Coorelation between crude and HES

Discussion in 'Energy Futures' started by reno4nook, Jan 20, 2007.

  1. I recently read that the stock HES (Hess Corporation) mirrors the price movements of oil closer than any other stock..

    Does anyone here have trading experience with this to confirm?

    Any ideas what the correlation factor might be?
  2. rosy2


    heres rank correlation over the last 85 days

    CLG07 COP 0.715137346580947
    CLG07 CVX 0.667679719462303
    CLG07 HES 0.711046171829339
    CLG07 XOM 0.63635300993571
    COP CVX 0.747165400350672
    COP HES 0.72875511396844
    COP XOM 0.679193454120397
    CVX HES 0.710578609000584
    CVX XOM 0.80905902980713
    HES XOM 0.630391583869082