TEL vs USO: Correlation
Measured on weekly returns over the past three years, TE Connectivity (TEL) and United States Oil Fund (USO) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEL and USO?
Over the past 3 years, TEL and USO moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.18). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -202.2 %².
Among the 36 assets we track against TEL, USO sits near the bottom by co-movement, at rank #32. Their recent paths diverged sharply: over the last 12 months USO outperformed by 75.2 percentage points (-1.1% for TEL against +74.1% for USO). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.45 to 0.27.
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.
TEL vs USO: side by side
| TEL (TE Connectivity) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -1.1% | +74.1% |
| 5-year return | +43.7% | +168.6% |
| Volatility (ann.) | 28.8% | 39.4% |
| Beta vs S&P 500 | 1.32 | -0.20 |
| Max drawdown (3Y) | -22.6% | -32.5% |
| Market cap | $58.8B | – |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 1.42% | – |
| Sector / category | Information Technology | ETF · Commodities |
Year-by-year returns
| Year | TEL | USO |
|---|---|---|
| 2022 | -27.7% | +29.0% |
| 2023 | +24.6% | -4.9% |
| 2024 | +3.5% | +13.4% |
| 2025 | +61.1% | -8.5% |
| 2026 | -9.8% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEL and USO good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TEL and USO?
As of 2026-08-27, the correlation of weekly returns between TEL and USO is -0.18 over 3 years, -0.40 over 1 year and -0.09 over 5 years.
Is USO a good diversifier for TEL?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/tel-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tel-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TEL correlations · USO correlations
