OGE vs VXZ: Correlation
OGE Energy Corp (OGE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGE and VXZ?
On 3 years of weekly data the OGE/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.25). The 5-year figure is -0.27, and annualized covariance runs at -112.5 %².
Out of 42 assets tracked against OGE, VXZ lands near the bottom at #42. Correlation aside, the last 12 months split them widely, with OGE ahead by 21.6 points (+5.5% versus -16.1%).
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 VXZ: side by side
| OGE (OGE Energy Corp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.5% | -16.1% |
| 5-year return | +60.6% | -53.1% |
| Volatility (ann.) | 17.6% | 25.6% |
| Beta vs S&P 500 | 0.20 | -1.31 |
| Max drawdown (3Y) | -11.3% | -36.4% |
| Market cap | $9.5B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 3.64% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGE | VXZ |
|---|---|---|
| 2022 | +7.6% | +0.5% |
| 2023 | -7.5% | -44.0% |
| 2024 | +23.7% | -12.7% |
| 2025 | +7.6% | +5.7% |
| 2026 | +10.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OGE and VXZ?
The OGE/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.08, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for OGE?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oge-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oge-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OGE correlations · VXZ correlations
