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ConocoPhillips’s Stock Underperformed Crude Oil Prices Last Week

ConocoPhillips’s Stock Underperformed Crude Oil Prices Last Week

As we saw in the previous part of this series, ConocoPhillips’s (COP) stock price was down ~6%. Crude oil (SCO) fell more than 1%. So, it’s clear that COP’s stock price underperformed crude oil prices. In this part, we’ll quantify this correlation between COP and crude oil prices.