DNN vs OKLO: Correlation
How closely do Denison Mines Corp (DNN) and Oklo Inc. (OKLO) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNN and OKLO?
On 3 years of weekly data the DNN/OKLO correlation comes out at 0.49, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.49 over 3. The 5-year figure is 0.37, and annualized covariance runs at 3236.2 %².
Among the 19 assets we track against DNN, OKLO ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DNN ahead by 111.0 points (+69.1% versus -41.9%). One caveat on sizing: OKLO is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DNN vs OKLO: side by side
| DNN (Denison Mines Corp) | OKLO (Oklo Inc.) | |
|---|---|---|
| 1-year return | +69.1% | -41.9% |
| 5-year return | +211.0% | +332.7% |
| Volatility (ann.) | 55.6% | 117.9% |
| Beta vs S&P 500 | 1.35 | 2.21 |
| Max drawdown (3Y) | -52.5% | -78.8% |
| Market cap | $3.3B | $7.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNN | OKLO |
|---|---|---|
| 2022 | -16.1% | +0.7% |
| 2023 | +53.9% | +6.5% |
| 2024 | +1.7% | +101.0% |
| 2025 | +47.8% | +238.0% |
| 2026 | +38.0% | -40.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNN and OKLO good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DNN and OKLO?
The DNN/OKLO correlation stands at 0.49 on a 3-year window (1 year: 0.54, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is OKLO a good diversifier for DNN?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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.
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Related comparisons
Hubs: DNN correlations · OKLO correlations
