KMI vs OKE: Correlation
Measured on weekly returns over the past three years, Kinder Morgan (KMI) and Oneok (OKE) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMI and OKE?
Over the past 3 years, KMI and OKE moved with a correlation of 0.76, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 482.3 %².
Within KMI's tracked universe of 33 assets, OKE comes in at #4 by 3-year correlation. On 12-month performance OKE holds a 10.7-point edge, +22.3% against +33.0%. Across three years, the rolling one-year figure varied moderately, from 0.56 to 0.85.
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.
KMI vs OKE: side by side
| KMI (Kinder Morgan) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +22.3% | +33.0% |
| 5-year return | +153.0% | +134.0% |
| Volatility (ann.) | 22.1% | 28.7% |
| Beta vs S&P 500 | 0.29 | 0.42 |
| Max drawdown (3Y) | -18.4% | -42.2% |
| Market cap | $70.2B | $59.7B |
| P/E (trailing) | 20.6 | 16.4 |
| Dividend yield | 3.69% | 4.47% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | KMI | OKE |
|---|---|---|
| 2022 | +21.2% | +18.9% |
| 2023 | +4.1% | +13.2% |
| 2024 | +64.4% | +50.1% |
| 2025 | +4.8% | -22.9% |
| 2026 | +18.0% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMI and OKE good diversifiers for each other?
Only partially. A correlation of 0.76 means KMI and OKE 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 KMI and OKE?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.75 over the last year and 0.80 over 5 years.
Is OKE a good diversifier for KMI?
Only partially. A correlation of 0.76 means KMI and OKE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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/kmi-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kmi-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KMI correlations · OKE correlations
