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TETRA Technologies Reacts to Crude Oil

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Correlation between TETRA Technologies and crude oil

TETRA Technologies’ (TTI) correlation with crude oil on April 12–July 12 was 0.30. The correlation represents a positive relationship between TETRA Technologies 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!

The VanEck Vectors Oil Services ETF’s (OIH) correlation coefficient with crude oil since April 12 was 0.72. The correlation shows the sector’s high sensitivity to crude oil prices. OIH’s correlation with crude oil was higher in the past three months compared to its correlation with crude oil from July 12, 2017, to July 12, 2018.

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Implication

The WTI crude oil price has risen significantly since the end of June 2017. A positive correlation can benefit TETRA Technologies’ stock price if crude oil rises. However, TETRA Technologies’ correlation with crude oil’s price has decreased in the past three months—compared to the past year until July 12. Lower or falling correlations with oil mean that oil prices have less of an influence on the stocks’ movements on a daily basis and vice versa.

Correlation between oilfield services companies and crude oil

Tidewater’s (TDW) correlation coefficient on April 12–July 12 was 0.36. The correlation was higher compared to Tidewater’s correlation with crude oil in the past year. Precision Drilling’s (PDS) correlation with crude oil since April 12 was 0.51—lower compared to its correlation with crude oil in the past year. Core Laboratories’ (CLB) correlation with oil since April 12 was 0.48—higher than the correlation from July 12, 2017, to July 12, 2018.

Next, we’ll discuss the short interest in TETRA Technologies.

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