Correlation of Crude Oil price & Crude Palm Oil Price

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Analyst said the correlation of Crude Oil price & soyabean oil price (SBO) & consequently Crude Palm Oil Price (KPO) is 80 to 100% correlation.

He used Oil at US$113/barrel: TP Wilmar S$3.10; TP First Res S$0.55

If Oil at US$80 average for the year, then TP for Wilmar S$2.19; TP for First Res S$0.39

If Oil at US$60 average for the year, then TP for Wilmar S$1.16; TP for First Res S$0.29

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