SLGN vs USO: Correlation
How closely do Silgan Holdings Inc. (SLGN) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLGN and USO?
On 3 years of weekly data the SLGN/USO correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.10, and annualized covariance runs at -272.0 %².
USO is close to the least connected end of SLGN's tracked universe, ranking #25 of 26. The last year tells two different stories: USO led by 82.0 percentage points, -7.9% for SLGN 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.
SLGN vs USO: side by side
| SLGN (Silgan Holdings Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -7.9% | +74.1% |
| 5-year return | +5.9% | +168.6% |
| Volatility (ann.) | 29.4% | 39.4% |
| Beta vs S&P 500 | 0.58 | -0.20 |
| Max drawdown (3Y) | -35.0% | -32.5% |
| Market cap | $4.4B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 1.91% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | SLGN | USO |
|---|---|---|
| 2022 | +22.7% | +29.0% |
| 2023 | -11.3% | -4.9% |
| 2024 | +16.8% | +13.4% |
| 2025 | -21.1% | -8.5% |
| 2026 | +4.8% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLGN and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between SLGN and USO?
The SLGN/USO correlation stands at -0.23 on a 3-year window (1 year: -0.33, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for SLGN?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/slgn-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/slgn-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SLGN correlations · USO correlations
