UPS vs USB: Correlation
Measured on weekly returns over the past three years, United Parcel Service (UPS) and U.S. Bancorp (USB) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UPS and USB?
Over the past 3 years, UPS and USB moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 406.7 %².
Among the 34 assets we track against UPS, USB ranks #14 by 3-year correlation. Neither side won the trailing year by much: +28.2% against +33.1%. Across three years, the rolling one-year figure varied moderately, from 0.28 to 0.62.
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.
UPS vs USB: side by side
| UPS (United Parcel Service) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +28.2% | +33.1% |
| 5-year return | -31.0% | +36.0% |
| Volatility (ann.) | 29.4% | 27.3% |
| Beta vs S&P 500 | 0.81 | 1.09 |
| Max drawdown (3Y) | -46.5% | -30.6% |
| Market cap | $89.9B | $97.2B |
| P/E (trailing) | 19.6 | 12.5 |
| Dividend yield | 6.21% | 3.31% |
| Sector / category | Industrials | Financials |
Year-by-year returns
| Year | UPS | USB |
|---|---|---|
| 2022 | -16.2% | -19.1% |
| 2023 | -6.0% | +4.8% |
| 2024 | -15.9% | +15.6% |
| 2025 | -15.9% | +16.5% |
| 2026 | +11.6% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UPS and USB good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between UPS and USB?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.44 over the last year and 0.45 over 5 years.
Is USB a good diversifier for UPS?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
A reading of 0.51 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/ups-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ups-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UPS correlations · USB correlations
