TECH vs USO: Correlation
How closely do Bio-Techne (TECH) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and USO?
Across a 3-year window, the weekly returns of TECH and USO correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.20). Stretching to 5 years gives -0.08, with an annualized covariance of -328.4 %².
Among the 39 assets we track against TECH, USO sits near the bottom by co-movement, at rank #37. Their recent paths diverged sharply: over the last 12 months USO outperformed by 44.5 percentage points (+29.6% for TECH against +74.1% for USO). The relationship is regime-dependent: the rolling one-year correlation swung between -0.40 and 0.25 over the past three years, so this pair behaves very differently depending on the market environment.
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.
TECH vs USO: side by side
| TECH (Bio-Techne) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +29.6% | +74.1% |
| 5-year return | -41.4% | +168.6% |
| Volatility (ann.) | 41.9% | 39.4% |
| Beta vs S&P 500 | 0.90 | -0.20 |
| Max drawdown (3Y) | -48.1% | -32.5% |
| Market cap | $11.4B | – |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.44% | – |
| Sector / category | Health Care | ETF · Commodities |
Year-by-year returns
| Year | TECH | USO |
|---|---|---|
| 2022 | -35.7% | +29.0% |
| 2023 | -6.5% | -4.9% |
| 2024 | -6.2% | +13.4% |
| 2025 | -17.9% | -8.5% |
| 2026 | +23.8% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and USO good diversifiers for each other?
Yes. With a correlation of -0.20, TECH and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TECH and USO?
The TECH/USO correlation stands at -0.20 on a 3-year window (1 year: -0.40, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for TECH?
Yes. With a correlation of -0.20, TECH and USO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tech-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tech-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TECH correlations · USO correlations
