ExxonMobil (XOM) vs WTI Oil
Live side-by-side comparison with current values, changes, and key statistics.
Why This Comparison Matters
XOM as an integrated major benefits from both upstream (oil production) and downstream (refining, chemicals). When oil rallies, XOM typically outperforms but with less leverage than pure E&P names. When oil falls, XOM is cushioned by refining margins and chemicals. The XOM/oil ratio captures the integrated-major value proposition.
Cross-Asset Analysis
To orient the reader: Exxon Mobil (XOM) represents exxon Mobil Corp., energy sector bellwether, tracks oil prices and WTI Crude Oil (FRED) represents west Texas Intermediate crude oil spot price, which is why this comparison sits in the cross asset pair category on Convex. Policy-driven transitions trigger fast repricing into the Exxon Mobil (XOM)-WTI Crude Oil (FRED) relationship because the two markets respond to policy guidance on different timescales. Regime classification based on Exxon Mobil (XOM)-WTI Crude Oil (FRED) can be feedback-driven, because extreme spread values often snap back via mean reversion or regime change.
Analysts pair Exxon Mobil (XOM) with WTI Crude Oil (FRED) to build cross-asset indicators that are more difficult to game than any single-market series. Liquidity-driven windows produce cross-asset correlation in Exxon Mobil (XOM) and WTI Crude Oil (FRED); fundamentals-driven regimes produce decoupling. Macro funds use the Exxon Mobil (XOM)-WTI Crude Oil (FRED) spread to implement views cleaner than single-asset trades, distilling the exact macro factor they want to bet on.
Correlation trading desks mark options on the Exxon Mobil (XOM)-WTI Crude Oil (FRED) spread once the base relationship has been calibrated across adequate regimes. Cross-asset flows follow macro regime changes with characteristic lags, which is why spreads like Exxon Mobil (XOM)-WTI Crude Oil (FRED) often precede coincident indicators.
90-Day Statistics
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Frequently Asked Questions
What is the relationship between Exxon Mobil (XOM) and WTI Crude Oil (FRED)?+
Exxon Mobil (XOM) and WTI Crude Oil (FRED) are connected through shared macro drivers across asset classes. When the dominant macro driver shifts, both respond, though with different sensitivities and at different speeds. The spread between Exxon Mobil (XOM) and WTI Crude Oil (FRED) captures the specific macro signal that flows through this relationship.
When does Exxon Mobil (XOM) typically lead WTI Crude Oil (FRED)?+
Exxon Mobil (XOM) tends to lead WTI Crude Oil (FRED) during macro regime changes, where the more liquid asset moves first. In those periods, moves in Exxon Mobil (XOM) precede corresponding moves in WTI Crude Oil (FRED) by days to weeks, depending on the transmission channel and the depth of each market.
How are Exxon Mobil (XOM) and WTI Crude Oil (FRED) historically correlated?+
Long-run correlation between Exxon Mobil (XOM) and WTI Crude Oil (FRED) varies by regime. Cross-asset correlations vary by regime, tending to tighten in stress and loosen during normal conditions. The correlation is not stable: it shifts with macro conditions, and the periods when it breaks down are often the most informative moments in the Exxon Mobil (XOM)-WTI Crude Oil (FRED) relationship.
What macro conditions drive divergence between Exxon Mobil (XOM) and WTI Crude Oil (FRED)?+
Divergence between Exxon Mobil (XOM) and WTI Crude Oil (FRED) typically arises from idiosyncratic shocks in one asset, policy interventions, or structural shifts in demand. When one asset's idiosyncratic drivers dominate, the spread moves in ways that the common macro story does not predict, which is usually a signal to look more carefully at the specific drivers at work in Exxon Mobil (XOM) or WTI Crude Oil (FRED).
Is Exxon Mobil (XOM) a hedge for WTI Crude Oil (FRED)?+
Cross-asset hedges between Exxon Mobil (XOM) and WTI Crude Oil (FRED) work when the macro drivers of the two assets are sufficiently decorrelated, which depends on the regime and therefore needs to be reviewed as conditions change. Effective hedging requires matching the hedge to the specific risk being protected, and the Exxon Mobil (XOM)-WTI Crude Oil (FRED) pair is best stress-tested under scenarios the investor most worries about before being sized into a real portfolio.
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Data sourced from FRED, CoinGecko, CBOE, and other providers. This page is for informational purposes only and does not constitute financial advice. Past performance does not guarantee future results.