Correlation between Helix Energy Solutions Group and crude oil
Helix Energy Solutions Group’s (HLX) correlation with crude oil from January 1 to May 10 was 0.42, which indicates a positive relationship between HLX’s stock and crude oil prices. Check out all the data we have added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look!
HLX’s correlation with crude oil and its implication
The West Texas Intermediate (or WTI) crude oil price has gone up significantly since the end of June 2017. A positive correlation could benefit HLX’s stock price if crude oil rises. Helix Energy Solutions Group’s correlation with crude oil price has decreased since the beginning of 2018 compared to the past year.
Correlation between oilfield services companies and crude oil
Helmerich & Payne’s (HP) correlation coefficient since January 1 was 0.62, which was higher than its correlation with crude oil in the past year as of May 10. Oil States International’s (OIS) correlation coefficient since January 1 was 0.44, which was lower than the correlation from May 10, 2017, to May 10, 2018. Oceaneering International’s (OII) correlation coefficient from January 1, 2018, to May 10, 2018, was 0.58, which was higher than OII’s correlation with crude oil in the past year as of May 10.