FE vs OGE: Correlation
Measured on weekly returns over the past three years, FirstEnergy (FE) 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 FE and OGE?
On 3 years of weekly data the FE/OGE correlation comes out at 0.69, strong. Lately the two have moved closer together, with the 1-year correlation at 0.79 versus 0.69 over 3 years. The 5-year figure is 0.76, and annualized covariance runs at 213.9 %².
By 3-year correlation, OGE places #12 of the 32 assets tracked against FE. Their 12-month results are close: +9.9% for FE against +5.5% for OGE.
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.
FE vs OGE: side by side
| FE (FirstEnergy) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +9.9% | +5.5% |
| 5-year return | +46.7% | +60.6% |
| Volatility (ann.) | 17.6% | 17.6% |
| Beta vs S&P 500 | 0.04 | 0.20 |
| Max drawdown (3Y) | -14.7% | -11.3% |
| Market cap | $26.8B | $9.5B |
| P/E (trailing) | 25.0 | 20.4 |
| Dividend yield | 3.85% | 3.64% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | FE | OGE |
|---|---|---|
| 2022 | +4.8% | +7.6% |
| 2023 | -8.9% | -7.5% |
| 2024 | +13.2% | +23.7% |
| 2025 | +17.3% | +7.6% |
| 2026 | +6.4% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FE and OGE good diversifiers for each other?
Only partially. A correlation of 0.69 means FE 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 FE and OGE?
The FE/OGE correlation stands at 0.69 on a 3-year window (1 year: 0.79, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is OGE a good diversifier for FE?
Only partially. A correlation of 0.69 means FE 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/fe-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fe-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FE correlations · OGE correlations
