FSV vs USO: Correlation
How closely do FirstService Corporation (FSV) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSV and USO?
Over the past 3 years, FSV and USO moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.25 over 3 years. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -221.1 %².
USO is close to the least connected end of FSV's tracked universe, ranking #12 of 14. The last year tells two different stories: USO led by 103.4 percentage points, -29.3% for FSV against +74.1% for USO. Risk is not evenly split, since USO carries 1.8 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.
FSV vs USO: side by side
| FSV (FirstService Corporation) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -29.3% | +74.1% |
| 5-year return | -21.9% | +168.6% |
| Volatility (ann.) | 22.3% | 39.4% |
| Beta vs S&P 500 | 0.62 | -0.20 |
| Max drawdown (3Y) | -39.4% | -32.5% |
| Market cap | $6.2B | – |
| P/E (trailing) | 40.7 | – |
| Dividend yield | 0.81% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | FSV | USO |
|---|---|---|
| 2022 | -37.2% | +29.0% |
| 2023 | +33.1% | -4.9% |
| 2024 | +12.3% | +13.4% |
| 2025 | -13.5% | -8.5% |
| 2026 | -8.9% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSV and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FSV and USO?
As of 2026-08-27, the correlation of weekly returns between FSV and USO is -0.25 over 3 years, -0.40 over 1 year and -0.08 over 5 years.
Is USO a good diversifier for FSV?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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/fsv-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fsv-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSV correlations · USO correlations
