OGE vs SO: Correlation
OGE Energy Corp (OGE) and Southern Company (SO) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGE and SO?
Across a 3-year window, the weekly returns of OGE and SO correlate at 0.76, strong. Recent behaviour matches the longer record: 0.83 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.80, with an annualized covariance of 219.6 %².
Among the 42 assets we track against OGE, SO ranks #14 by 3-year correlation. On 12-month performance OGE holds a 6.9-point edge, +5.5% against -1.4%.
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 SO: side by side
| OGE (OGE Energy Corp) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +5.5% | -1.4% |
| 5-year return | +60.6% | +62.6% |
| Volatility (ann.) | 17.6% | 16.5% |
| Beta vs S&P 500 | 0.20 | -0.02 |
| Max drawdown (3Y) | -11.3% | -15.0% |
| Market cap | $9.5B | $102.4B |
| P/E (trailing) | 20.4 | 21.7 |
| Dividend yield | 3.64% | 3.32% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | OGE | SO |
|---|---|---|
| 2022 | +7.6% | +8.2% |
| 2023 | -7.5% | +2.2% |
| 2024 | +23.7% | +21.7% |
| 2025 | +7.6% | +9.5% |
| 2026 | +10.8% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and SO good diversifiers for each other?
Only partially. A correlation of 0.76 means OGE and SO 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 OGE and SO?
The OGE/SO correlation stands at 0.76 on a 3-year window (1 year: 0.83, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is SO a good diversifier for OGE?
Only partially. A correlation of 0.76 means OGE and SO 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?
A reading of 0.76 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-so.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oge-vs-so/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OGE correlations · SO correlations
