OGE vs TXNM: Correlation
Measured on weekly returns over the past three years, OGE Energy Corp (OGE) and TXNM Energy, Inc. (TXNM) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGE and TXNM?
Over the past 3 years, OGE and TXNM moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 133.3 %².
By 3-year correlation, TXNM places #35 of the 42 assets tracked against OGE. Their 12-month results are close: +5.5% for OGE against +4.5% for TXNM.
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 TXNM: side by side
| OGE (OGE Energy Corp) | TXNM (TXNM Energy, Inc.) | |
|---|---|---|
| 1-year return | +5.5% | +4.5% |
| 5-year return | +60.6% | +36.1% |
| Volatility (ann.) | 17.6% | 17.1% |
| Beta vs S&P 500 | 0.20 | 0.10 |
| Max drawdown (3Y) | -11.3% | -21.0% |
| Market cap | $9.5B | $5.9B |
| P/E (trailing) | 20.4 | 31.4 |
| Dividend yield | 3.64% | 2.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGE | TXNM |
|---|---|---|
| 2022 | +7.6% | +10.2% |
| 2023 | -7.5% | -12.0% |
| 2024 | +23.7% | +23.0% |
| 2025 | +7.6% | +23.4% |
| 2026 | +10.8% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and TXNM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OGE and TXNM?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.36 over the last year and 0.42 over 5 years.
Is TXNM a good diversifier for OGE?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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-txnm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oge-vs-txnm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OGE correlations · TXNM correlations
