Which stocks move with oil?
Oil is a cost for airlines, shippers and chemical makers and a revenue line for producers and drillers. When oil swings, knowing which stocks move with it, and which against it, explains a lot of what happens in a portfolio that has nothing to do with the companies themselves.
Updated Oct 9, 2026
Oil +26% in 3 months
Oil is +26% over three months and +102% over a year. Over the past two years, 19 stocks have tended to rise with oil beyond what the market explains, led by APA, CF, FANG, while 26 have tended to fall with it, led by UAL, LULU, LUV.
Against the S&P 500
Select oil or any stock below. Each chart is its price against the S&P 500 over two years.
Stocks with a clear link to oil
Only stocks with a clear link to oil’s own moves, a correlation of 0.3 or more either way, ranked by sensitivity. A sensitivity of 0.3 means a 10% oil move beyond the market has gone with about a 3% move in the stock. Select a column to sort.
| Stock | Oil link | Sensitivity | Correlation | 3M | 1Y | Sector | Past year |
|---|---|---|---|---|---|---|---|
| APA APA Corporation | 100Rises with oil | 0.58 | 0.57 | +32% | +87% | Energy | |
| CF CF Industries | 100Rises with oil | 0.55 | 0.67 | −8% | +23% | Materials | |
| FANG Diamondback Energy | 100Rises with oil | 0.55 | 0.67 | 0% | +29% | Energy | |
| OXY Occidental Petroleum | 99Rises with oil | 0.51 | 0.65 | +10% | +33% | Energy | |
| DVN Devon Energy | 99Rises with oil | 0.48 | 0.57 | +10% | +38% | Energy | |
| LYB LyondellBasell | 99Rises with oil | 0.47 | 0.52 | +3% | +23% | Materials | |
| MPC Marathon Petroleum | 99Rises with oil | 0.44 | 0.50 | +53% | +141% | Energy | |
| COP ConocoPhillips | 99Rises with oil | 0.44 | 0.60 | +19% | +43% | Energy | |
| HAL Halliburton | 98Rises with oil | 0.42 | 0.45 | −8% | +36% | Energy | |
| DOW Dow Inc. | 98Rises with oil | 0.42 | 0.46 | −6% | +26% | Materials | |
| EOG EOG Resources | 98Rises with oil | 0.42 | 0.62 | +6% | +34% | Energy | |
| VLO Valero Energy | 98Rises with oil | 0.42 | 0.50 | +47% | +167% | Energy | |
| PSX Phillips 66 | 98Rises with oil | 0.41 | 0.51 | +40% | +112% | Energy | |
| TTD Trade Desk (The) | 97Rises with oil | 0.41 | 0.30 | −39% | −78% | Communication Services | |
| TRGP Targa Resources | 97Rises with oil | 0.35 | 0.44 | +3% | +70% | Energy | |
| OKE Oneok | 97Rises with oil | 0.35 | 0.47 | −3% | +24% | Energy | |
| XOM ExxonMobil | 97Rises with oil | 0.34 | 0.57 | +17% | +48% | Energy | |
| CVX Chevron Corporation | 96Rises with oil | 0.31 | 0.56 | +16% | +38% | Energy | |
| ADM Archer Daniels Midland | 96Rises with oil | 0.22 | 0.34 | −3% | +28% | Consumer Staples | |
| UAL United Airlines Holdings | 0Falls with oil | -0.41 | -0.43 | −11% | +10% | Industrials | |
| LULU Lululemon Athletica | 0Falls with oil | -0.31 | -0.31 | −21% | −46% | Consumer Discretionary | |
| LUV Southwest Airlines | 0Falls with oil | -0.30 | -0.34 | −13% | +28% | Industrials | |
| PPG PPG Industries | 1Falls with oil | -0.29 | -0.51 | −9% | +2% | Materials | |
| BF.B Brown–Forman | 1Falls with oil | -0.28 | -0.33 | +1% | −5% | Consumer Staples | |
| GPC Genuine Parts Company | 1Falls with oil | -0.27 | -0.36 | +3% | −5% | Consumer Discretionary | |
| CCL Carnival Corporation | 1Falls with oil | -0.27 | -0.30 | −1% | −9% | Consumer Discretionary | |
| SHW Sherwin-Williams | 1Falls with oil | -0.26 | -0.49 | −3% | −5% | Materials | |
| DAL Delta Air Lines | 2Falls with oil | -0.25 | -0.31 | −5% | +44% | Industrials | |
| MKC McCormick & Company | 2Falls with oil | -0.25 | -0.41 | −17% | −32% | Consumer Staples | |
| POOL Pool Corporation | 2Falls with oil | -0.25 | -0.34 | −24% | −47% | Consumer Discretionary | |
| IFF International Flavors & Fragrances | 3Falls with oil | -0.23 | -0.34 | +13% | +38% | Materials | |
| CRH CRH plc | 3Falls with oil | -0.23 | -0.41 | −21% | −31% | Materials | |
| CLX Clorox | 4Falls with oil | -0.21 | -0.37 | −12% | −30% | Consumer Staples | |
| AMCR Amcor | 4Falls with oil | -0.21 | -0.37 | −2% | +5% | Materials | |
| VMC Vulcan Materials Company | 4Falls with oil | -0.20 | -0.38 | −16% | −20% | Materials | |
| NVR NVR, Inc. | 6Falls with oil | -0.19 | -0.37 | −8% | −24% | Consumer Discretionary | |
| TAP Molson Coors Beverage Company | 6Falls with oil | -0.18 | -0.30 | −7% | −18% | Consumer Staples | |
| HD Home Depot (The) | 7Falls with oil | -0.18 | -0.39 | −14% | −24% | Consumer Discretionary | |
| GE GE Aerospace | 7Falls with oil | -0.18 | -0.30 | −13% | +2% | Industrials | |
| PNR Pentair | 7Falls with oil | -0.17 | -0.31 | −31% | −53% | Industrials | |
| ECL Ecolab | 8Falls with oil | -0.17 | -0.39 | +4% | 0% | Materials | |
| KMB Kimberly-Clark | 8Falls with oil | -0.17 | -0.33 | −11% | −18% | Consumer Staples | |
| ALLE Allegion | 9Falls with oil | -0.17 | -0.31 | +10% | −16% | Industrials | |
| MLM Martin Marietta Materials | 9Falls with oil | -0.16 | -0.35 | −16% | −25% | Materials | |
| LOW Lowe's | 9Falls with oil | -0.16 | -0.32 | −10% | −22% | Consumer Discretionary |
How to read this page
How it’s measured. Weekly returns over two years for S&P 500 and Nasdaq-100 stocks, regressed on the S&P 500 and on oil’s own move after taking the stock market out of it. Oil sensitivity is the oil coefficient.
Sources. Daily prices from Financial Modeling Prep.
Oil is measured through the USO fund. Taking the stock market’s move out of oil first means the sensitivity shows a stock’s link to oil itself, not just to a rising or falling market.
Sensitivities change as businesses hedge, diversify or shift costs; two years of weekly data is a guide to the recent relationship, not a fixed property.
This page is information, not investment advice. About our data and methods ›