^XOI
and XLE tend to "generally" trend in a
similar volatile motion and
rate of change to Oil Price; however that was not the case in late 2013
as XLE-^XOI-^AMZ moved in a counter see saw action vs. oil prices for
several months, then recovered to oil price trending. Over the last few
months of mid 2015 XLE, ^XOI and ^AMZ have again reverted to a counter
trending against oil prices, trending down much earlier than oil prices
second bottoming post the 2014 crises; supporting contention other
forces at work in energy sector stocks than oil pricing. However, if true to post
1985 crises trends XLE-^XOI-^AMZ should eventually return to trend with
oil prices over the long term. (^AMZ
trends with XLE and ^XOI and Oil Price, but with much less volatile
reaction-rate of change.)