USO vs VMC: Correlation
Measured on weekly returns over the past three years, United States Oil Fund (USO) and Vulcan Materials Company (VMC) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are USO and VMC?
On 3 years of weekly data the USO/VMC correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.33 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -325.1 %².
Among the 165 assets we track against USO, VMC ranks #150 by 3-year correlation. Correlation aside, the last 12 months split them widely, with USO ahead by 79.3 points (+74.1% versus -5.2%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.61 and 0.08 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: USO runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
USO vs VMC: side by side
| USO (United States Oil Fund) | VMC (Vulcan Materials Company) | |
|---|---|---|
| 1-year return | +74.1% | -5.2% |
| 5-year return | +168.6% | +53.2% |
| Volatility (ann.) | 39.4% | 25.2% |
| Beta vs S&P 500 | -0.20 | 0.82 |
| Max drawdown (3Y) | -32.5% | -24.4% |
| Market cap | – | $35.5B |
| P/E (trailing) | – | 32.3 |
| Dividend yield | – | 0.74% |
| Sector / category | ETF · Commodities | Materials |
Year-by-year returns
| Year | USO | VMC |
|---|---|---|
| 2022 | +29.0% | -14.9% |
| 2023 | -4.9% | +30.8% |
| 2024 | +13.4% | +14.1% |
| 2025 | -8.5% | +11.7% |
| 2026 | +88.0% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are USO and VMC good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between USO and VMC?
As of 2026-08-27, the correlation of weekly returns between USO and VMC is -0.33 over 3 years, -0.50 over 1 year and -0.18 over 5 years.
Is VMC a good diversifier for USO?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/uso-vs-vmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/uso-vs-vmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: USO correlations · VMC correlations
