MIDD vs USO: Correlation
How closely do The Middleby Corporation (MIDD) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIDD and USO?
Over the past 3 years, MIDD and USO moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.53) than the 3-year average (-0.31). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -433.1 %².
USO is close to the least connected end of MIDD's tracked universe, ranking #11 of 13. The last year tells two different stories: USO led by 71.6 percentage points, +2.5% for MIDD against +74.1% for USO.
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.
MIDD vs USO: side by side
| MIDD (The Middleby Corporation) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +2.5% | +74.1% |
| 5-year return | -24.2% | +168.6% |
| Volatility (ann.) | 36.0% | 39.4% |
| Beta vs S&P 500 | 1.04 | -0.20 |
| Max drawdown (3Y) | -35.4% | -32.5% |
| Market cap | $5.1B | – |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | MIDD | USO |
|---|---|---|
| 2022 | -31.9% | +29.0% |
| 2023 | +9.9% | -4.9% |
| 2024 | -8.0% | +13.4% |
| 2025 | +9.8% | -8.5% |
| 2026 | -5.0% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIDD and USO good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MIDD and USO?
The MIDD/USO correlation stands at -0.31 on a 3-year window (1 year: -0.53, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for MIDD?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
A reading of -0.31 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/midd-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/midd-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MIDD correlations · USO correlations
