Analyzing Enbridge Energy Partners’ Stock’s Correlation with Oil

Crude oil prices have an impact on the Enbridge Energy Partners’ (EEP) stock price. Enbridge Energy Partners’ stock price moves in positive correlation with WTI (West Texas Intermediate) and natural gas prices.

EEP’s correlation with WTI crude oil futures prices over the past year was 0.62. In the same period, its correlation with natural gas prices was 0.19.

The above graph tracks the movements of EEP’s stock price with the prices of crude oil and natural gas for the past 16 years.