Correlation Analysis
American Tower Corporation vs Exxon Mobil Corporation
AMT vs XOM
-0.804
Strong inverse
When one moves up, the other tends to move down.
American Tower Corporation
↗AMT
American Tower owns and operates about 150,000 wireless towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 30 data centers in 11 US markets after acquiring CoreSite. The company's customer base in the tower business is very concentrated, with most revenue in each market generated by the top three or four mobile carriers. The company operates more than 40,000 towers in the US, which accounted for about half of total revenue in 2025. Outside the US, American Tower operates about 47,000 towers in Latin America (dominated by Brazil), 33,000 towers in Europe, and 28,000 towers in Africa. American Tower operates as a REIT.
Market cap 82.1B · 4,866 employees
Exxon Mobil Corporation
↗XOM
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil worldwide. In 2025, it produced 3.3 million barrels of liquids and 8.4 billion cubic feet of natural gas per day. At the end of 2024, reserves were 19.9 billion barrels of oil equivalent, 69% of which were liquids. The company is one of the world's largest refiners, with a total global refining capacity of 4.3 million barrels of oil per day, and is one of the world's largest manufacturers of commodity and specialty chemicals.
Market cap 680.7B
Time Series
Relative Performance
Who Moves First
XOM leads AMT by 6 days
XOM tends to move before AMT.
After testing 13 timing shifts, the strongest relationship was -0.810 (they moved in opposite directions).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-0.320
9 periods · Return correlation when both series rose
Both Falling
+0.622
8 periods · Return correlation when both series fell
Diverging
-0.755
18 periods · Return correlation when series moved apart
R-Squared
64.6%
Share of variance in one series explained by the other.
Trend Agreement
51.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,254
Deep shared window — 1,254 usable pairs.
Significance
p < 0.001
95% CI: [-0.823, -0.783]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points survived the daily window.
Raw input
1,254
1,254
Normalized
1,254
1,254
Prepared
1,254
1,254
Aligned
1,254
1,254
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
American Tower Corporation
AMT
Market cap 82.1B · 4,866 employees
Stock · 1,254 raw → 1,254 prepared
Series B
Exxon Mobil Corporation
XOM
Market cap 680.7B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
17
Estimated crossover points between normalized spreads.
Slope
-0.5343
Linear regression slope.
Intercept
217.5749
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
AMT
American Tower Corporation
Highest
-0.086
Johnson & Johnson
JNJ · 1,254 data points
Lowest
-0.660
Eli Lilly & Co.
LLY · 1,254 data points
Saved 6 hours ago · ID: stock-amt-vs-stock-xom-daily