CHART: Global Equity Market Correlation - Business Insider
The correlation coefficient shows the relationship between two variables. A correlation coefficient value of zero to one shows a positive correlation, zero states no correlation, and a negative one to zero shows an inverse correlation.
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Receive e-mail alerts for new research on VLO. You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address. Subscriptions can be managed in your user profile. The correlation coefficient of Valero VLO and WTI stands at 0. The stock of Valero moves in line with WTI prices only to a certain extent.
The correlation of PBF versus WTI stands at 0.
HollyFrontier HFCTesoro TSOand Delek US Holdings DK show slightly higher correlations to WTI of 0. Integrated energy companies have higher correlations to oil prices than downstream companies. A case in point is Suncor Energy SUan integrated energy giant that has a 0.
ETF Correlations - quantf research
Global stock market correlations high correlation is because integrated energy companies have upstream operations along with downstream activities. If you are looking for exposure to forex hours holiday sector stocks, you can consider the iShares North American Natural Resources ETF IGE.
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