Fig. 5
Source: S&P 500 Dow Jones Indices, Coinmarketcap, and Factset
Energy stock prices and trends (Nov 2017–Jan 2020). Note: The company stocks (trading symbols) include Kinder Morgan Inc (KMI), Exxon Mobil (XOM), Chevron Corp (CVX), ConocoPhillips (COP), Schlumberger Ltd (SLB), EOG Resources (EOG), Occidental Petroleum (OXY), Marathon Petroleum Corp (MPC), Phillips 66 (PSX), and Valero Energy Corp (VLO). A trend is assumed to come into existence if the slope of the last 50 days is greater or less than zero. An upward (downtrend) trend is in place when the slope is positive (negative). The grey (white) areas are periods with uptrends (downtrends).