OKE vs SMC: Correlation
Measured on weekly returns over the past three years, Oneok (OKE) and Summit Midstream Corporation (SMC) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OKE and SMC?
Over the past 3 years, OKE and SMC moved with a correlation of 0.38, which is moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.38). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 574.1 %².
By 3-year correlation, SMC places #26 of the 38 assets tracked against OKE. Their recent paths diverged sharply: over the last 12 months SMC outperformed by 32.2 percentage points (+33.0% for OKE against +65.2% for SMC). Note the risk asymmetry: SMC runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SMC: side by side
| OKE (Oneok) | SMC (Summit Midstream Corporation) | |
|---|---|---|
| 1-year return | +33.0% | +65.2% |
| 5-year return | +134.0% | +1.2% |
| Volatility (ann.) | 28.7% | 52.2% |
| Beta vs S&P 500 | 0.42 | 0.43 |
| Max drawdown (3Y) | -42.2% | -57.3% |
| Market cap | $59.7B | $0.5B |
| P/E (trailing) | 16.4 | – |
| Dividend yield | 4.47% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | OKE | SMC |
|---|---|---|
| 2022 | +18.9% | -24.9% |
| 2023 | +13.2% | +7.4% |
| 2024 | +50.1% | +110.9% |
| 2025 | -22.9% | -29.4% |
| 2026 | +33.8% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OKE and SMC good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OKE and SMC?
As of 2026-08-27, the correlation of weekly returns between OKE and SMC is 0.38 over 3 years, 0.69 over 1 year and 0.37 over 5 years.
Is SMC a good diversifier for OKE?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/oke-vs-smc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oke-vs-smc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OKE correlations · SMC correlations
