Correlation Analysis
Exxon Mobil Corporation vs Zscaler, Inc. Common Stock
XOM vs ZS
-0.359
Light inverse
When one moves up, the other tends to move down.
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
Zscaler, Inc. Common Stock
↗ZS
Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.
Market cap 22.4B · 7,923 employees
Time Series
Relative Performance
Who Moves First
XOM leads ZS by 6 days
XOM tends to move before ZS.
After testing 13 timing shifts, the strongest relationship was -0.373 (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
+0.019
11 periods · Return correlation when both series rose
Both Falling
-0.883
7 periods · Return correlation when both series fell
Diverging
-0.705
17 periods · Return correlation when series moved apart
R-Squared
12.9%
Share of variance in one series explained by the other.
Trend Agreement
51.2%
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: [-0.406, -0.309]
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
Exxon Mobil Corporation
XOM
Market cap 680.7B
Stock · 1,254 raw → 1,254 prepared
Series B
Zscaler, Inc. Common Stock
ZS
Market cap 22.4B · 7,923 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
15
Estimated crossover points between normalized spreads.
Slope
-0.9399
Linear regression slope.
Intercept
296.8648
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
XOM
Exxon Mobil Corporation
Highest
+0.956
Sandisk Corporation Common Stock
SNDK · 281 data points
Lowest
-0.902
Charter Comm Inc Del CL A New
CHTR · 1,254 data points
ZS
Zscaler, Inc. Common Stock
Highest
+0.628
Amazon.Com Inc
AMZN · 1,254 data points
Lowest
+0.024
Johnson & Johnson
JNJ · 1,254 data points
Saved 4 hours ago · ID: stock-xom-vs-stock-zs-daily