OGE vs XLU: Correlation
OGE Energy Corp (OGE) and Utilities Select Sector SPDR Fund (XLU) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGE and XLU?
Over the past 3 years, OGE and XLU moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.92) sits close to the 3-year figure. Over 5 years the correlation is 0.88, and the annualized covariance of weekly returns is 237.2 %².
In OGE's tracked universe of 42 assets, XLU sits right near the top at #2. Their 12-month results are close: +5.5% for OGE against +4.1% for XLU.
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 XLU: side by side
| OGE (OGE Energy Corp) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +5.5% | +4.1% |
| 5-year return | +60.6% | +46.3% |
| Volatility (ann.) | 17.6% | 15.8% |
| Beta vs S&P 500 | 0.20 | 0.26 |
| Max drawdown (3Y) | -11.3% | -13.1% |
| Market cap | $9.5B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 3.64% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | US Listed | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | OGE | XLU |
|---|---|---|
| 2022 | +7.6% | +1.4% |
| 2023 | -7.5% | -7.2% |
| 2024 | +23.7% | +23.3% |
| 2025 | +7.6% | +16.0% |
| 2026 | +10.8% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGE and XLU good diversifiers for each other?
No: a correlation of 0.86 means OGE and XLU tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between OGE and XLU?
The OGE/XLU correlation stands at 0.86 on a 3-year window (1 year: 0.92, 5 years: 0.88), computed from weekly returns as of 2026-08-27.
Is XLU a good diversifier for OGE?
No: a correlation of 0.86 means OGE and XLU tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 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-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oge-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OGE correlations · XLU correlations
