EOG vs OKE: Correlation
How closely do EOG Resources (EOG) and Oneok (OKE) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and OKE?
Over the past 3 years, EOG and OKE moved with a correlation of 0.69, which is strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.69 over 3. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 561.2 %².
By 3-year correlation, OKE places #20 of the 40 assets tracked against EOG. Over the last 12 months OKE came out ahead by 11.3 percentage points (+21.7% against +33.0%). Across three years, the rolling one-year figure varied moderately, from 0.55 to 0.80.
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.
EOG vs OKE: side by side
| EOG (EOG Resources) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +21.7% | +33.0% |
| 5-year return | +171.5% | +134.0% |
| Volatility (ann.) | 28.1% | 28.7% |
| Beta vs S&P 500 | 0.14 | 0.42 |
| Max drawdown (3Y) | -23.7% | -42.2% |
| Market cap | $75.8B | $59.7B |
| P/E (trailing) | 11.3 | 16.4 |
| Dividend yield | 2.82% | 4.47% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EOG | OKE |
|---|---|---|
| 2022 | +56.9% | +18.9% |
| 2023 | -2.0% | +13.2% |
| 2024 | +4.3% | +50.1% |
| 2025 | -11.4% | -22.9% |
| 2026 | +41.0% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and OKE good diversifiers for each other?
To a limited degree. At 0.69 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 EOG and OKE?
The EOG/OKE correlation stands at 0.69 on a 3-year window (1 year: 0.75, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is OKE a good diversifier for EOG?
To a limited degree. At 0.69 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 0.69 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/eog-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eog-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EOG correlations · OKE correlations
