# Copper and Crude oil

Their prices have moved together.

Source page: https://www.materialinsights.org/links/copper-and-crude-oil/

[Copper](https://www.materialinsights.org/commodities/copper/) (commodity) and [Crude oil](https://www.materialinsights.org/energy/crude_oil/) (energy): 1 relationship.

## How they are linked

### 1. Price link: common driver

*Cost and price · Strong · Both ways*

Oil and copper both respond to world growth, the US dollar and investor risk appetite, and diesel is a large mining cost. Monthly changes correlate at 0.47 and yearly at 0.70, but only 0.07 in the last five years as their drivers diverged.

- **0.47** monthly change correlation
- **0.70** 12-month change correlation
- **0.50** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.