GFR vs OKE: Correlation
How closely do Greenfire Resources Ltd. (GFR) and Oneok (OKE) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFR and OKE?
Over the past 3 years, GFR and OKE moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 747.2 %².
OKE is one of the assets that tracks GFR most closely: it ranks #1 out of the 11 assets we track against GFR. On 12-month performance OKE holds a 10.0-point edge, +23.0% against +33.0%. Note the risk asymmetry: GFR runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GFR vs OKE: side by side
| GFR (Greenfire Resources Ltd.) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +23.0% | +33.0% |
| 5-year return | -37.0% | +134.0% |
| Volatility (ann.) | 53.7% | 28.7% |
| Beta vs S&P 500 | 0.55 | 0.42 |
| Max drawdown (3Y) | -63.5% | -42.2% |
| Market cap | $0.9B | $59.7B |
| P/E (trailing) | – | 16.4 |
| Dividend yield | 0.00% | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | GFR | OKE |
|---|---|---|
| 2022 | +2.7% | +18.9% |
| 2023 | -52.1% | +13.2% |
| 2024 | +45.3% | +50.1% |
| 2025 | -32.6% | -22.9% |
| 2026 | +29.2% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFR and OKE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GFR and OKE?
The GFR/OKE correlation stands at 0.48 on a 3-year window (1 year: 0.58, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is OKE a good diversifier for GFR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/gfr-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gfr-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GFR correlations · OKE correlations
