MTDR vs OKE: Correlation
Matador Resources Company (MTDR) and Oneok (OKE) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTDR and OKE?
Across a 3-year window, the weekly returns of MTDR and OKE correlate at 0.71, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.71 over 3. Stretching to 5 years gives 0.69, with an annualized covariance of 817.8 %².
By 3-year correlation, OKE places #15 of the 27 assets tracked against MTDR. The last year tells two different stories: OKE led by 15.6 percentage points, +17.4% for MTDR against +33.0% for OKE.
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.
MTDR vs OKE: side by side
| MTDR (Matador Resources Company) | OKE (Oneok) | |
|---|---|---|
| 1-year return | +17.4% | +33.0% |
| 5-year return | +115.7% | +134.0% |
| Volatility (ann.) | 40.3% | 28.7% |
| Beta vs S&P 500 | 0.49 | 0.42 |
| Max drawdown (3Y) | -46.8% | -42.2% |
| Market cap | $7.0B | $59.7B |
| P/E (trailing) | 9.7 | 16.4 |
| Dividend yield | 2.60% | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | MTDR | OKE |
|---|---|---|
| 2022 | +55.8% | +18.9% |
| 2023 | +0.6% | +13.2% |
| 2024 | +0.4% | +50.1% |
| 2025 | -22.3% | -22.9% |
| 2026 | +36.7% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTDR and OKE good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MTDR and OKE?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.69 over the last year and 0.69 over 5 years.
Is OKE a good diversifier for MTDR?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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/mtdr-vs-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtdr-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTDR correlations · OKE correlations
