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Oil Isn’t the Only Factor Dragging Energy Stocks

Robert Scott
Oil Isn’t the Only Factor Dragging Energy Stocks

On November 8–15, major energy ETFs had the following correlations with US crude oil January futures: the VanEck Vectors Oil Services ETF (OIH): 71.2% the Energy Select Sector SPDR ETF (XLE): 65.5% the Alerian MLP ETF (AMLP): 56.6% the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 37.8%