OGE Energy Correlations

OGE Stock

USD 43.65 0.34 0.79%

The current 90-days correlation between OGE Energy and CMS Energy is 0.73 (i.e., Poor 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

Very good diversification

The correlation between OGE Energy and DJI is -0.43 (i.e., Very good 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.

Build AI portfolio with OGE Stock

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

0.77	EVRG	Evergy	Pair Corr
0.87	LNT	Alliant Energy Corp	Pair Corr
0.61	CMSA	CMS Energy Corp	Pair Corr

Moving against OGE Stock

0.55	EBR-B	Centrais Eltricas	Pair Corr
0.49	TXNM	TXNM Energy	Pair Corr
0.43	CUP-U	Caribbean Utilities Earnings Call This Week	Pair Corr
0.41	AQNB	Algonquin Power Utilities	Pair Corr
0.52	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.5	PPERY	Bank Mandiri Persero Earnings Call Today	Pair Corr
0.37	CNL	Collective Mining	Pair Corr
0.73	CRH	CRH PLC ADR	Pair Corr
0.53	BNKHF	BOC Hong Kong	Pair Corr
0.42	NEWTH	NewtekOne 8625 percent	Pair Corr
0.42	KCDMY	Kimberly Clark de	Pair Corr

Related Correlations Analysis

	ED	WEC	PEG	DTE	AEE	FE	ETR	FTS	PPL	CMS
ED		0.4	0.15	0.47	0.5	0.66	0.37	0.82	0.49	0.04	ED
WEC	0.4		0.64	0.9	0.85	0.82	0.82	0.26	0.82	0.83	WEC
PEG	0.15	0.64		0.54	0.52	0.46	0.57	0.19	0.54	0.69	PEG
DTE	0.47	0.9	0.54		0.85	0.84	0.82	0.28	0.86	0.78	DTE
AEE	0.5	0.85	0.52	0.85		0.88	0.69	0.52	0.8	0.75	AEE
FE	0.66	0.82	0.46	0.84	0.88		0.76	0.54	0.82	0.64	FE
ETR	0.37	0.82	0.57	0.82	0.69	0.76		0.22	0.7	0.66	ETR
FTS	0.82	0.26	0.19	0.28	0.52	0.54	0.22		0.29	0.04	FTS
PPL	0.49	0.82	0.54	0.86	0.8	0.82	0.7	0.29		0.63	PPL
CMS	0.04	0.83	0.69	0.78	0.75	0.64	0.66	0.04	0.63		CMS
	ED	WEC	PEG	DTE	AEE	FE	ETR	FTS	PPL	CMS

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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
ED	0.86	0.18	0.10	(0.45)	0.95	(0.91)	1.91	(1.65)	4.62
WEC	0.63	0.01	(0.05)	1.04	0.80	(0.64)	1.14	(1.14)	4.32
PEG	0.82	0.00	(0.05)	0.23	1.13	(0.83)	1.61	(2.04)	5.67
DTE	0.74	(0.03)	0.00	(0.06)	0.00	0.00	1.45	(1.74)	4.73
AEE	0.72	0.03	(0.02)	(1.15)	0.96	(0.70)	1.23	(1.45)	5.74
FE	0.67	0.02	(0.04)	(0.21)	0.91	(0.62)	1.35	(1.30)	4.05
ETR	0.85	(0.01)	(0.03)	0.04	1.10	(0.88)	1.90	(1.73)	4.90
FTS	0.66	0.12	0.10	(2.46)	0.51	(0.83)	1.38	(1.16)	2.88
PPL	0.81	(0.07)	0.00	(0.42)	0.00	0.00	1.57	(1.61)	4.62
CMS	0.75	(0.04)	0.00	(0.13)	0.00	0.00	1.31	(1.44)	5.00

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