ATMP vs OKE: Correlation
Measured on weekly returns over the past three years, iPath Select MLP ETN (ATMP) and Oneok (OKE) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and OKE?
On 3 years of weekly data the ATMP/OKE correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.89 over 1 year against 0.85 over 3. The 5-year figure is 0.82, and annualized covariance runs at 415.6 %².
Among the 37 assets we track against ATMP, OKE ranks #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +34.4% for ATMP and +33.0% for OKE. Note the risk asymmetry: OKE runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ATMP vs OKE: side by side
| ATMP (iPath Select MLP ETN) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +34.4% | +33.0% |
| 5-year return | +216.1% | +134.0% |
| Volatility (ann.) | 17.0% | 28.7% |
| Beta vs S&P 500 | 0.28 | 0.42 |
| Max drawdown (3Y) | -15.6% | -42.2% |
| Market cap | – | $59.7B |
| P/E (trailing) | – | 16.4 |
| Dividend yield | 0.00% | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ATMP | OKE |
|---|---|---|
| 2022 | +27.5% | +18.9% |
| 2023 | +21.6% | +13.2% |
| 2024 | +38.7% | +50.1% |
| 2025 | +7.0% | -22.9% |
| 2026 | +32.0% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and OKE good diversifiers for each other?
No. With a correlation of 0.85, ATMP and OKE move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ATMP and OKE?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.89 over the last year and 0.82 over 5 years.
Is OKE a good diversifier for ATMP?
No. With a correlation of 0.85, ATMP and OKE move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
A reading of 0.85 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/atmp-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/atmp-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATMP correlations · OKE correlations
