OTIS vs USO: Correlation
Otis Worldwide (OTIS) and United States Oil Fund (USO) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTIS and USO?
On 3 years of weekly data the OTIS/USO correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.25 over 3 years. The 5-year figure is -0.06, and annualized covariance runs at -186.7 %².
USO is close to the least connected end of OTIS's tracked universe, ranking #28 of 31. Correlation aside, the last 12 months split them widely, with USO ahead by 90.9 points (-16.8% versus +74.1%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.40 and 0.14 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: USO runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OTIS vs USO: side by side
| OTIS (Otis Worldwide) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -16.8% | +74.1% |
| 5-year return | -15.9% | +168.6% |
| Volatility (ann.) | 19.1% | 39.4% |
| Beta vs S&P 500 | 0.59 | -0.20 |
| Max drawdown (3Y) | -32.4% | -32.5% |
| Market cap | $27.2B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 2.35% | – |
| Sector / category | Industrials | ETF · Commodities |
Year-by-year returns
| Year | OTIS | USO |
|---|---|---|
| 2022 | -8.8% | +29.0% |
| 2023 | +16.0% | -4.9% |
| 2024 | +5.2% | +13.4% |
| 2025 | -4.0% | -8.5% |
| 2026 | -16.8% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTIS and USO good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OTIS and USO?
As of 2026-08-27, the correlation of weekly returns between OTIS and USO is -0.25 over 3 years, -0.42 over 1 year and -0.06 over 5 years.
Is USO a good diversifier for OTIS?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/otis-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/otis-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OTIS correlations · USO correlations
