NewsDialy
Over the past year, Occidental Petroleum shares have moved in the opposite direction of the broader market, providing a counterbalance to portfolio risks rather than amplifying them.
This recent inverse correlation stands in contrast to the stock's historical behavior, where it mostly moved in tandem with the S&P 500 over the prior five years. The shift in trading patterns began in March 2026.
During this period, the S&P 500 gained an average of 0.65% on positive days, while a $10,000 holding in Occidental lost approximately $30.
Conversely, on average negative days when the index fell 0.6%, the same Occidental holding gained about $67.
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