Krom, unless you can somehow quantify the information from Markgovols in such a way as to make it usable in your regression equations, you can't eliminate it as a cause. On the other hand, simply showing two things are moving in tandem doesn't show causality either.
This stock has never moved in side step with the price of oil. Its a story stock. News driven. So much for Regression Analysis. LOL. Its much more simplistic than that. The closer we get to the drill bit turning, the higher the share price will be. Its not rocket science, Doctor.
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