OGE vs PPL: Correlation
How closely do OGE Energy Corp (OGE) and PPL Corporation (PPL) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGE and PPL?
Across a 3-year window, the weekly returns of OGE and PPL correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 248.2 %².
Among the 42 assets we track against OGE, PPL ranks #6 by 3-year correlation. On 12-month performance OGE holds a 8.5-point edge, +5.5% against -3.0%.
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.
OGE vs PPL: side by side
| OGE (OGE Energy Corp) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +5.5% | -3.0% |
| 5-year return | +60.6% | +41.1% |
| Volatility (ann.) | 17.6% | 17.4% |
| Beta vs S&P 500 | 0.20 | 0.13 |
| Max drawdown (3Y) | -11.3% | -13.3% |
| Market cap | $9.5B | $25.9B |
| P/E (trailing) | 20.4 | 20.7 |
| Dividend yield | 3.64% | 3.18% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | OGE | PPL |
|---|---|---|
| 2022 | +7.6% | +0.4% |
| 2023 | -7.5% | -3.8% |
| 2024 | +23.7% | +24.0% |
| 2025 | +7.6% | +11.4% |
| 2026 | +10.8% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and PPL good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between OGE and PPL?
As of 2026-08-27, the correlation of weekly returns between OGE and PPL is 0.81 over 3 years, 0.82 over 1 year and 0.84 over 5 years.
Is PPL a good diversifier for OGE?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
A reading of 0.81 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/oge-vs-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/oge-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OGE correlations · PPL correlations
