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Is Oil’s Late Recovery Benefiting Energy ETFs?

Robert Scott
Is Oil’s Late Recovery Benefiting Energy ETFs?

In the week ended yesterday, major energy ETFs’ correlation with US crude oil September futures was as follows: The SPDR S&P Oil & Gas Exploration & Production ETF’s (XOP) was 75%. The Alerian MLP ETF’s (AMLP) was 66.1%. The Energy Select Sector SPDR ETF’s (XLE) was 55.1%. The VanEck Vectors Oil Services ETF’s (OIH) was 25.9%.