MDU vs OGE: Correlation
Measured on weekly returns over the past three years, MDU Resources Group, Inc. (MDU) and OGE Energy Corp (OGE) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDU and OGE?
Across a 3-year window, the weekly returns of MDU and OGE correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 264.9 %².
OGE is one of the assets that tracks MDU most closely: it ranks #3 out of the 11 assets we track against MDU. Correlation aside, the last 12 months split them widely, with MDU ahead by 20.8 points (+26.3% versus +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.
MDU vs OGE: side by side
| MDU (MDU Resources Group, Inc.) | OGE (OGE Energy Corp) | |
|---|---|---|
| 1-year return | +26.3% | +5.5% |
| 5-year return | +90.7% | +60.6% |
| Volatility (ann.) | 25.2% | 17.6% |
| Beta vs S&P 500 | 0.55 | 0.20 |
| Max drawdown (3Y) | -21.5% | -11.3% |
| Market cap | $4.2B | $9.5B |
| P/E (trailing) | 21.7 | 20.4 |
| Dividend yield | 2.76% | 3.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDU | OGE |
|---|---|---|
| 2022 | +1.5% | +7.6% |
| 2023 | -1.9% | -7.5% |
| 2024 | +68.0% | +23.7% |
| 2025 | +11.8% | +7.6% |
| 2026 | +4.8% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDU and OGE good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDU and OGE?
As of 2026-08-27, the correlation of weekly returns between MDU and OGE is 0.60 over 3 years, 0.67 over 1 year and 0.55 over 5 years.
Is OGE a good diversifier for MDU?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdu-vs-oge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdu-vs-oge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDU correlations · OGE correlations
