GEHC vs USO: Correlation
Measured on weekly returns over the past three years, GE HealthCare (GEHC) and United States Oil Fund (USO) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and USO?
Across a 3-year window, the weekly returns of GEHC and USO correlate at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.18 over 3 years. Stretching to 5 years gives -0.13, with an annualized covariance of -231.4 %².
Among the 52 assets we track against GEHC, USO ranks #46 by 3-year correlation. Correlation aside, the last 12 months split them widely, with USO ahead by 76.3 points (-2.2% versus +74.1%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.49 to 0.38.
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.
GEHC vs USO: side by side
| GEHC (GE HealthCare) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -2.2% | +74.1% |
| 5-year return | n/a | +168.6% |
| Volatility (ann.) | 32.4% | 39.4% |
| Beta vs S&P 500 | 1.22 | -0.20 |
| Max drawdown (3Y) | -37.4% | -32.5% |
| Market cap | $32.7B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | – |
| Sector / category | Health Care | ETF · Commodities |
Year-by-year returns
| Year | GEHC | USO |
|---|---|---|
| 2022 | – | +29.0% |
| 2023 | +32.6% | -4.9% |
| 2024 | +1.3% | +13.4% |
| 2025 | +5.1% | -8.5% |
| 2026 | -11.5% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between GEHC and USO?
As of 2026-08-27, the correlation of weekly returns between GEHC and USO is -0.18 over 3 years, -0.48 over 1 year and -0.13 over 5 years.
Is USO a good diversifier for GEHC?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/gehc-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gehc-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · USO correlations
