PH vs USO: Correlation
How closely do Parker Hannifin (PH) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PH and USO?
Over the past 3 years, PH and USO moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.21 over 3 years. Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -220.5 %².
Out of 57 assets tracked against PH, USO lands near the bottom at #54. Correlation aside, the last 12 months split them widely, with USO ahead by 41.3 points (+32.8% versus +74.1%). This link changes with the market regime, having swung between -0.52 and 0.30 on a rolling one-year basis.
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.
PH vs USO: side by side
| PH (Parker Hannifin) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +32.8% | +74.1% |
| 5-year return | +256.4% | +168.6% |
| Volatility (ann.) | 26.6% | 39.4% |
| Beta vs S&P 500 | 1.16 | -0.20 |
| Max drawdown (3Y) | -26.8% | -32.5% |
| Market cap | $127.5B | – |
| P/E (trailing) | 36.5 | – |
| Dividend yield | 0.71% | – |
| Sector / category | Industrials | ETF · Commodities |
Year-by-year returns
| Year | PH | USO |
|---|---|---|
| 2022 | -6.9% | +29.0% |
| 2023 | +60.8% | -4.9% |
| 2024 | +39.6% | +13.4% |
| 2025 | +39.5% | -8.5% |
| 2026 | +15.5% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PH and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between PH and USO?
The PH/USO correlation stands at -0.21 on a 3-year window (1 year: -0.46, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for PH?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/ph-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ph-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PH correlations · USO correlations
