GRMN vs USO: Correlation
How closely do Garmin (GRMN) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and USO?
Across a 3-year window, the weekly returns of GRMN and USO correlate at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.18 over 3. Stretching to 5 years gives -0.13, with an annualized covariance of -239.9 %².
Out of 36 assets tracked against GRMN, USO lands near the bottom at #32. The last year tells two different stories: USO led by 49.0 percentage points, +25.1% for GRMN against +74.1% for USO. The rolling one-year correlation moved between -0.28 and 0.13 over the past three years, a moderate range.
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.
GRMN vs USO: side by side
| GRMN (Garmin) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +25.1% | +74.1% |
| 5-year return | +80.9% | +168.6% |
| Volatility (ann.) | 34.7% | 39.4% |
| Beta vs S&P 500 | 1.06 | -0.20 |
| Max drawdown (3Y) | -28.0% | -32.5% |
| Market cap | $55.9B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 1.45% | – |
| Sector / category | Consumer Discretionary | ETF · Commodities |
Year-by-year returns
| Year | GRMN | USO |
|---|---|---|
| 2022 | -30.2% | +29.0% |
| 2023 | +43.1% | -4.9% |
| 2024 | +63.3% | +13.4% |
| 2025 | -0.1% | -8.5% |
| 2026 | +44.1% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and USO good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GRMN and USO?
As of 2026-08-27, the correlation of weekly returns between GRMN and USO is -0.18 over 3 years, -0.24 over 1 year and -0.13 over 5 years.
Is USO a good diversifier for GRMN?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 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/grmn-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grmn-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRMN correlations · USO correlations
