OKE vs. TRP
OKE (ONEOK, Inc.) and TRP (TC Energy Corporation) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, OKE returned 13.77%/yr vs 12.24%/yr for TRP. At a 0.33 correlation, their price movements are largely independent.
Performance
OKE vs. TRP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with OKE having a 26.44% return and TRP slightly higher at 27.41%. Over the past 10 years, OKE has outperformed TRP with an annualized return of 13.77%, while TRP has yielded a comparatively lower 12.24% annualized return.
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%
TRP
- 1D
- 0.12%
- 1M
- 3.47%
- YTD
- 27.41%
- 6M
- 29.66%
- 1Y
- 45.12%
- 3Y*
- 30.95%
- 5Y*
- 14.55%
- 10Y*
- 12.24%
OKE vs. TRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OKE ONEOK, Inc. | 26.44% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
TRP TC Energy Corporation | 27.41% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
Correlation
The correlation between OKE and TRP is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1987 | 0.33 |
The correlation between OKE and TRP shifts across timeframes, from 0.32 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
OKE:
$57.22B
TRP:
$72.30B
OKE:
$5.61
TRP:
CA$3.31
OKE:
16.15
TRP:
29.33
OKE:
1.15
TRP:
0.40
OKE:
1.62
TRP:
6.40
OKE:
2.56
TRP:
3.99
OKE:
$35.20B
TRP:
CA$15.76B
OKE:
$8.43B
TRP:
CA$8.07B
OKE:
$7.85B
TRP:
CA$10.90B
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Return for Risk
OKE vs. TRP — Risk / Return Rank
OKE
TRP
OKE vs. TRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ONEOK, Inc. (OKE) and TC Energy Corporation (TRP). 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.
| OKE | TRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.42 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 4.70 | -3.95 |
| Martin ratioReturn relative to average drawdown | 1.69 | 14.42 | -12.73 |
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Drawdowns
OKE vs. TRP - Drawdown Comparison
The maximum OKE drawdown since its inception was -80.17%, which is greater than TRP's maximum drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for OKE and TRP.
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Drawdown Indicators
| OKE | TRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.17% | -62.52% | -17.65% |
Max Drawdown (1Y)Largest decline over 1 year | -21.02% | -9.65% | -11.37% |
Max Drawdown (3Y)Largest decline over 3 years | -42.17% | -17.00% | -25.17% |
Max Drawdown (5Y)Largest decline over 5 years | -42.17% | -37.05% | -5.12% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -41.64% | -38.53% |
Current DrawdownCurrent decline from peak | -16.43% | -2.14% | -14.29% |
Average DrawdownAverage peak-to-trough decline | -16.67% | -11.72% | -4.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.26% | 3.26% | +6.00% |
Volatility
OKE vs. TRP - Volatility Comparison
ONEOK, Inc. (OKE) has a higher volatility of 9.70% compared to TC Energy Corporation (TRP) at 5.62%. This indicates that OKE's price experiences larger fluctuations and is considered to be riskier than TRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OKE | TRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.70% | 5.62% | +4.08% |
Volatility (6M)Calculated over the trailing 6-month period | 20.76% | 13.27% | +7.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.04% | 17.71% | +8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.33% | 21.86% | +6.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.88% | 24.83% | +14.05% |
Dividends
OKE vs. TRP - Dividend Comparison
OKE's dividend yield for the trailing twelve months is around 4.64%, more than TRP's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TRP TC Energy Corporation | 3.58% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
OKE vs. TRP - Financials Comparison
This section allows you to compare key financial metrics between ONEOK, Inc. and TC Energy Corporation. 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
OKE vs. TRP - Profitability Comparison
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%.
TRP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.41B and revenue of 4.24B. Therefore, the gross margin over that period was 56.7%.
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%.
TRP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.24B, resulting in an operating margin of 52.1%.
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%.
TRP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 929.40M and revenue of 4.24B, resulting in a net margin of 21.9%.
Frequently Asked Questions
OKE and TRP have a correlation of 0.32, 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 TRP (5.62%). In terms of maximum drawdown, OKE dropped -80.17% vs TRP's -62.52%.
TRP currently has the higher Sharpe Ratio (2.56 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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