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Schlumberger Reacted to Crude Oil’s Movements Last Week

Alex Chamberlin
Schlumberger Reacted to Crude Oil’s Movements Last Week

In the week that ended on July 13, Schlumberger’s (SLB) correlation with crude oil was 0.69. This strong correlation implied that the stock was closely tracking crude oil’s movements. Last week, Schlumberger’s correlation with the VanEck Vectors Oil Services ETF (OIH) was 0.92.