EQT vs OKE: Correlation
EQT Corporation (EQT) and Oneok (OKE) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQT and OKE?
On 3 years of weekly data the EQT/OKE correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 502.2 %².
Within EQT's tracked universe of 31 assets, OKE comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OKE ahead by 25.1 points (+7.9% versus +33.0%). On a rolling one-year basis the correlation drifted between 0.24 and 0.68, a moderate band.
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.
EQT vs OKE: side by side
| EQT (EQT Corporation) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +7.9% | +33.0% |
| 5-year return | +224.8% | +134.0% |
| Volatility (ann.) | 34.1% | 28.7% |
| Beta vs S&P 500 | 0.52 | 0.42 |
| Max drawdown (3Y) | -31.6% | -42.2% |
| Market cap | $34.3B | $59.7B |
| P/E (trailing) | 12.7 | 16.4 |
| Dividend yield | 1.19% | 4.47% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EQT | OKE |
|---|---|---|
| 2022 | +57.6% | +18.9% |
| 2023 | +16.2% | +13.2% |
| 2024 | +21.4% | +50.1% |
| 2025 | +17.6% | -22.9% |
| 2026 | +3.1% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQT and OKE good diversifiers for each other?
Only partially. A correlation of 0.51 means EQT and OKE 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 EQT and OKE?
As of 2026-08-27, the correlation of weekly returns between EQT and OKE is 0.51 over 3 years, 0.51 over 1 year and 0.54 over 5 years.
Is OKE a good diversifier for EQT?
Only partially. A correlation of 0.51 means EQT and OKE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/eqt-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqt-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQT correlations · OKE correlations
