OKE vs PNRG: Correlation
How closely do Oneok (OKE) and PrimeEnergy Resources Corporation (PNRG) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OKE and PNRG?
Across a 3-year window, the weekly returns of OKE and PNRG correlate at 0.45, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.45 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 710.9 %².
By 3-year correlation, PNRG places #25 of the 38 assets tracked against OKE. Neither side won the trailing year by much: +33.0% against +37.2%. Risk is not evenly split, since PNRG carries 1.9 times the volatility of the other side.
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.
OKE vs PNRG: side by side
| OKE (Oneok) | PNRG (PrimeEnergy Resources Corporation) | |
|---|---|---|
| 1-year return | +33.0% | +37.2% |
| 5-year return | +134.0% | +312.9% |
| Volatility (ann.) | 28.7% | 54.8% |
| Beta vs S&P 500 | 0.42 | 0.69 |
| Max drawdown (3Y) | -42.2% | -44.6% |
| Market cap | $59.7B | $0.3B |
| P/E (trailing) | 16.4 | 20.2 |
| Dividend yield | 4.47% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | OKE | PNRG |
|---|---|---|
| 2022 | +18.9% | +23.9% |
| 2023 | +13.2% | +22.4% |
| 2024 | +50.1% | +106.5% |
| 2025 | -22.9% | -22.1% |
| 2026 | +33.8% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OKE and PNRG good diversifiers for each other?
Reasonably. At 0.45, OKE and PNRG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OKE and PNRG?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.58 over the last year and 0.37 over 5 years.
Is PNRG a good diversifier for OKE?
Reasonably. At 0.45, OKE and PNRG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oke-vs-pnrg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/oke-vs-pnrg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OKE correlations · PNRG correlations
