OWLT vs USO: Correlation
Measured on weekly returns over the past three years, Owlet, Inc. (OWLT) and United States Oil Fund (USO) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OWLT and USO?
Across a 3-year window, the weekly returns of OWLT and USO correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.27). Stretching to 5 years gives -0.12, with an annualized covariance of -805.0 %².
Out of 10 assets tracked against OWLT, USO lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months USO outperformed by 104.6 percentage points (-30.5% for OWLT against +74.1% for USO). Note the risk asymmetry: OWLT runs 1.9 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.
OWLT vs USO: side by side
| OWLT (Owlet, Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -30.5% | +74.1% |
| 5-year return | -94.4% | +168.6% |
| Volatility (ann.) | 75.1% | 39.4% |
| Beta vs S&P 500 | 1.79 | -0.20 |
| Max drawdown (3Y) | -73.1% | -32.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | OWLT | USO |
|---|---|---|
| 2022 | -79.1% | +29.0% |
| 2023 | -32.5% | -4.9% |
| 2024 | -15.7% | +13.4% |
| 2025 | +263.8% | -8.5% |
| 2026 | -69.1% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OWLT and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between OWLT and USO?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.50 over the last year and -0.12 over 5 years.
Is USO a good diversifier for OWLT?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/owlt-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/owlt-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OWLT correlations · USO correlations
