Is there a direct correlation between oil prices and Exxon mobil stock?

I mean it seems everytime there is a huge jump in oil prices (xom) or Exxon follows it exactly. Is it better than following a oil index?





Thank YouIs there a direct correlation between oil prices and Exxon mobil stock?
The correlation is probably fairly high, but not perfect. Naturally, the oil index has a higher correlation to oil than Exxon, so you should follow the index.