ED vs OGE: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and OGE Energy Corp (OGE) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and OGE?
On 3 years of weekly data the ED/OGE correlation comes out at 0.69, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 200.4 %².
By 3-year correlation, OGE places #14 of the 105 assets tracked against ED. Neither side won the trailing year by much: +10.2% 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.
ED vs OGE: side by side
| ED (Consolidated Edison) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +10.2% | +5.5% |
| 5-year return | +67.5% | +60.6% |
| Volatility (ann.) | 16.5% | 17.6% |
| Beta vs S&P 500 | -0.21 | 0.20 |
| Max drawdown (3Y) | -17.4% | -11.3% |
| Market cap | $39.5B | $9.5B |
| P/E (trailing) | 17.5 | 20.4 |
| Dividend yield | 3.22% | 3.64% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ED | OGE |
|---|---|---|
| 2022 | +15.7% | +7.6% |
| 2023 | -1.1% | -7.5% |
| 2024 | +1.5% | +23.7% |
| 2025 | +15.1% | +7.6% |
| 2026 | +10.1% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and OGE good diversifiers for each other?
Only partially. A correlation of 0.69 means ED 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 ED and OGE?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.78 over the last year and 0.77 over 5 years.
Is OGE a good diversifier for ED?
Only partially. A correlation of 0.69 means ED 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 0.69 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · OGE correlations
