CBL vs. USO
CBL (CBL & Associates Properties, Inc.) is a stock, while USO (United States Oil Fund LP) is Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Over the past 3 years, CBL returned 35.18%/yr vs 21.31%/yr for USO. At a 0.02 correlation, their price movements are largely independent.
Performance
CBL vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, CBL achieves a 31.84% return, which is significantly lower than USO's 66.09% return.
CBL
- 1D
- 0.34%
- 1M
- 0.59%
- YTD
- 31.84%
- 6M
- 31.52%
- 1Y
- 94.51%
- 3Y*
- 35.18%
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- 0.56%
- 1M
- -20.38%
- YTD
- 66.09%
- 6M
- 68.85%
- 1Y
- 39.63%
- 3Y*
- 21.31%
- 5Y*
- 18.89%
- 10Y*
- 1.89%
CBL vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CBL CBL & Associates Properties, Inc. | 31.84% | 37.21% | 28.52% | 12.96% | -17.96% | 18.86% |
USO United States Oil Fund LP | 66.09% | -8.46% | 13.35% | -4.94% | 28.97% | -5.51% |
Correlation
The correlation between CBL and USO is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.02 |
The correlation between CBL and USO shifts across timeframes, from -0.16 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CBL vs. USO — Risk / Return Rank
CBL
USO
CBL vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CBL & Associates Properties, Inc. (CBL) and United States Oil Fund LP (USO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CBL | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.19 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 7.68 | 1.57 | +6.11 |
| Martin ratioReturn relative to average drawdown | 25.80 | 3.47 | +22.33 |
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Drawdowns
CBL vs. USO - Drawdown Comparison
The maximum CBL drawdown since its inception was -34.02%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CBL and USO.
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Drawdown Indicators
| CBL | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.02% | -98.19% | +64.17% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -25.32% | +13.01% |
Max Drawdown (3Y)Largest decline over 3 years | -29.14% | -26.05% | -3.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -4.63% | -87.78% | +83.15% |
Average DrawdownAverage peak-to-trough decline | -12.38% | -75.31% | +62.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 11.47% | -7.81% |
Volatility
CBL vs. USO - Volatility Comparison
The current volatility for CBL & Associates Properties, Inc. (CBL) is 7.90%, while United States Oil Fund LP (USO) has a volatility of 12.67%. This indicates that CBL experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBL | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.90% | 12.67% | -4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 39.34% | -19.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.79% | 44.29% | -17.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.30% | 36.30% | -4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.30% | 39.04% | -6.74% |
Dividends
CBL vs. USO - Dividend Comparison
CBL's dividend yield for the trailing twelve months is around 4.54%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBL CBL & Associates Properties, Inc. | 4.54% | 6.76% | 5.44% | 6.14% | 12.78% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBL and USO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (12.67%) compared to CBL (7.90%). In terms of maximum drawdown, CBL dropped -34.02% vs USO's -98.19%.
CBL currently has the higher Sharpe Ratio (3.54 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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