United States Gasoline Fund, LP (UGA) — Stock Correlations & Overview
Over the past year, UGA has moved most closely with DBE, BNO, GSG. Explore the stocks most correlated and inversely correlated with UGA below, along with its price, financials, and company profile.
Stocks correlated with UGA
Correlation of daily returns. Higher positive values move with UGA; negative values move opposite it. Informational only, not investment advice.
Most correlated with UGA
| Symbol | Company | Correlation |
|---|---|---|
| DBE | Invesco DB Energy FundCOMMODITY CONTRACTS BROKERS & DEALERS | 0.89 |
| BNO | United States Brent Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.88 |
| GSG | iShares S&P GSCI Commodity-Indexed TrustCOMMODITY CONTRACTS BROKERS & DEALERS | 0.88 |
| USO | United States Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.87 |
| UCO | ProShares Ultra Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | 0.86 |
Most inversely correlated with UGA
| Symbol | Company | Correlation |
|---|---|---|
| SCO | ProShares UltraShort Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | -0.86 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.67 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.67 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.64 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.60 |
Frequently asked questions about UGA correlations
- Which stocks are most correlated with UGA?
- Based on one year of daily returns, the stocks most correlated with United States Gasoline Fund, LP (UGA) are DBE (0.89), BNO (0.88) and GSG (0.88). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with UGA?
- Over the past year, the stocks most inversely correlated with United States Gasoline Fund, LP (UGA) are SCO (-0.86), NRGD (-0.67) and DRIP (-0.67). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these UGA correlations calculated?
- We compute the correlation of daily returns between UGA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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