OGE vs. CEG
OGE (OGE Energy Corp.) and CEG (Constellation Energy Corp) are both stocks. Both are in the Utilities sector — OGE in Utilities - Regulated Electric, CEG in Utilities - Renewable. Over the past 3 years, OGE returned 14.28%/yr vs 45.59%/yr for CEG. At a 0.26 correlation, their price movements are largely independent.
Performance
OGE vs. CEG - Performance Comparison
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Returns By Period
In the year-to-date period, OGE achieves a 12.08% return, which is significantly higher than CEG's -24.89% return.
OGE
- 1D
- 1.23%
- 1M
- -1.82%
- YTD
- 12.08%
- 6M
- 10.04%
- 1Y
- 11.44%
- 3Y*
- 14.28%
- 5Y*
- 11.19%
- 10Y*
- 8.59%
CEG
- 1D
- -0.99%
- 1M
- -17.30%
- YTD
- -24.89%
- 6M
- -28.01%
- 1Y
- -11.20%
- 3Y*
- 45.59%
- 5Y*
- —
- 10Y*
- —
OGE vs. CEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OGE OGE Energy Corp. | 12.08% | 7.60% | 23.69% | -7.54% | 7.20% |
CEG Constellation Energy Corp | -24.89% | 58.80% | 92.71% | 37.24% | 64.11% |
Correlation
The correlation between OGE and CEG is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022 | 0.26 |
The correlation between OGE and CEG shifts across timeframes, from 0.15 (3 years) to 0.26 (all time), reflecting how their relationship changes across market environments.
Fundamentals
OGE:
$9.73B
CEG:
$93.66B
OGE:
$2.25
CEG:
$8.13
OGE:
20.86
CEG:
32.56
OGE:
2.93
CEG:
3.45
OGE:
1.97
CEG:
2.80
OGE:
$3.27B
CEG:
$24.82B
OGE:
$1.93B
CEG:
$20.98B
OGE:
$1.24B
CEG:
$5.87B
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Return for Risk
OGE vs. CEG — Risk / Return Rank
OGE
CEG
OGE vs. CEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for OGE Energy Corp. (OGE) and Constellation Energy Corp (CEG). 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.
| OGE | CEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.00 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | -0.29 | +1.48 |
| Martin ratioReturn relative to average drawdown | 2.57 | -0.61 | +3.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OGE | CEG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | -0.24 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.94 | -0.44 |
Drawdowns
OGE vs. CEG - Drawdown Comparison
The maximum OGE drawdown since its inception was -48.85%, roughly equal to the maximum CEG drawdown of -50.70%. Use the drawdown chart below to compare losses from any high point for OGE and CEG.
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Drawdown Indicators
| OGE | CEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.85% | -50.70% | +1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -38.77% | +29.12% |
Max Drawdown (3Y)Largest decline over 3 years | -13.65% | -50.70% | +37.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.85% | — | — |
Current DrawdownCurrent decline from peak | -5.80% | -34.23% | +28.43% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -11.53% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 18.48% | -14.02% |
Volatility
OGE vs. CEG - Volatility Comparison
The current volatility for OGE Energy Corp. (OGE) is 6.27%, while Constellation Energy Corp (CEG) has a volatility of 15.68%. This indicates that OGE experiences smaller price fluctuations and is considered to be less risky than CEG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OGE | CEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 15.68% | -9.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.15% | 37.33% | -25.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.89% | 46.72% | -30.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.78% | 49.36% | -30.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 49.36% | -27.40% |
Dividends
OGE vs. CEG - Dividend Comparison
OGE's dividend yield for the trailing twelve months is around 3.61%, more than CEG's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.62% | 0.44% | 0.63% | 0.97% | 0.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OGE OGE Energy Corp. | 3.61% | 3.95% | 4.06% | 4.75% | 4.16% | 4.21% | 4.91% | 3.33% | 3.48% | 3.77% | 3.37% | 3.90% |
Financials
OGE vs. CEG - Financials Comparison
This section allows you to compare key financial metrics between OGE Energy Corp. and Constellation Energy Corp. 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
OGE vs. CEG - Profitability Comparison
OGE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, OGE Energy Corp. reported a gross profit of 616.10M and revenue of 752.60M. Therefore, the gross margin over that period was 81.9%.
CEG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Constellation Energy Corp reported a gross profit of 2.48B and revenue of 6.07B. Therefore, the gross margin over that period was 40.8%.
OGE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, OGE Energy Corp. reported an operating income of 113.10M and revenue of 752.60M, resulting in an operating margin of 15.0%.
CEG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Constellation Energy Corp reported an operating income of 598.00M and revenue of 6.07B, resulting in an operating margin of 9.9%.
OGE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, OGE Energy Corp. reported a net income of 50.20M and revenue of 752.60M, resulting in a net margin of 6.7%.
CEG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Constellation Energy Corp reported a net income of 432.00M and revenue of 6.07B, resulting in a net margin of 7.1%.
Frequently Asked Questions
OGE and CEG have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (15.68%) compared to OGE (6.27%). In terms of maximum drawdown, OGE dropped -48.85% vs CEG's -50.70%.
OGE currently has the higher Sharpe Ratio (0.72 vs -0.24), 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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