Correlation Analysis
Texas Pacific Land Corporation vs Exxon Mobil Corporation
TPL vs XOM
+0.643
Moderate positive
When one moves up, the other tends to follow.
Texas Pacific Land Corporation
↗TPL
Texas Pacific Land Corp is mainly engaged in the sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. The group operates its business in two reportable segments: Land and Resource Management and Water Service and Operations. The Land and Resource Management segment, which generates maximum revenue, focuses on managing its several surface acres of land and its oil and gas royalty interests, principally concentrated in the Permian Basin. The revenue streams of this segment consist of royalties from oil and gas, revenues from easements and commercial leases, and land and material sales. The Water Services and Operations segment encompasses the business of providing a full-service water offering to operators in the Permian Basin.
Market cap 30.9B · 114 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
in sync
TPL and XOM tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.643 (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
+0.147
12 periods · Return correlation when both series rose
Both Falling
-0.013
8 periods · Return correlation when both series fell
Diverging
-0.629
15 periods · Return correlation when series moved apart
R-Squared
41.3%
Share of variance in one series explained by the other.
Trend Agreement
68.6%
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: [0.609, 0.674]
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
Texas Pacific Land Corporation
TPL
Market cap 30.9B · 114 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
11
Estimated crossover points between normalized spreads.
Slope
0.1355
Linear regression slope.
Intercept
67.9516
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
TPL
Texas Pacific Land Corporation
Highest
+0.839
Walmart Inc. Common Stock
WMT · 1,254 data points
Lowest
+0.269
Johnson & Johnson
JNJ · 1,254 data points
Saved 6 hours ago · ID: stock-tpl-vs-stock-xom-daily