SPY vs USO – daily direction

I was curious about how often the direction (ignoring magnitude) was the same for USO vs SPY, using data from Yahoo!.  The chart below indicates, over a 10 day period, how often the two moved together.  The first set of data is the last 2500 days, second set tries to eliminate  overlaps and takes the every 10th data point, and the last column looks a back over the last 25o trading days (about 1 year).  For example, the direction (either up or down) being the same six times in the past 10 days happens about 21% of the time.  Overall there is a slight bias to going in the same direction.

DAYS 2500 2500 (EVERY 10) LAST 250
1 0.35% 0.00% 0.00%
2 1.60% 1.50% 2.40%
3 3.45% 3.50% 2.80%
4 7.90% 8.00% 8.40%
5 12.40% 11.00% 8.40%
6 21.05% 24.50% 18.80%
7 25.20% 23.00% 27.60%
8 20.00% 21.00% 24.80%
9 6.85% 7.00% 4.00%
10 1.15% 0.50% 1.60%

spy vs uso

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