Correlation Analysis
Marsh vs Exxon Mobil Corporation
MRSH vs XOM
-0.597
Moderate inverse
When one moves up, the other tends to move down.
Marsh
↗MRSH
Marsh McLennan is a professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting. In risk and insurance services, the firm offers services via Marsh (an insurance broker) and Guy Carpenter (a risk and reinsurance specialist). The consulting division comprises Mercer (a provider of human resource services) and Oliver Wyman (a management and economic consultancy). About half of its revenue is generated outside the US.
Market cap 84.5B · 55,700 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 MRSH by 1 day
XOM tends to move before MRSH.
After testing 13 timing shifts, the strongest relationship was -0.599 (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
+0.068
10 periods · Return correlation when both series rose
Both Falling
+0.209
6 periods · Return correlation when both series fell
Diverging
-0.510
19 periods · Return correlation when series moved apart
R-Squared
35.7%
Share of variance in one series explained by the other.
Trend Agreement
44.6%
How often both series moved in the same direction period-to-period.
Overlap Quality
57
Thin shared window — 57 usable pairs.
Significance
p < 0.001
95% CI: [-0.742, -0.399]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
57 paired data points survived the daily window.
Raw input
57
1,254
Normalized
57
1,254
Prepared
57
1,254
Aligned
57
57
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,197
A: 0 / B: 1197
Series A
Marsh
MRSH
Market cap 84.5B · 55,700 employees
Stock · 57 raw → 57 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
7
Estimated crossover points between normalized spreads.
Slope
-1.1135
Linear regression slope.
Intercept
349.1659
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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