OGE Energy Correlations

OGE Stock

USD 48.41 0.02 0.04%

The current 90-days correlation between OGE Energy and Pinnacle West Capital is 0.76 (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

Modest diversification

The correlation between OGE Energy and DJI is 0.23 (i.e., Modest 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 census.

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

Moving together with OGE Stock

0.62	ES	Eversource Energy	Pair Corr
0.94	FE	FirstEnergy	Pair Corr
0.65	GZF	Engie SA Earnings Call Today	Pair Corr
0.95	SO	Southern	Pair Corr
0.63	JEL	Jersey Electricity plc	Pair Corr
0.88	BIP-UN	Brookfield Infrastructure	Pair Corr
0.7	ENAA	ENDESA ADR 12	Pair Corr
0.66	MVV1	MVV Energie AG	Pair Corr
0.8	ELPC	Companhia Paranaense Earnings Call Today	Pair Corr
0.94	EVRG	Evergy	Pair Corr
0.69	CLP1	CLP HLDGS LTD Earnings Call Today	Pair Corr
0.74	ENA	Endesa SA	Pair Corr
0.98	AEP	American Electric Power	Pair Corr
0.76	CIG	Companhia Energetica	Pair Corr
0.7	DTW	DTE Energy	Pair Corr
0.95	DUK	Duke Energy	Pair Corr
0.86	EIX	Edison International Sell-off Trend	Pair Corr
0.63	ELC	Entergy Louisiana LLC	Pair Corr
0.71	EMA	Emera Incorporated	Pair Corr
0.66	EMP	Entergy Mississippi LLC	Pair Corr
0.95	ETR	Entergy	Pair Corr
0.94	EXC	Exelon	Pair Corr
0.89	FTS	Fortis Inc	Pair Corr
0.69	SCTA	SSE PLC ADR	Pair Corr
0.89	IDA	IDACORP	Pair Corr
0.95	FTS	Fortis Inc	Pair Corr
0.64	KEP	Korea Electric Power Earnings Call Today	Pair Corr

Moving against OGE Stock

0.61	VGAS	Verde Clean Fuels	Pair Corr
0.42	CEG	Constellation Energy Corp	Pair Corr
0.38	EDN	Empresa Distribuidora	Pair Corr
0.49	PAM	Pampa Energia SA Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PNW	CMS	IDA	WTRG	PCG	AES	UGI	POR	TXNM
PNW		0.7	0.98	0.43	0.78	0.89	0.25	0.96	0.74	PNW
CMS	0.7		0.73	0.48	0.72	0.58	-0.01	0.77	0.15	CMS
IDA	0.98	0.73		0.45	0.8	0.88	0.22	0.96	0.73	IDA
WTRG	0.43	0.48	0.45		0.39	0.08	0.07	0.46	0.15	WTRG
PCG	0.78	0.72	0.8	0.39		0.78	-0.08	0.77	0.54	PCG
AES	0.89	0.58	0.88	0.08	0.78		0.24	0.85	0.76	AES
UGI	0.25	-0.01	0.22	0.07	-0.08	0.24		0.25	0.38	UGI
POR	0.96	0.77	0.96	0.46	0.77	0.85	0.25		0.63	POR
TXNM	0.74	0.15	0.73	0.15	0.54	0.76	0.38	0.63		TXNM
	PNW	CMS	IDA	WTRG	PCG	AES	UGI	POR	TXNM

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

IDA	+ 0.98	PNW
POR	+ 0.96	PNW
POR	+ 0.96	IDA
AES	+ 0.89	PNW
AES	+ 0.88	IDA
POR	+ 0.85	AES

High negative correlations

UGI	- 0.08	PCG
UGI	- 0.01	CMS

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
PNW	0.81	0.21	0.10	(1.03)	0.71	(0.89)	2.10	(1.36)	3.83
CMS	0.76	0.05	(0.04)	0.52	1.01	(0.74)	1.32	(1.36)	3.92
IDA	0.85	0.19	0.08	(3.72)	0.91	(0.91)	2.15	(1.51)	5.11
WTRG	1.05	0.08	(0.02)	(1.22)	1.10	(1.20)	2.16	(1.93)	6.71
PCG	1.23	0.27	0.12	(14.03)	1.25	(1.39)	2.69	(2.20)	6.66
AES	1.40	0.20	0.12	0.32	1.29	(1.53)	3.11	(2.11)	11.35
UGI	1.02	0.06	0.01	0.20	1.47	(1.08)	2.42	(1.96)	13.41
POR	0.87	0.18	0.05	(0.58)	0.92	(0.95)	2.18	(1.84)	5.86
TXNM	0.19	0.04	(0.23)	2.47	0.00	(0.23)	0.51	(0.31)	1.28

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