DKL vs. OKE
DKL (Delek Logistics Partners, LP) and OKE (ONEOK, Inc.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, DKL returned 18.34%/yr vs 13.77%/yr for OKE. At a 0.34 correlation, their price movements are largely independent.
Performance
DKL vs. OKE - Performance Comparison
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Returns By Period
In the year-to-date period, DKL achieves a 24.01% return, which is significantly lower than OKE's 26.44% return. Over the past 10 years, DKL has outperformed OKE with an annualized return of 18.34%, while OKE has yielded a comparatively lower 13.77% annualized return.
DKL
- 1D
- -1.47%
- 1M
- 3.96%
- YTD
- 24.01%
- 6M
- 23.65%
- 1Y
- 34.22%
- 3Y*
- 11.57%
- 5Y*
- 13.82%
- 10Y*
- 18.34%
OKE
- 1D
- 1.56%
- 1M
- 2.03%
- YTD
- 26.44%
- 6M
- 26.28%
- 1Y
- 15.65%
- 3Y*
- 20.59%
- 5Y*
- 16.74%
- 10Y*
- 13.77%
DKL vs. OKE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DKL Delek Logistics Partners, LP | 24.01% | 17.18% | 9.40% | 4.36% | 14.39% | 45.88% | 14.34% | 21.52% | 2.07% | 20.80% |
OKE ONEOK, Inc. | 26.44% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
Correlation
The correlation between DKL and OKE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2012 | 0.34 |
Fundamentals
DKL:
$2.84B
OKE:
$57.22B
DKL:
$3.17
OKE:
$5.61
DKL:
16.72
OKE:
16.15
DKL:
2.68
OKE:
1.62
DKL:
$1.06B
OKE:
$35.20B
DKL:
$158.42M
OKE:
$8.43B
DKL:
$449.11M
OKE:
$7.85B
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Return for Risk
DKL vs. OKE — Risk / Return Rank
DKL
OKE
DKL vs. OKE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delek Logistics Partners, LP (DKL) and ONEOK, Inc. (OKE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DKL | OKE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.12 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 0.75 | +2.22 |
| Martin ratioReturn relative to average drawdown | 8.54 | 1.69 | +6.84 |
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Drawdowns
DKL vs. OKE - Drawdown Comparison
The maximum DKL drawdown since its inception was -82.68%, roughly equal to the maximum OKE drawdown of -80.17%. Use the drawdown chart below to compare losses from any high point for DKL and OKE.
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Drawdown Indicators
| DKL | OKE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.68% | -80.17% | -2.51% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -21.02% | +9.44% |
Max Drawdown (3Y)Largest decline over 3 years | -35.26% | -42.17% | +6.91% |
Max Drawdown (5Y)Largest decline over 5 years | -36.61% | -42.17% | +5.56% |
Max Drawdown (10Y)Largest decline over 10 years | -82.68% | -80.17% | -2.51% |
Current DrawdownCurrent decline from peak | -1.47% | -16.43% | +14.96% |
Average DrawdownAverage peak-to-trough decline | -15.24% | -16.67% | +1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 9.26% | -5.24% |
Volatility
DKL vs. OKE - Volatility Comparison
The current volatility for Delek Logistics Partners, LP (DKL) is 7.59%, while ONEOK, Inc. (OKE) has a volatility of 9.70%. This indicates that DKL experiences smaller price fluctuations and is considered to be less risky than OKE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DKL | OKE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.59% | 9.70% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 20.76% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.37% | 26.04% | -1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.04% | 28.33% | +2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.91% | 38.88% | +5.03% |
Dividends
DKL vs. OKE - Dividend Comparison
DKL's dividend yield for the trailing twelve months is around 8.47%, more than OKE's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DKL Delek Logistics Partners, LP | 8.47% | 9.97% | 10.79% | 9.56% | 8.69% | 8.71% | 11.19% | 10.51% | 10.38% | 8.80% | 8.70% | 6.05% |
OKE ONEOK, Inc. | 4.64% | 5.61% | 3.94% | 5.44% | 5.69% | 6.36% | 9.74% | 4.66% | 6.01% | 5.09% | 4.28% | 9.85% |
Financials
DKL vs. OKE - Financials Comparison
This section allows you to compare key financial metrics between Delek Logistics Partners, LP and ONEOK, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
DKL vs. OKE - Profitability Comparison
DKL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Delek Logistics Partners, LP reported a gross profit of 0.00 and revenue of 297.47M. Therefore, the gross margin over that period was 0.0%.
OKE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ONEOK, Inc. reported a gross profit of 2.57B and revenue of 9.62B. Therefore, the gross margin over that period was 26.7%.
DKL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Delek Logistics Partners, LP reported an operating income of 40.01M and revenue of 297.47M, resulting in an operating margin of 13.5%.
OKE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ONEOK, Inc. reported an operating income of 1.43B and revenue of 9.62B, resulting in an operating margin of 14.9%.
DKL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Delek Logistics Partners, LP reported a net income of 32.35M and revenue of 297.47M, resulting in a net margin of 10.9%.
OKE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ONEOK, Inc. reported a net income of 774.00M and revenue of 9.62B, resulting in a net margin of 8.1%.
Frequently Asked Questions
DKL and OKE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OKE has higher volatility (9.70%) compared to DKL (7.59%). In terms of maximum drawdown, DKL dropped -82.68% vs OKE's -80.17%.
DKL currently has the higher Sharpe Ratio (1.41 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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