BF.B vs USO: Correlation
Brown–Forman (BF.B) and United States Oil Fund (USO) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and USO?
Over the past 3 years, BF.B and USO moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.28). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -380.6 %².
Out of 36 assets tracked against BF.B, USO lands near the bottom at #36. The last year tells two different stories: USO led by 81.5 percentage points, -7.4% for BF.B against +74.1% for USO. This link changes with the market regime, having swung between -0.48 and 0.24 on a rolling one-year basis.
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.
BF.B vs USO: side by side
| BF.B (Brown–Forman) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -7.4% | +74.1% |
| 5-year return | -56.8% | +168.6% |
| Volatility (ann.) | 34.0% | 39.4% |
| Beta vs S&P 500 | 0.51 | -0.20 |
| Max drawdown (3Y) | -64.8% | -32.5% |
| Market cap | $12.5B | – |
| P/E (trailing) | 18.3 | – |
| Dividend yield | 3.26% | – |
| Sector / category | Consumer Staples | ETF · Commodities |
Year-by-year returns
| Year | BF.B | USO |
|---|---|---|
| 2022 | -8.9% | +29.0% |
| 2023 | -11.9% | -4.9% |
| 2024 | -32.2% | +13.4% |
| 2025 | -29.3% | -8.5% |
| 2026 | +6.6% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between BF.B and USO?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.42 over the last year and -0.14 over 5 years.
Is USO a good diversifier for BF.B?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 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/bf-b-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bf-b-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BF.B correlations · USO correlations
