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Is the Broader Market Pulling Energy ETFs?

Robert Scott
Is the Broader Market Pulling Energy ETFs?

On October 4–11, major energy ETFs had the following correlations with US crude oil November futures: the Energy Select Sector SPDR ETF (XLE): 99.6% the Alerian MLP ETF (AMLP): 95.4% the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 93.5% the VanEck Vectors Oil Services ETF (OIH): 88.7%