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How Schlumberger Reacted to Crude Oil Prices Last Week

Alex Chamberlin
How Schlumberger Reacted to Crude Oil Prices Last Week

Schlumberger’s (SLB) correlation with crude oil was strong between April 13 to April 20, at 0.52, implying that the stock closely tracked crude oil. During the same time, Schlumberger’s correlation with the VanEck Vectors Oil Services ETF (OIH), which represents the oilfield equipment and service industry, was 0.91. SLB’s correlation with crude oil and its implications