OKE vs. WAB
OKE (ONEOK, Inc.) and WAB (Westinghouse Air Brake Technologies Corporation) are both stocks. OKE operates in Oil & Gas Midstream (Energy), while WAB operates in Railroads (Industrials). Over the past 10 years, OKE returned 13.42%/yr vs 15.09%/yr for WAB. At a 0.37 correlation, their price movements are largely independent.
Performance
OKE vs. WAB - Performance Comparison
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Returns By Period
In the year-to-date period, OKE achieves a 22.91% return, which is significantly lower than WAB's 26.92% return. Over the past 10 years, OKE has underperformed WAB with an annualized return of 13.42%, while WAB has yielded a comparatively higher 15.09% annualized return.
OKE
- 1D
- 2.05%
- 1M
- -6.35%
- YTD
- 22.91%
- 6M
- 22.97%
- 1Y
- 16.36%
- 3Y*
- 21.22%
- 5Y*
- 15.73%
- 10Y*
- 13.42%
WAB
- 1D
- -2.35%
- 1M
- 5.40%
- YTD
- 26.92%
- 6M
- 23.40%
- 1Y
- 34.33%
- 3Y*
- 38.94%
- 5Y*
- 27.20%
- 10Y*
- 15.09%
OKE vs. WAB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OKE ONEOK, Inc. | 22.91% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
WAB Westinghouse Air Brake Technologies Corporation | 26.92% | 13.15% | 50.14% | 27.96% | 9.07% | 26.53% | -5.23% | 11.46% | -13.26% | -1.36% |
Correlation
The correlation between OKE and WAB is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 1995 | 0.37 |
Over the past year, the correlation between OKE and WAB has dropped to 0.03 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
Fundamentals
OKE:
$55.62B
WAB:
$46.13B
OKE:
$5.61
WAB:
$7.07
OKE:
15.70
WAB:
38.20
OKE:
1.11
WAB:
1.61
OKE:
1.58
WAB:
4.02
OKE:
2.49
WAB:
4.14
OKE:
$35.20B
WAB:
$11.51B
OKE:
$8.43B
WAB:
$3.89B
OKE:
$7.85B
WAB:
$2.33B
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Return for Risk
OKE vs. WAB — Risk / Return Rank
OKE
WAB
OKE vs. WAB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ONEOK, Inc. (OKE) and Westinghouse Air Brake Technologies Corporation (WAB). 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 | WAB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.25 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 2.59 | -1.80 |
| Martin ratioReturn relative to average drawdown | 1.79 | 5.74 | -3.94 |
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Drawdowns
OKE vs. WAB - Drawdown Comparison
The maximum OKE drawdown since its inception was -80.17%, which is greater than WAB's maximum drawdown of -71.85%. Use the drawdown chart below to compare losses from any high point for OKE and WAB.
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Drawdown Indicators
| OKE | WAB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.17% | -71.85% | -8.32% |
Max Drawdown (1Y)Largest decline over 1 year | -20.76% | -13.29% | -7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -42.17% | -23.55% | -18.62% |
Max Drawdown (5Y)Largest decline over 5 years | -42.17% | -23.55% | -18.62% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -64.08% | -16.09% |
Current DrawdownCurrent decline from peak | -18.76% | -2.35% | -16.41% |
Average DrawdownAverage peak-to-trough decline | -16.67% | -23.94% | +7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.14% | 6.00% | +3.14% |
Volatility
OKE vs. WAB - Volatility Comparison
ONEOK, Inc. (OKE) has a higher volatility of 9.51% compared to Westinghouse Air Brake Technologies Corporation (WAB) at 7.47%. This indicates that OKE's price experiences larger fluctuations and is considered to be riskier than WAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OKE | WAB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.51% | 7.47% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 20.87% | 18.33% | +2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.28% | 24.22% | +2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.22% | 25.88% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.91% | 31.32% | +7.59% |
Dividends
OKE vs. WAB - Dividend Comparison
OKE's dividend yield for the trailing twelve months is around 4.77%, more than WAB's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OKE ONEOK, Inc. | 4.77% | 5.61% | 3.94% | 5.44% | 5.69% | 6.36% | 9.74% | 4.66% | 6.01% | 5.09% | 4.28% | 9.85% |
WAB Westinghouse Air Brake Technologies Corporation | 0.41% | 0.47% | 0.42% | 0.54% | 0.60% | 0.52% | 0.66% | 0.62% | 0.68% | 0.54% | 0.43% | 0.39% |
Financials
OKE vs. WAB - Financials Comparison
This section allows you to compare key financial metrics between ONEOK, Inc. and Westinghouse Air Brake Technologies 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. WAB - 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%.
WAB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Westinghouse Air Brake Technologies Corporation reported a gross profit of 1.06B and revenue of 2.95B. Therefore, the gross margin over that period was 36.0%.
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%.
WAB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Westinghouse Air Brake Technologies Corporation reported an operating income of 517.00M and revenue of 2.95B, resulting in an operating margin of 17.5%.
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%.
WAB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Westinghouse Air Brake Technologies Corporation reported a net income of 362.00M and revenue of 2.95B, resulting in a net margin of 12.3%.
Frequently Asked Questions
OKE and WAB have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OKE has higher volatility (9.51%) compared to WAB (7.47%). In terms of maximum drawdown, OKE dropped -80.17% vs WAB's -71.85%.
WAB currently has the higher Sharpe Ratio (1.42 vs 0.63), 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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