Whats tightly correlated to Oil?

Discussion in 'Stocks' started by trading1, Jul 13, 2009.

  1. EFTs like USO are not, they move down with oil but not up with oil and as a result are not too correlated. Are there any alternatives, any suggestions (apart from trading oil futures)?
  2. DXO is pretty good, though it's a 2X.
  3. Stay away from the USO and DXO because of the front-month roll.

    Your purest correlation will be with the OIH, which is the Oil Drillers Index, comprised of RIG (17%), SLB (12%), and DO (9%).
  4. rosy2


  5. thank you for the leads, I have a 200 day correlation with oil futures of:
    oil 0.8
    oih 0.88
    iye 0.83
    the others were way less