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Spot Crude Oil Price: West Texas Intermediate vs Energy Select Sector SPDR Fund (XLE)
Correlation
of % moves
+67%
In sync
of periods
72%
History
monthsmonths · through 2026-07
59
These move in the same direction about 72% of the time
When one swings, the other often swings by a similar amount (~44% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Swings around
Their relationship swings around — sometimes tight, sometimes loose. Don't trust a single snapshot.
Advanced
Statistics
In sync(i)
72%
Headline metric
Movement correlation(i)
+67%
Based on % moves
95% CI
+49% → +79%
Likely range of correlation
Pipeline
Pipeline Summary
59 paired data points survived the monthly window.
Raw input
967
1,253
Normalized
967
1,253
Prepared
967
61
Aligned
59
59
Invalid removed
R²(i)
44%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
58
Thin
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -18 to 18 months.
Selected shift
No shift
Correlation at this shift
+67%
No shift — both series at their actual dates.
58 overlapping points at this shift
Baseline
+67%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+67%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+52%
23 periods · Return correlation when both series rose
Both Falling
+42%
19 periods · Return correlation when both series fell
Diverging
-58%
16 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
910
A: 908 / B: 2
Series A
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 967 raw → 967 prepared
Series B
XLE
Stock · 1,253 raw → 61 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
0.4164
Linear regression slope.
Intercept
0.0134
Linear regression intercept.
Saved 2 weeks ago · ID: fred-wtisplc_stock-xle_monthly_5y