DEO vs USO: Correlation
Diageo plc (DEO) 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 DEO and USO?
Over the past 3 years, DEO and USO moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.47 versus -0.28 over 3 years. Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -297.6 %².
Among the 13 assets we track against DEO, USO sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with USO ahead by 88.9 points (-14.8% versus +74.1%).
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.
DEO vs USO: side by side
| DEO (Diageo plc) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -14.8% | +74.1% |
| 5-year return | -45.7% | +168.6% |
| Volatility (ann.) | 26.8% | 39.4% |
| Beta vs S&P 500 | 0.68 | -0.20 |
| Max drawdown (3Y) | -54.4% | -32.5% |
| Market cap | $51.2B | – |
| P/E (trailing) | 29.5 | – |
| Dividend yield | 0.53% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | DEO | USO |
|---|---|---|
| 2022 | -17.4% | +29.0% |
| 2023 | -16.3% | -4.9% |
| 2024 | -10.1% | +13.4% |
| 2025 | -29.3% | -8.5% |
| 2026 | +7.8% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DEO and USO good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DEO and USO?
The DEO/USO correlation stands at -0.28 on a 3-year window (1 year: -0.47, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for DEO?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/deo-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/deo-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DEO correlations · USO correlations
