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Oil and the Broader Market Are Dragging Energy ETFs

Robert Scott
Oil and the Broader Market Are Dragging Energy ETFs

On October 18–25, major energy ETFs had the following correlations with US crude oil December futures: the VanEck Vectors Oil Services ETF (OIH): 42.7% the Energy Select Sector SPDR ETF (XLE): 35.4% the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 29.8% the Alerian MLP ETF (AMLP): 20%