BKH vs OGE: Correlation
Measured on weekly returns over the past three years, Black Hills Corporation (BKH) and OGE Energy Corp (OGE) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKH and OGE?
Across a 3-year window, the weekly returns of BKH and OGE correlate at 0.72, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 269.7 %².
In BKH's tracked universe of 13 assets, OGE sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months BKH outperformed by 21.0 percentage points (+26.5% for BKH against +5.5% for OGE).
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.
BKH vs OGE: side by side
| BKH (Black Hills Corporation) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +26.5% | +5.5% |
| 5-year return | +27.4% | +60.6% |
| Volatility (ann.) | 21.5% | 17.6% |
| Beta vs S&P 500 | 0.32 | 0.20 |
| Max drawdown (3Y) | -14.1% | -11.3% |
| Market cap | $5.6B | $9.5B |
| P/E (trailing) | 18.5 | 20.4 |
| Dividend yield | 3.74% | 3.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKH | OGE |
|---|---|---|
| 2022 | +3.1% | +7.6% |
| 2023 | -19.9% | -7.5% |
| 2024 | +13.6% | +23.7% |
| 2025 | +23.9% | +7.6% |
| 2026 | +8.8% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKH and OGE good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BKH and OGE?
As of 2026-08-27, the correlation of weekly returns between BKH and OGE is 0.72 over 3 years, 0.62 over 1 year and 0.75 over 5 years.
Is OGE a good diversifier for BKH?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
A reading of 0.72 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/bkh-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkh-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKH correlations · OGE correlations
