EXE vs OKE: Correlation
How closely do Expand Energy (EXE) and Oneok (OKE) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXE and OKE?
On 3 years of weekly data the EXE/OKE correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.52 over 3. The 5-year figure is 0.58, and annualized covariance runs at 424.3 %².
By 3-year correlation, OKE places #18 of the 32 assets tracked against EXE. Correlation aside, the last 12 months split them widely, with OKE ahead by 27.8 points (+5.2% versus +33.0%). On a rolling one-year basis the correlation drifted between 0.33 and 0.70, 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.
EXE vs OKE: side by side
| EXE (Expand Energy) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +5.2% | +33.0% |
| 5-year return | +125.8% | +134.0% |
| Volatility (ann.) | 28.2% | 28.7% |
| Beta vs S&P 500 | 0.31 | 0.42 |
| Max drawdown (3Y) | -28.4% | -42.2% |
| Market cap | $22.7B | $59.7B |
| P/E (trailing) | 8.3 | 16.4 |
| Dividend yield | 3.30% | 4.47% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EXE | OKE |
|---|---|---|
| 2022 | +62.3% | +18.9% |
| 2023 | -14.8% | +13.2% |
| 2024 | +33.2% | +50.1% |
| 2025 | +14.4% | -22.9% |
| 2026 | -9.6% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXE and OKE good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EXE and OKE?
The EXE/OKE correlation stands at 0.52 on a 3-year window (1 year: 0.50, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is OKE a good diversifier for EXE?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exe-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/exe-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXE correlations · OKE correlations
