SNA vs USO: Correlation
Snap-on (SNA) and United States Oil Fund (USO) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNA and USO?
On 3 years of weekly data the SNA/USO correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (-0.24). The 5-year figure is -0.08, and annualized covariance runs at -196.8 %².
Out of 34 assets tracked against SNA, USO lands near the bottom at #30. Correlation aside, the last 12 months split them widely, with USO ahead by 51.0 points (+23.1% versus +74.1%). The rolling one-year correlation moved between -0.32 and 0.11 over the past three years, a moderate range. Risk is not evenly split, since USO carries 1.8 times the volatility of the other side.
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.
SNA vs USO: side by side
| SNA (Snap-on) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +23.1% | +74.1% |
| 5-year return | +99.6% | +168.6% |
| Volatility (ann.) | 21.3% | 39.4% |
| Beta vs S&P 500 | 0.70 | -0.20 |
| Max drawdown (3Y) | -20.8% | -32.5% |
| Market cap | $20.5B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 2.38% | – |
| Sector / category | Industrials | ETF · Commodities |
Year-by-year returns
| Year | SNA | USO |
|---|---|---|
| 2022 | +8.9% | +29.0% |
| 2023 | +29.7% | -4.9% |
| 2024 | +20.7% | +13.4% |
| 2025 | +4.3% | -8.5% |
| 2026 | +17.1% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNA and USO good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between SNA and USO?
The SNA/USO correlation stands at -0.24 on a 3-year window (1 year: -0.35, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for SNA?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/sna-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sna-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SNA correlations · USO correlations
