Foreign integrated energy stocks’ beta
In this part, we’ll compare the betas of integrated energy stocks. We have considered 90-day daily beta. Petrobras’s (PBR) beta is at 2.2 for the past 90 days. This was the highest compared to peers Total (TOT), ENI (E), and Suncor Energy (SU). On the other hand, TOT had the lowest beta at 0.8.
ENI and Suncor had betas at 1.1 and 1.2, respectively. For exposure to integrated energy stocks, investors can consider the iShares US Energy ETF (IYE). The ETF has ~40% exposure to integrated energy sector stocks.
Move on to the next part to know how integrated energy stocks’ implied volatilities changed in 2017.