BP p.l.c. (BP) — Stock Correlations & Overview
Over the past year, BP has moved most closely with BPH, IXC, SHEL. Explore the stocks most correlated and inversely correlated with BP below, along with its price, financials, and company profile.
Stocks correlated with BP
Correlation of daily returns. Higher positive values move with BP; negative values move opposite it. Informational only, not investment advice.
Most correlated with BP
| Symbol | Company | Correlation |
|---|---|---|
| BPH | BP p.l.c. ADRhedged | 0.96 |
| IXC | iShares Global Energy ETF | 0.84 |
| SHEL | Shell plc American Depositary Shares (Each represents two Ordinary shares) | 0.80 |
| OILT | Texas Capital Texas Oil Index ETF | 0.79 |
| E | ENI S.p.A. | 0.79 |
Most inversely correlated with BP
| Symbol | Company | Correlation |
|---|---|---|
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.77 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.76 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.76 |
| DUG | ProShares UltraShort Energy | -0.76 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.76 |
Frequently asked questions about BP correlations
- Which stocks are most correlated with BP?
- Based on one year of daily returns, the stocks most correlated with BP p.l.c. (BP) are BPH (0.96), IXC (0.84) and SHEL (0.80). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with BP?
- Over the past year, the stocks most inversely correlated with BP p.l.c. (BP) are WTID (-0.77), OILD (-0.76) and ERY (-0.76). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these BP correlations calculated?
- We compute the correlation of daily returns between BP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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