LOW vs USO: Correlation
Lowe's (LOW) and United States Oil Fund (USO) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOW and USO?
Across a 3-year window, the weekly returns of LOW and USO correlate at -0.28, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.28). Stretching to 5 years gives -0.13, with an annualized covariance of -272.9 %².
Out of 46 assets tracked against LOW, USO lands near the bottom at #43. Their recent paths diverged sharply: over the last 12 months USO outperformed by 92.5 percentage points (-18.4% for LOW against +74.1% for USO). The relationship is regime-dependent: the rolling one-year correlation swung between -0.42 and 0.12 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since USO carries 1.6 times the volatility of the other side.
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.
LOW vs USO: side by side
| LOW (Lowe's) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -18.4% | +74.1% |
| 5-year return | +11.1% | +168.6% |
| Volatility (ann.) | 24.8% | 39.4% |
| Beta vs S&P 500 | 0.83 | -0.20 |
| Max drawdown (3Y) | -29.0% | -32.5% |
| Market cap | – | – |
| P/E (trailing) | 17.8 | – |
| Dividend yield | 2.31% | – |
| Sector / category | Consumer Discretionary | ETF · Commodities |
Year-by-year returns
| Year | LOW | USO |
|---|---|---|
| 2022 | -21.5% | +29.0% |
| 2023 | +14.0% | -4.9% |
| 2024 | +13.0% | +13.4% |
| 2025 | -0.3% | -8.5% |
| 2026 | -12.9% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOW and USO good diversifiers for each other?
Yes. With a correlation of -0.28, LOW and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LOW and USO?
As of 2026-08-27, the correlation of weekly returns between LOW and USO is -0.28 over 3 years, -0.39 over 1 year and -0.13 over 5 years.
Is USO a good diversifier for LOW?
Yes. With a correlation of -0.28, LOW and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/low-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/low-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LOW correlations · USO correlations
