AEP vs OGE: Correlation
Measured on weekly returns over the past three years, American Electric Power (AEP) and OGE Energy Corp (OGE) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and OGE?
On 3 years of weekly data the AEP/OGE correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 248.5 %².
By 3-year correlation, OGE places #5 of the 36 assets tracked against AEP. On 12-month performance AEP holds a 6.6-point edge, +12.1% against +5.5%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AEP vs OGE: side by side
| AEP (American Electric Power) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +12.1% | +5.5% |
| 5-year return | +63.9% | +60.6% |
| Volatility (ann.) | 18.9% | 17.6% |
| Beta vs S&P 500 | -0.01 | 0.20 |
| Max drawdown (3Y) | -13.1% | -11.3% |
| Market cap | $66.8B | $9.5B |
| P/E (trailing) | 21.4 | 20.4 |
| Dividend yield | 3.06% | 3.64% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AEP | OGE |
|---|---|---|
| 2022 | +10.4% | +7.6% |
| 2023 | -11.0% | -7.5% |
| 2024 | +18.2% | +23.7% |
| 2025 | +29.4% | +7.6% |
| 2026 | +8.9% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and OGE good diversifiers for each other?
Only partially. A correlation of 0.75 means AEP and OGE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AEP and OGE?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.82 over the last year and 0.81 over 5 years.
Is OGE a good diversifier for AEP?
Only partially. A correlation of 0.75 means AEP and OGE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aep-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aep-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEP correlations · OGE correlations
