CNP vs OGE: Correlation
How closely do CenterPoint Energy (CNP) and OGE Energy Corp (OGE) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and OGE?
On 3 years of weekly data the CNP/OGE correlation comes out at 0.67, strong. The link has tightened recently: the 1-year correlation (0.85) runs above the 3-year figure (0.67). The 5-year figure is 0.78, and annualized covariance runs at 203.4 %².
OGE is one of the assets that tracks CNP most closely: it ranks #2 out of the 28 assets we track against CNP. Neither side won the trailing year by much: +6.5% 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.
CNP vs OGE: side by side
| CNP (CenterPoint Energy) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +6.5% | +5.5% |
| 5-year return | +75.6% | +60.6% |
| Volatility (ann.) | 17.2% | 17.6% |
| Beta vs S&P 500 | 0.12 | 0.20 |
| Max drawdown (3Y) | -18.1% | -11.3% |
| Market cap | $25.9B | $9.5B |
| P/E (trailing) | 23.5 | 20.4 |
| Dividend yield | 2.27% | 3.64% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CNP | OGE |
|---|---|---|
| 2022 | +10.0% | +7.6% |
| 2023 | -2.1% | -7.5% |
| 2024 | +14.3% | +23.7% |
| 2025 | +23.7% | +7.6% |
| 2026 | +4.2% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and OGE good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CNP and OGE?
The CNP/OGE correlation stands at 0.67 on a 3-year window (1 year: 0.85, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is OGE a good diversifier for CNP?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnp-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnp-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNP correlations · OGE correlations
