EVRG vs OGE: Correlation
Evergy (EVRG) and OGE Energy Corp (OGE) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and OGE?
Across a 3-year window, the weekly returns of EVRG and OGE correlate at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 268.2 %².
Few assets follow EVRG as closely as OGE, which ranks #1 of 44 tracked partners. Over the last 12 months EVRG came out ahead by 11.4 percentage points (+16.9% 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.
EVRG vs OGE: side by side
| EVRG (Evergy) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +16.9% | +5.5% |
| 5-year return | +46.3% | +60.6% |
| Volatility (ann.) | 17.9% | 17.6% |
| Beta vs S&P 500 | 0.13 | 0.20 |
| Max drawdown (3Y) | -15.8% | -11.3% |
| Market cap | $18.8B | $9.5B |
| P/E (trailing) | 20.9 | 20.4 |
| Dividend yield | 3.35% | 3.64% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | EVRG | OGE |
|---|---|---|
| 2022 | -4.9% | +7.6% |
| 2023 | -13.3% | -7.5% |
| 2024 | +23.4% | +23.7% |
| 2025 | +22.4% | +7.6% |
| 2026 | +15.2% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVRG and OGE good diversifiers for each other?
No. With a correlation of 0.86, EVRG and OGE move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EVRG and OGE?
The EVRG/OGE correlation stands at 0.86 on a 3-year window (1 year: 0.88, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is OGE a good diversifier for EVRG?
No. With a correlation of 0.86, EVRG and OGE move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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/evrg-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evrg-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVRG correlations · OGE correlations
