Correlation Analysis
ConocoPhillips vs Exxon Mobil Corporation
COP vs XOM
+0.774
Strong positive
When one moves up, the other tends to follow.
ConocoPhillips
↗COP
ConocoPhillips is a US-based independent exploration and production firm. Its operations are primarily in Alaska and the Lower 48, with footprints in Canada, Europe, Asia-Pacific, the Middle East, and Africa. It also has substantial integrated LNG production and marketing activities across geographies.
Market cap 160.4B
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
in sync
COP and XOM tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.774 (they moved in the same direction).
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
+0.720
15 periods · Return correlation when both series rose
Both Falling
+0.216
14 periods · Return correlation when both series fell
Diverging
-0.410
6 periods · Return correlation when series moved apart
R-Squared
59.9%
Share of variance in one series explained by the other.
Trend Agreement
82.1%
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: [0.751, 0.795]
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
ConocoPhillips
COP
Market cap 160.4B
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
16
Estimated crossover points between normalized spreads.
Slope
0.8930
Linear regression slope.
Intercept
12.6670
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-cop-vs-stock-xom-daily