MTH vs USO: Correlation
How closely do Meritage Homes Corporation (MTH) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTH and USO?
On 3 years of weekly data the MTH/USO correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.26). The 5-year figure is -0.13, and annualized covariance runs at -398.9 %².
Out of 35 assets tracked against MTH, USO lands near the bottom at #33. Their recent paths diverged sharply: over the last 12 months USO outperformed by 81.1 percentage points (-7.0% for MTH 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.
MTH vs USO: side by side
| MTH (Meritage Homes Corporation) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -7.0% | +74.1% |
| 5-year return | +34.0% | +168.6% |
| Volatility (ann.) | 39.0% | 39.4% |
| Beta vs S&P 500 | 0.90 | -0.20 |
| Max drawdown (3Y) | -43.0% | -32.5% |
| Market cap | $4.6B | – |
| P/E (trailing) | 15.0 | – |
| Dividend yield | 2.52% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | MTH | USO |
|---|---|---|
| 2022 | -24.5% | +29.0% |
| 2023 | +90.5% | -4.9% |
| 2024 | -10.2% | +13.4% |
| 2025 | -12.3% | -8.5% |
| 2026 | +8.7% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTH and USO good diversifiers for each other?
Yes. With a correlation of -0.26, MTH and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MTH and USO?
As of 2026-08-27, the correlation of weekly returns between MTH and USO is -0.26 over 3 years, -0.45 over 1 year and -0.13 over 5 years.
Is USO a good diversifier for MTH?
Yes. With a correlation of -0.26, MTH and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mth-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mth-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTH correlations · USO correlations
