OKE vs WMB: Correlation
Oneok (OKE) and Williams Companies (WMB) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OKE and WMB?
Over the past 3 years, OKE and WMB moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 485.5 %².
By 3-year correlation, WMB places #14 of the 38 assets tracked against OKE. Twelve-month performance is nearly a tie, at +33.0% for OKE and +33.1% for WMB. Across three years, the rolling one-year figure varied moderately, from 0.39 to 0.87.
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 WMB: side by side
| OKE (Oneok) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | +33.0% | +33.1% |
| 5-year return | +134.0% | +279.9% |
| Volatility (ann.) | 28.7% | 24.0% |
| Beta vs S&P 500 | 0.42 | 0.34 |
| Max drawdown (3Y) | -42.2% | -12.4% |
| Market cap | $59.7B | $90.7B |
| P/E (trailing) | 16.4 | 29.7 |
| Dividend yield | 4.47% | 2.76% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | OKE | WMB |
|---|---|---|
| 2022 | +18.9% | +32.8% |
| 2023 | +13.2% | +11.9% |
| 2024 | +50.1% | +62.3% |
| 2025 | -22.9% | +14.9% |
| 2026 | +33.8% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OKE and WMB good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OKE and WMB?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.64 over the last year and 0.75 over 5 years.
Is WMB a good diversifier for OKE?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 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: OKE correlations · WMB correlations
