FATE vs USO: Correlation
How closely do Fate Therapeutics, Inc. (FATE) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FATE and USO?
On 3 years of weekly data the FATE/USO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.22 over 3 years. The 5-year figure is -0.15, and annualized covariance runs at -959.5 %².
USO is close to the least connected end of FATE's tracked universe, ranking #19 of 21. The last year tells two different stories: FATE led by 52.7 percentage points, +126.8% for FATE against +74.1% for USO. Risk is not evenly split, since FATE carries 2.8 times the volatility of the other side.
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.
FATE vs USO: side by side
| FATE (Fate Therapeutics, Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +126.8% | +74.1% |
| 5-year return | -96.5% | +168.6% |
| Volatility (ann.) | 110.8% | 39.4% |
| Beta vs S&P 500 | 2.88 | -0.20 |
| Max drawdown (3Y) | -91.9% | -32.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | FATE | USO |
|---|---|---|
| 2022 | -82.8% | +29.0% |
| 2023 | -62.9% | -4.9% |
| 2024 | -55.9% | +13.4% |
| 2025 | -40.6% | -8.5% |
| 2026 | +159.2% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FATE and USO good diversifiers for each other?
Yes. With a correlation of -0.22, FATE and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FATE and USO?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.38 over the last year and -0.15 over 5 years.
Is USO a good diversifier for FATE?
Yes. With a correlation of -0.22, FATE and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fate-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fate-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FATE correlations · USO correlations
