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April 2010

The Relationship between Oil Price & Kuwait Index-Is it breaking?

Date : 07/04/2010 Author: M.R. Raghu & Layla Al-Ammar

Sometime back we created this historical chart depicting oil price and Kuwait stock index since 1994. Last time when we checked this in 2008, the relationship showed a historical correlation of more than 90%. A plain look at the chart would also make one feel that they are not two different lines.

However what caught our attention is the recent divergence between oil price and KSE Index.  While the long-term correlation (since 1994) stands at 93%, the last five years correlation is placed at 75%.

Tags:  KSE, Oil
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