OGE vs SWX: Correlation
How closely do OGE Energy Corp (OGE) and Southwest Gas Holdings, Inc. (SWX) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGE and SWX?
On 3 years of weekly data the OGE/SWX correlation comes out at 0.59, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.78 versus 0.59 over 3 years. The 5-year figure is 0.54, and annualized covariance runs at 218.0 %².
By 3-year correlation, SWX places #29 of the 42 assets tracked against OGE. On 12-month performance SWX holds a 12.2-point edge, +5.5% against +17.7%.
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 SWX: side by side
| OGE (OGE Energy Corp) | SWX (Southwest Gas Holdings, Inc.) | |
|---|---|---|
| 1-year return | +5.5% | +17.7% |
| 5-year return | +60.6% | +51.6% |
| Volatility (ann.) | 17.6% | 21.1% |
| Beta vs S&P 500 | 0.20 | 0.35 |
| Max drawdown (3Y) | -11.3% | -14.8% |
| Market cap | $9.5B | $6.5B |
| P/E (trailing) | 20.4 | 23.3 |
| Dividend yield | 3.64% | 2.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGE | SWX |
|---|---|---|
| 2022 | +7.6% | -8.7% |
| 2023 | -7.5% | +6.6% |
| 2024 | +23.7% | +15.7% |
| 2025 | +7.6% | +16.9% |
| 2026 | +10.8% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and SWX good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between OGE and SWX?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.78 over the last year and 0.54 over 5 years.
Is SWX a good diversifier for OGE?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 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/oge-vs-swx.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OGE correlations · SWX correlations
