Correlation Between Exxon and Orthometrix

Can any of the company-specific risk be diversified away by investing in both Exxon and Orthometrix at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Exxon and Orthometrix into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Exxon Mobil Corp and Orthometrix, you can compare the effects of market volatilities on Exxon and Orthometrix and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Exxon with a short position of Orthometrix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exxon and Orthometrix.

Diversification Opportunities for Exxon and Orthometrix

0.0

Correlation Coefficient

Exxon  Orthometrix

Pay attention - limited upside

The 3 months correlation between Exxon and Orthometrix is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Exxon Mobil Corp and Orthometrix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Orthometrix and Exxon is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Exxon Mobil Corp are associated (or correlated) with Orthometrix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Orthometrix has no effect on the direction of Exxon i.e., Exxon and Orthometrix go up and down completely randomly.

Pair Corralation between Exxon and Orthometrix

If you would invest  11,303  in Exxon Mobil Corp on October 8, 2025 and sell it today you would earn a total of  1,233  from holding Exxon Mobil Corp or generate 10.91% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Exxon Mobil Corp  vs.  Orthometrix

Exxon Mobil Corp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Exxon Mobil Corp are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of very conflicting basic indicators, Exxon may actually be approaching a critical reversion point that can send shares even higher in February 2026.

Orthometrix

Risk-Adjusted Performance

Weakest

Over the last 90 days Orthometrix has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Orthometrix is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Exxon and Orthometrix

The main advantage of trading using opposite Exxon and Orthometrix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exxon position performs unexpectedly, Orthometrix can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Orthometrix will offset losses from the drop in Orthometrix's long position.

The idea behind Exxon Mobil Corp and Orthometrix pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Check out your portfolio center.

Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.