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Legacy Reserves’ Correlation with Crude Oil Increased

Kurt Gallon
Legacy Reserves’ Correlation with Crude Oil Increased

Legacy Reserves (LGCY), an upstream MLP involved in crude, natural gas, and NGLs (natural gas liquids) production, has a one-year correlation of 0.34 with crude oil as of June 6. The correlation coefficient between Legacy Reserves and crude oil has increased to 0.43 and 0.44 during the last three-month and one-month period.