JETS vs USO: Correlation
US Global Jets ETF (JETS) and United States Oil Fund (USO) show a negative relationship: their 3-year correlation of weekly returns is -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and USO?
On 3 years of weekly data the JETS/USO correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.68 versus -0.40 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -459.2 %².
Among the 54 assets we track against JETS, USO sits near the bottom by co-movement, at rank #52. The last year tells two different stories: USO led by 60.9 percentage points, +13.2% for JETS against +74.1% for USO. This link changes with the market regime, having swung between -0.66 and 0.28 on a rolling one-year basis.
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.
JETS vs USO: side by side
| JETS (US Global Jets ETF) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +13.2% | +74.1% |
| 5-year return | +30.9% | +168.6% |
| Volatility (ann.) | 29.2% | 39.4% |
| Beta vs S&P 500 | 1.16 | -0.20 |
| Max drawdown (3Y) | -35.2% | -32.5% |
| Sector / category | ETF · Thematic | ETF · Commodities |
Year-by-year returns
| Year | JETS | USO |
|---|---|---|
| 2022 | -19.0% | +29.0% |
| 2023 | +11.4% | -4.9% |
| 2024 | +33.2% | +13.4% |
| 2025 | +11.6% | -8.5% |
| 2026 | +4.6% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and USO good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JETS and USO?
As of 2026-08-27, the correlation of weekly returns between JETS and USO is -0.40 over 3 years, -0.68 over 1 year and -0.18 over 5 years.
Is USO a good diversifier for JETS?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 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/jets-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jets-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JETS correlations · USO correlations
