OGE Energy Correlations

OGE Stock

USD 40.96 0.44 1.09%

The current 90-days correlation between OGE Energy and Alliant Energy Corp is -0.04 (i.e., Good diversification). The correlation of OGE Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

OGE Energy Correlation With Market

Weak diversification

The correlation between OGE Energy and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OGE Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OGE Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For information on how to trade OGE Stock refer to our How to Trade OGE Stock guide.

Moving together with OGE Stock

0.93	EVRG	Evergy,	Pair Corr
0.91	AEE	Ameren Corp	Pair Corr
0.75	AGR	Avangrid	Pair Corr
0.77	CNP	CenterPoint Energy	Pair Corr
0.67	EDN	Empresa Distribuidora	Pair Corr
0.81	ETR	Entergy	Pair Corr
0.92	IDA	IDACORP	Pair Corr
0.61	LNT	Alliant Energy Corp	Pair Corr
0.72	PCG	PGE Corp	Pair Corr
0.83	PNW	Pinnacle West Capital	Pair Corr
0.88	PPL	PPL Corporation	Pair Corr
0.88	TLN	Talen Energy	Pair Corr
0.74	WEC	WEC Energy Group	Pair Corr
0.9	XEL	Xcel Energy Fiscal Year End 23rd of January 2025	Pair Corr

Moving against OGE Stock

0.6	CMS-PB	Consumers Energy	Pair Corr
0.52	CMS-PC	CMS Energy	Pair Corr
0.44	ES	Eversource Energy	Pair Corr
0.43	ED	Consolidated Edison	Pair Corr
0.39	DTE	DTE Energy	Pair Corr
0.35	FE	FirstEnergy	Pair Corr
0.55	NEE	Nextera Energy Fiscal Year End 23rd of January 2025	Pair Corr
0.51	NGG	National Grid PLC	Pair Corr
0.35	GNE	Genie Energy	Pair Corr
0.32	EXC	Exelon	Pair Corr
0.45	SCE-PN	SCE Trust VIII	Pair Corr
0.39	PCG-PH	Pacific Gas	Pair Corr

Related Correlations Analysis

	LNT	CMS	CNP	PNW	AEE	ETR	EVRG	PNM	POR	MGEE
LNT		0.31	0.58	0.63	0.74	0.39	0.72	0.22	0.4	0.57	LNT
CMS	0.31		-0.3	-0.06	-0.24	-0.53	-0.13	-0.47	0.75	-0.38	CMS
CNP	0.58	-0.3		0.46	0.83	0.8	0.73	0.79	-0.37	0.72	CNP
PNW	0.63	-0.06	0.46		0.79	0.61	0.86	0.08	0.26	0.79	PNW
AEE	0.74	-0.24	0.83	0.79		0.84	0.85	0.59	-0.03	0.88	AEE
ETR	0.39	-0.53	0.8	0.61	0.84		0.73	0.71	-0.36	0.81	ETR
EVRG	0.72	-0.13	0.73	0.86	0.85	0.73		0.32	-0.01	0.88	EVRG
PNM	0.22	-0.47	0.79	0.08	0.59	0.71	0.32		-0.49	0.49	PNM
POR	0.4	0.75	-0.37	0.26	-0.03	-0.36	-0.01	-0.49		-0.17	POR
MGEE	0.57	-0.38	0.72	0.79	0.88	0.81	0.88	0.49	-0.17		MGEE
	LNT	CMS	CNP	PNW	AEE	ETR	EVRG	PNM	POR	MGEE

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MGEE	+ 0.88	AEE
MGEE	+ 0.88	EVRG
EVRG	+ 0.86	PNW
EVRG	+ 0.85	AEE
ETR	+ 0.84	AEE
AEE	+ 0.83	CNP

High negative correlations

ETR	- 0.53	CMS
POR	- 0.49	PNM
PNM	- 0.47	CMS
MGEE	- 0.38	CMS
POR	- 0.37	CNP
POR	- 0.36	ETR

Risk-Adjusted Indicators

There is a big difference between OGE Stock performing well and OGE Energy Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze OGE Energy's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LNT	0.91	(0.02)	0.00	(0.04)	0.00	0.00	2.04	(1.93)	6.14
CMS	0.73	(0.09)	0.00	(1.96)	0.00	0.00	1.23	(1.88)	3.89
CNP	0.90	0.17	0.13	0.32	1.00	(0.95)	1.80	(1.77)	5.92
PNW	0.89	(0.07)	0.00	(0.09)	0.00	0.00	1.99	(1.74)	6.31
AEE	0.86	0.10	0.09	0.29	0.82	(0.99)	1.91	(1.60)	6.19
ETR	1.07	0.29	0.16	(14.94)	1.23	(1.19)	2.06	(1.63)	21.63
EVRG	0.66	(0.02)	0.00	(0.05)	0.00	0.00	1.36	(1.42)	3.76
PNM	0.77	0.29	0.27	(15.94)	0.66	(0.97)	1.80	(1.13)	7.12
POR	0.76	(0.13)	0.00	(0.28)	0.00	0.00	1.49	(1.78)	5.04
MGEE	1.15	0.05	0.03	0.17	1.23	(1.29)	2.79	(2.14)	10.15

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