PairCorr |
| 0.79 | AMGN | Amgen Inc | PairCorr |
| 0.97 | EDSH | Edesa Holding SA Earnings Call This Week | PairCorr |
| 0.7 | ADGO | Adecoagro SA | PairCorr |
Moving against Exxon Stock
| 0.66 | AAPL | Apple Inc DRC | PairCorr |
| 0.59 | CVH | Cablevision Holding | PairCorr |
| 0.54 | GGAL | Grupo Financiero Galicia Earnings Call Tomorrow | PairCorr |
| 0.51 | SUPV | Grupo Supervielle | PairCorr |
| 0.69 | HAVA | Havanna Holding SA | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Exxon without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Global Correlations Now
Global CorrelationsFind global opportunities by holding instruments from different markets |
| All Next | Launch Module |