Behind Valero’s Recent Correlation with WTI
Correlation of Valero stock with WTI
The correlation coefficient of Valero Energy’s (VLO) stock with the price of WTI (West Texas Intermediate) crude comes in at 0.08 for the past month, which is lower than the one-year average of 0.09. This implies that changes in WTI can justify only about 8% of the changes in VLO’s stock price over the past month, indicating a weak correlation.
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For more on the potential direction of oil prices, please refer to Market Realist’s article “Will US Crude Oil Prices Hit $40 per Barrel Next Week?”
For ongoing updates on these companies and the broader industry, check out Market Realist’s Energy and Power page.