AMEX Oil Index


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AMEX Oil Index

An index tracking approximately a dozen major petroleum companies, including ConocoPhillips and BP. It is considered an indicator of the performance of the oil industry. It is a price-weighted index.
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For example, the reduction in MSPE is shown to be between 22% and 28% for 1-month-ahead prediction based on the AMEX oil index.
The oil-sensitive stock price index with the longest sample period available is the AMEX oil index, which is a price-weighted index of the leading companies involved in the exploration, production, and development of petroleum.
Figure 2 depicts the AMEX oil index and the S&P 500 price index, and Figure 3 plots all the MSCI world sector indices.
According to the baseline results, the estimates of [beta] for the AMEX oil index are all positive and statistically significant, which suggests that higher values of oil-sensitive stock returns predict the higher growth rate of crude oil prices.
Using the relationship between nominal WTI oil price and the nominal AMEX oil index as an example, the Andrews-Quandt test statistic is 5.
AMEX Oil Index and the MSCI world energy sector provide useful information for forecasting the percentage changes in crude oil via in-sample predictive regressions.
Table 5 shows that at short horizons (1 and 3 months), the forecasts for nominal crude oil price levels based on the AMEX oil index produce lower MSPEs than the no-change forecast.
AMEX Oil Index and the MSCI world energy sector stock price index help to forecast crude oil prices (nominal and real) out-of-sample at short horizons (1 month).
For forecasting the 1-month-ahead nominal WTI price of oil using the AMEX oil index as a predictor from 1984:M10 to 2012:M8, we find that the /-statistics is 3.
The baseline findings with monthly data from 1984:M10 to 2012:M8 show that the AMEX oil index indeed provides useful information in forecasting crude oil prices via in-sample predictive regressions.
AMEX OIL INDEX XOI The Amex Oil Index (XOI) is a price-weighted index designed to measure the performance of the oil industry through changes in the prices of a cross section of widely-held corporations involved in the exploration, production, and development of petroleum.
E*Offering Senior Technical Analyst Mike Hurley will be discussing Nasdaq, Amex Oil Index, S&P Midcap Index, PHLX Semiconductor Sector Index, Intel Corporation (Nasdaq: INTC), and Linear Technology Corporation (Nasdaq: LLTC) on RadioWallStreet.