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May 16, 2019

On the Fickle Correlation Between Stocks and Oil Prices

The sharp decline in crude oil prices in Q4 of 2018 helped to take down the stock market in sympathy.  And then the rapid rebound by oil has coincided with a robust rebound in stock prices, with strong breadth numbers to help confirm the stock market’s strength in 2019.  But if you think you understand the relationship between stock prices and oil prices, then you have not looked at enough data yet.  Oil and stocks have been in a strong positive correlation since around the beginning of August 2018.  But for the 5 months prior to that start point, they were… more


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