IDXX vs USO: Correlation
How closely do Idexx Laboratories (IDXX) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and USO?
Over the past 3 years, IDXX and USO moved with a correlation of -0.21, 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 -0.21 over 3 years. Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -249.5 %².
Among the 35 assets we track against IDXX, USO ranks #30 by 3-year correlation. The last year tells two different stories: USO led by 89.0 percentage points, -14.9% for IDXX against +74.1% for USO. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.40 to 0.23.
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.
IDXX vs USO: side by side
| IDXX (Idexx Laboratories) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -14.9% | +74.1% |
| 5-year return | -20.7% | +168.6% |
| Volatility (ann.) | 30.9% | 39.4% |
| Beta vs S&P 500 | 1.01 | -0.20 |
| Max drawdown (3Y) | -37.4% | -32.5% |
| Market cap | $42.9B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | ETF · Commodities |
Year-by-year returns
| Year | IDXX | USO |
|---|---|---|
| 2022 | -38.0% | +29.0% |
| 2023 | +36.1% | -4.9% |
| 2024 | -25.5% | +13.4% |
| 2025 | +63.6% | -8.5% |
| 2026 | -19.4% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and USO good diversifiers for each other?
Yes. With a correlation of -0.21, IDXX and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IDXX and USO?
As of 2026-08-27, the correlation of weekly returns between IDXX and USO is -0.21 over 3 years, -0.40 over 1 year and -0.10 over 5 years.
Is USO a good diversifier for IDXX?
Yes. With a correlation of -0.21, IDXX and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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/idxx-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/idxx-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDXX correlations · USO correlations
