AEO vs USO: Correlation
Measured on weekly returns over the past three years, American Eagle Outfitters, Inc. (AEO) and United States Oil Fund (USO) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEO and USO?
Across a 3-year window, the weekly returns of AEO and USO correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.26). Stretching to 5 years gives -0.19, with an annualized covariance of -554.1 %².
Among the 14 assets we track against AEO, USO sits near the bottom by co-movement, at rank #12. The last year tells two different stories: USO led by 44.4 percentage points, +29.7% for AEO against +74.1% for USO.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AEO vs USO: side by side
| AEO (American Eagle Outfitters, Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +29.7% | +74.1% |
| 5-year return | -39.1% | +168.6% |
| Volatility (ann.) | 54.2% | 39.4% |
| Beta vs S&P 500 | 1.21 | -0.20 |
| Max drawdown (3Y) | -63.1% | -32.5% |
| Market cap | – | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.84% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | AEO | USO |
|---|---|---|
| 2022 | -43.4% | +29.0% |
| 2023 | +54.9% | -4.9% |
| 2024 | -19.3% | +13.4% |
| 2025 | +64.7% | -8.5% |
| 2026 | -35.5% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEO and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between AEO and USO?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.40 over the last year and -0.19 over 5 years.
Is USO a good diversifier for AEO?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aeo-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aeo-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEO correlations · USO correlations
