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How Schlumberger Is Reacting to Crude Oil Prices

Alex Chamberlin
How Schlumberger Is Reacting to Crude Oil Prices

The correlation coefficient between the price of Schlumberger (SLB) stock and the price of WTI crude oil from April 3 to July 3 is 0.66. That indicates a positive relationship between Schlumberger stock and crude oil prices. Schlumberger’s correlation with the VanEck Vectors Oil Services ETF (OIH) since April 3 is 0.89. OIH tracks an index of 25 OFS (oilfield equipment and services) companies.