SNN vs USO: Correlation
Measured on weekly returns over the past three years, Smith & Nephew SNATS, Inc. (SNN) 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 SNN and USO?
Across a 3-year window, the weekly returns of SNN and USO correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Stretching to 5 years gives -0.20, with an annualized covariance of -278.7 %².
Among the 14 assets we track against SNN, USO sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with USO ahead by 94.1 points (-20.0% versus +74.1%).
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.
SNN vs USO: side by side
| SNN (Smith & Nephew SNATS, Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -20.0% | +74.1% |
| 5-year return | -13.6% | +168.6% |
| Volatility (ann.) | 26.3% | 39.4% |
| Beta vs S&P 500 | 0.60 | -0.20 |
| Max drawdown (3Y) | -24.0% | -32.5% |
| Market cap | $12.2B | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 1.35% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | SNN | USO |
|---|---|---|
| 2022 | -20.2% | +29.0% |
| 2023 | +4.4% | -4.9% |
| 2024 | -7.3% | +13.4% |
| 2025 | +36.8% | -8.5% |
| 2026 | -9.9% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNN 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 SNN and USO?
The SNN/USO correlation stands at -0.27 on a 3-year window (1 year: -0.31, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for SNN?
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/snn-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snn-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SNN correlations · USO correlations
