ECL vs USO: Correlation
Measured on weekly returns over the past three years, Ecolab (ECL) and United States Oil Fund (USO) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and USO?
Across a 3-year window, the weekly returns of ECL and USO correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.53) than the 3-year average (-0.35). Stretching to 5 years gives -0.18, with an annualized covariance of -267.2 %².
Among the 53 assets we track against ECL, USO sits near the bottom by co-movement, at rank #51. The last year tells two different stories: USO led by 71.0 percentage points, +3.1% for ECL against +74.1% for USO. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.52 to 0.04. One caveat on sizing: USO is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ECL vs USO: side by side
| ECL (Ecolab) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +3.1% | +74.1% |
| 5-year return | +34.0% | +168.6% |
| Volatility (ann.) | 19.5% | 39.4% |
| Beta vs S&P 500 | 0.64 | -0.20 |
| Max drawdown (3Y) | -20.1% | -32.5% |
| Market cap | $80.1B | – |
| P/E (trailing) | 39.1 | – |
| Dividend yield | 0.98% | – |
| Sector / category | Materials | ETF · Commodities |
Year-by-year returns
| Year | ECL | USO |
|---|---|---|
| 2022 | -37.1% | +29.0% |
| 2023 | +37.9% | -4.9% |
| 2024 | +19.3% | +13.4% |
| 2025 | +13.2% | -8.5% |
| 2026 | +9.5% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between ECL and USO?
The ECL/USO correlation stands at -0.35 on a 3-year window (1 year: -0.53, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for ECL?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
A reading of -0.35 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/ecl-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecl-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ECL correlations · USO correlations
