The real reason they don't race in the rain on oval is safety.
The Nascab crew chiefs have no experience racing in the rain.
With the exception of Robby Gordon none of the drivers have any experience in the rain either.
Nascar has done very little in the way of improvements in driver's safety. They don't need to risk having one of their "young guns" hit the wall and die.
Other factors I believe are the downforce to weight ratio and the front to back weight balance. Nascabs being heavy and having little downforce along with a front mounted engine require much more grip from the rear tires than say a light, mid engine, high downforce open wheeler.
Quoted: Before the Grand Am series started, during the Rolex24 at Daytona, the Nissan GTPs, the Porsche 962s, and the Toyota Eagles were all well over 200 mph at Start/Finish AFTER coming out of the chicane on the backstretch and then having to brake down to about 70 or so for the entrance to Turn 1 and the infield. We clocked them on more than one occasion with radar guns. When it rained, they MIGHT slow 10 mph on the banking but that is it and they were still balls to the walls going into Turn 1.
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Heavy, low downforce, front engined car, with unproven tires and a driver that has no rain experience
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Medium weight, medium downforce, mid engine car with tested rain tires and an expierenced rain driver.