IDR vs OKE: Correlation
How closely do Idaho Strategic Resources, Inc. (IDR) and Oneok (OKE) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDR and OKE?
Across a 3-year window, the weekly returns of IDR and OKE correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.22). Stretching to 5 years gives -0.10, with an annualized covariance of -472.4 %².
By 3-year correlation, OKE places #12 of the 18 assets tracked against IDR. On 12-month performance OKE holds a 6.7-point edge, +26.3% against +33.0%. Note the risk asymmetry: IDR runs 2.6 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.
IDR vs OKE: side by side
| IDR (Idaho Strategic Resources, Inc.) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +26.3% | +33.0% |
| 5-year return | +702.8% | +134.0% |
| Volatility (ann.) | 73.6% | 28.7% |
| Beta vs S&P 500 | 0.68 | 0.42 |
| Max drawdown (3Y) | -50.0% | -42.2% |
| Market cap | $0.5B | $59.7B |
| P/E (trailing) | 22.6 | 16.4 |
| Dividend yield | 0.00% | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | IDR | OKE |
|---|---|---|
| 2022 | -23.4% | +18.9% |
| 2023 | +11.1% | +13.2% |
| 2024 | +61.0% | +50.1% |
| 2025 | +295.5% | -22.9% |
| 2026 | -16.1% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDR and OKE good diversifiers for each other?
Yes. With a correlation of -0.22, IDR and OKE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IDR and OKE?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.50 over the last year and -0.10 over 5 years.
Is OKE a good diversifier for IDR?
Yes. With a correlation of -0.22, IDR and OKE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/idr-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/idr-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IDR correlations · OKE correlations
