OKE vs QQQ: Correlation
Oneok (OKE) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OKE and QQQ?
Across a 3-year window, the weekly returns of OKE and QQQ correlate at 0.09, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus 0.09 over 3 years. Stretching to 5 years gives 0.23, with an annualized covariance of 49.3 %².
Among the 38 assets we track against OKE, QQQ ranks #28 by 3-year correlation. The trailing year gives OKE the advantage: +33.0% versus +26.3%, a 6.7-point spread. This link changes with the market regime, having swung between -0.47 and 0.45 on a rolling one-year basis.
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 QQQ: side by side
| OKE (Oneok) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.0% | +26.3% |
| 5-year return | +134.0% | +95.4% |
| Volatility (ann.) | 28.7% | 19.6% |
| Beta vs S&P 500 | 0.42 | 1.28 |
| Max drawdown (3Y) | -42.2% | -22.8% |
| Market cap | $59.7B | – |
| P/E (trailing) | 16.4 | – |
| Dividend yield | 4.47% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Energy | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | OKE | QQQ |
|---|---|---|
| 2022 | +18.9% | -32.6% |
| 2023 | +13.2% | +54.9% |
| 2024 | +50.1% | +25.6% |
| 2025 | -22.9% | +20.8% |
| 2026 | +33.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OKE and QQQ good diversifiers for each other?
Yes. With a correlation of 0.09, OKE and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OKE and QQQ?
As of 2026-08-27, the correlation of weekly returns between OKE and QQQ is 0.09 over 3 years, -0.41 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for OKE?
Yes. With a correlation of 0.09, OKE and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 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
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Related comparisons
Hubs: OKE correlations · QQQ correlations
