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Schlumberger and Halliburton’s Correlation with Crude Oil

Alex Chamberlin
Schlumberger and Halliburton’s Correlation with Crude Oil

Are Schlumberger and Halliburton Attractive after 1Q18? In this part, we’ll analyze the correlation between Schlumberger (SLB) and Halliburton’s (HAL) stock prices with the West Texas Intermediate crude oil price. The correlation coefficient between Schlumberger’s stock price and crude oil prices from May 3, 2017, to May 3, 2018, was 0.53. The correlation indicates a strong positive relationship between Schlumberger stock and crude oil prices.