BKT vs USO: Correlation
Measured on weekly returns over the past three years, BlackRock Income Trust Inc. (The) (BKT) and United States Oil Fund (USO) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKT and USO?
Over the past 3 years, BKT and USO moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.24 over 3 years. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -90.9 %².
Out of 16 assets tracked against BKT, USO lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months USO outperformed by 77.4 percentage points (-3.3% for BKT against +74.1% for USO). Note the risk asymmetry: USO runs 4.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BKT vs USO: side by side
| BKT (BlackRock Income Trust Inc. (The)) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -3.3% | +74.1% |
| 5-year return | -16.5% | +168.6% |
| Volatility (ann.) | 9.7% | 39.4% |
| Beta vs S&P 500 | 0.19 | -0.20 |
| Max drawdown (3Y) | -10.4% | -32.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 10.17% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | BKT | USO |
|---|---|---|
| 2022 | -21.6% | +29.0% |
| 2023 | +7.6% | -4.9% |
| 2024 | +3.2% | +13.4% |
| 2025 | +5.0% | -8.5% |
| 2026 | +0.0% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKT and USO good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BKT and USO?
The BKT/USO correlation stands at -0.24 on a 3-year window (1 year: -0.48, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for BKT?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkt-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkt-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BKT correlations · USO correlations
