IDA vs OGE: Correlation
IDACORP, Inc. (IDA) and OGE Energy Corp (OGE) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDA and OGE?
On 3 years of weekly data the IDA/OGE correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.85 over 1 year against 0.80 over 3. The 5-year figure is 0.81, and annualized covariance runs at 249.6 %².
Few assets follow IDA as closely as OGE, which ranks #1 of 18 tracked partners. On 12-month performance IDA holds a 6.1-point edge, +11.6% 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.
IDA vs OGE: side by side
| IDA (IDACORP, Inc.) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +11.6% | +5.5% |
| 5-year return | +51.7% | +60.6% |
| Volatility (ann.) | 17.8% | 17.6% |
| Beta vs S&P 500 | 0.10 | 0.20 |
| Max drawdown (3Y) | -13.6% | -11.3% |
| Market cap | $8.0B | $9.5B |
| P/E (trailing) | 22.9 | 20.4 |
| Dividend yield | 2.53% | 3.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDA | OGE |
|---|---|---|
| 2022 | -2.1% | +7.6% |
| 2023 | -6.0% | -7.5% |
| 2024 | +15.0% | +23.7% |
| 2025 | +19.2% | +7.6% |
| 2026 | +10.9% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDA and OGE good diversifiers for each other?
No: a correlation of 0.80 means IDA and OGE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between IDA and OGE?
The IDA/OGE correlation stands at 0.80 on a 3-year window (1 year: 0.85, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is OGE a good diversifier for IDA?
No: a correlation of 0.80 means IDA and OGE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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/ida-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ida-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IDA correlations · OGE correlations
