HCA vs USO: Correlation
How closely do HCA Healthcare (HCA) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCA and USO?
Over the past 3 years, HCA and USO moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -216.3 %².
Among the 32 assets we track against HCA, USO ranks #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with USO ahead by 69.9 points (+4.2% versus +74.1%). On a rolling one-year basis the correlation drifted between -0.32 and 0.14, a moderate band.
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.
HCA vs USO: side by side
| HCA (HCA Healthcare) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +4.2% | +74.1% |
| 5-year return | +72.5% | +168.6% |
| Volatility (ann.) | 26.9% | 39.4% |
| Beta vs S&P 500 | 0.42 | -0.20 |
| Max drawdown (3Y) | -33.6% | -32.5% |
| Market cap | $90.8B | – |
| P/E (trailing) | 14.1 | – |
| Dividend yield | 0.70% | – |
| Sector / category | Health Care | ETF · Commodities |
Year-by-year returns
| Year | HCA | USO |
|---|---|---|
| 2022 | -5.6% | +29.0% |
| 2023 | +13.8% | -4.9% |
| 2024 | +11.8% | +13.4% |
| 2025 | +56.7% | -8.5% |
| 2026 | -9.9% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCA and USO good diversifiers for each other?
Yes. With a correlation of -0.20, HCA and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HCA and USO?
The HCA/USO correlation stands at -0.20 on a 3-year window (1 year: -0.21, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for HCA?
Yes. With a correlation of -0.20, HCA and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/hca-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hca-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HCA correlations · USO correlations
