FLO vs USO: Correlation
How closely do Flowers Foods, Inc. (FLO) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLO and USO?
Over the past 3 years, FLO and USO moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -278.1 %².
USO is close to the least connected end of FLO's tracked universe, ranking #14 of 15. The last year tells two different stories: USO led by 123.8 percentage points, -49.7% for FLO against +74.1% for USO.
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.
FLO vs USO: side by side
| FLO (Flowers Foods, Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -49.7% | +74.1% |
| 5-year return | -63.2% | +168.6% |
| Volatility (ann.) | 26.8% | 39.4% |
| Beta vs S&P 500 | 0.20 | -0.20 |
| Max drawdown (3Y) | -68.8% | -32.5% |
| Market cap | $1.5B | – |
| P/E (trailing) | 26.8 | – |
| Dividend yield | 13.81% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | FLO | USO |
|---|---|---|
| 2022 | +8.0% | +29.0% |
| 2023 | -18.6% | -4.9% |
| 2024 | -4.3% | +13.4% |
| 2025 | -43.6% | -8.5% |
| 2026 | -33.0% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLO and USO good diversifiers for each other?
Yes. With a correlation of -0.26, FLO and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FLO and USO?
As of 2026-08-27, the correlation of weekly returns between FLO and USO is -0.26 over 3 years, -0.25 over 1 year and -0.20 over 5 years.
Is USO a good diversifier for FLO?
Yes. With a correlation of -0.26, FLO and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/flo-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flo-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLO correlations · USO correlations
