We have looked at the correlation between raw materials and stocks, and we have repeatedly mentioned this correlation between oil and stocks and copper and stocks. Today, against the backdrop of stock sale, again due to fears of recession, the opening of the new trading front and the curve of the bonds, oil was also under strong pressure.
While the copper has shaped its bearish trend since the start of the war, oil has been slowing down. Today, however, “black gold” began to show signs of catching up with precious metal.
Today, the volatility of the WTI crude variety rose significantly, reaching January levels.
In terms of commodity and stock fears, VIX and the oil volatility index equaled.
Graphs: Used with permission of Bloomberg Finance L.P.
Trader Martin Nikolov