uploads///Correlation

How’s Fairmount Santrol Holdings Reacting to Crude Oil Prices?

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Feb. 21 2018, Published 8:45 a.m. ET

Correlation between Fairmount Santrol Holdings and crude oil

Fairmount Santrol Holdings’ (FMSA) correlation with crude oil prices from February 16, 2017, to February 16, 2018, was 0.46. Fairmount Santrol Holdings’ correlation with the Dow Jones Industrial Average (DJIA-INDEX) from February 16, 2017, to February 16, 2018, was 0.21.

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Correlation with crude oil and its implication

The West Texas Intermediate crude oil price has gone up significantly since the end of June 2017. However, crude oil prices have shown volatility in the past few weeks. A positive correlation can benefit Fairmount Santrol Holdings’ stock price if crude oil rises. Fairmount Santrol Holdings’ correlation with crude oil prices has decreased in the week to February 16, 2018—compared to the week ending February 16, 2017.

Correlation between oilfield services companies and crude oil

The correlation coefficient of the VanEck Vectors Oil Services ETF (OIH) with crude oil since February 16, 2017, was 0.64. Oil States International’s (OIS) correlation with crude oil since February 16, 2017, was 0.49. Weatherford International’s (WFT) correlation coefficient since February 16, 2017, was 0.40. CARBO Ceramics’ (CRR) correlation coefficient, since February 16, 2017, was 0.44.

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