TPB vs USO: Correlation
How closely do Turning Point Brands, Inc. (TPB) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPB and USO?
Over the past 3 years, TPB and USO moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.61) than the 3-year average (-0.41). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -714.0 %².
Among the 15 assets we track against TPB, USO sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with USO ahead by 88.3 points (-14.2% 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.
TPB vs USO: side by side
| TPB (Turning Point Brands, Inc.) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | -14.2% | +74.1% |
| 5-year return | +74.4% | +168.6% |
| Volatility (ann.) | 44.7% | 39.4% |
| Beta vs S&P 500 | 0.76 | -0.20 |
| Max drawdown (3Y) | -50.6% | -32.5% |
| Market cap | $1.7B | – |
| P/E (trailing) | 38.3 | – |
| Dividend yield | 0.35% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | TPB | USO |
|---|---|---|
| 2022 | -42.2% | +29.0% |
| 2023 | +23.1% | -4.9% |
| 2024 | +130.1% | +13.4% |
| 2025 | +81.0% | -8.5% |
| 2026 | -22.1% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPB and USO good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TPB and USO?
The TPB/USO correlation stands at -0.41 on a 3-year window (1 year: -0.61, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is USO a good diversifier for TPB?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
A reading of -0.41 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/tpb-vs-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tpb-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TPB correlations · USO correlations
