OGE vs WEC: Correlation
How closely do OGE Energy Corp (OGE) and WEC Energy Group (WEC) 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 WEC?
Over the past 3 years, OGE and WEC moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.85 over 1 year against 0.81 over 3. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 241.0 %².
Within OGE's tracked universe of 42 assets, WEC comes in at #7 by 3-year correlation. Twelve-month performance is nearly a tie, at +5.5% for OGE and +2.1% for WEC.
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 WEC: side by side
| OGE (OGE Energy Corp) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +5.5% | +2.1% |
| 5-year return | +60.6% | +32.7% |
| Volatility (ann.) | 17.6% | 16.9% |
| Beta vs S&P 500 | 0.20 | 0.02 |
| Max drawdown (3Y) | -11.3% | -11.6% |
| Market cap | $9.5B | $34.6B |
| P/E (trailing) | 20.4 | 20.6 |
| Dividend yield | 3.64% | 3.43% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | OGE | WEC |
|---|---|---|
| 2022 | +7.6% | -0.5% |
| 2023 | -7.5% | -7.0% |
| 2024 | +23.7% | +16.1% |
| 2025 | +7.6% | +16.0% |
| 2026 | +10.8% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and WEC good diversifiers for each other?
No. With a correlation of 0.81, OGE and WEC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between OGE and WEC?
The OGE/WEC correlation stands at 0.81 on a 3-year window (1 year: 0.85, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for OGE?
No. With a correlation of 0.81, OGE and WEC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 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.
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Related comparisons
Hubs: OGE correlations · WEC correlations
