PG vs USO: Correlation
Measured on weekly returns over the past three years, Procter & Gamble (PG) and United States Oil Fund (USO) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PG and USO?
Over the past 3 years, PG and USO moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.26). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -156.0 %².
Out of 30 assets tracked against PG, USO lands near the bottom at #30. Their recent paths diverged sharply: over the last 12 months USO outperformed by 80.2 percentage points (-6.1% for PG against +74.1% for USO). The relationship is regime-dependent: the rolling one-year correlation swung between -0.47 and 0.13 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: USO runs 2.6 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.
PG vs USO: side by side
| PG (Procter & Gamble) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -6.1% | +74.1% |
| 5-year return | +13.9% | +168.6% |
| Volatility (ann.) | 15.3% | 39.4% |
| Beta vs S&P 500 | 0.19 | -0.20 |
| Max drawdown (3Y) | -21.2% | -32.5% |
| Market cap | $332.7B | – |
| P/E (trailing) | 21.9 | – |
| Dividend yield | 2.94% | – |
| Sector / category | Consumer Staples | ETF · Commodities |
Year-by-year returns
| Year | PG | USO |
|---|---|---|
| 2022 | -5.0% | +29.0% |
| 2023 | -0.9% | -4.9% |
| 2024 | +17.3% | +13.4% |
| 2025 | -12.3% | -8.5% |
| 2026 | +2.1% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PG and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between PG and USO?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.37 over the last year and -0.18 over 5 years.
Is USO a good diversifier for PG?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/pg-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pg-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PG correlations · USO correlations
