GRX vs USO: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and United States Oil Fund (USO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and USO?
Over the past 3 years, GRX and USO moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.19). Over 5 years the correlation is 0.02, and the annualized covariance of weekly returns is -112.7 %².
USO is close to the least connected end of GRX's tracked universe, ranking #24 of 26. The last year tells two different stories: USO led by 59.8 percentage points, +14.3% for GRX against +74.1% for USO. One caveat on sizing: USO is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GRX vs USO: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +14.3% | +74.1% |
| 5-year return | +1.5% | +168.6% |
| Volatility (ann.) | 15.1% | 39.4% |
| Beta vs S&P 500 | 0.46 | -0.20 |
| Max drawdown (3Y) | -17.9% | -32.5% |
| Market cap | – | – |
| P/E (trailing) | 67.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | GRX | USO |
|---|---|---|
| 2022 | -20.0% | +29.0% |
| 2023 | -3.3% | -4.9% |
| 2024 | +9.6% | +13.4% |
| 2025 | +7.0% | -8.5% |
| 2026 | +8.3% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and USO good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GRX and USO?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.41 over the last year and 0.02 over 5 years.
Is USO a good diversifier for GRX?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 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/grx-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRX correlations · USO correlations
