TRP vs. OKE
TRP (TC Energy Corporation) and OKE (ONEOK, Inc.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, TRP returned 12.07%/yr vs 13.58%/yr for OKE. At a 0.33 correlation, their price movements are largely independent.
Performance
TRP vs. OKE - Performance Comparison
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Returns By Period
In the year-to-date period, TRP achieves a 25.32% return, which is significantly higher than OKE's 23.03% return. Over the past 10 years, TRP has underperformed OKE with an annualized return of 12.07%, while OKE has yielded a comparatively higher 13.58% annualized return.
TRP
- 1D
- -0.63%
- 1M
- 5.41%
- YTD
- 25.32%
- 6M
- 27.56%
- 1Y
- 40.76%
- 3Y*
- 29.68%
- 5Y*
- 14.17%
- 10Y*
- 12.07%
OKE
- 1D
- -0.11%
- 1M
- 3.51%
- YTD
- 23.03%
- 6M
- 20.68%
- 1Y
- 13.81%
- 3Y*
- 19.79%
- 5Y*
- 16.20%
- 10Y*
- 13.58%
TRP vs. OKE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRP TC Energy Corporation | 25.32% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
OKE ONEOK, Inc. | 23.03% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
Correlation
The correlation between TRP and OKE 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 31, 1987 | 0.33 |
The correlation between TRP and OKE shifts across timeframes, from 0.32 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TRP:
$71.12B
OKE:
$55.68B
TRP:
$3.31
OKE:
$5.61
TRP:
20.64
OKE:
15.71
TRP:
0.28
OKE:
1.12
TRP:
4.51
OKE:
1.58
TRP:
2.81
OKE:
2.49
TRP:
$15.76B
OKE:
$35.20B
TRP:
$8.07B
OKE:
$8.43B
TRP:
$10.90B
OKE:
$7.85B
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Return for Risk
TRP vs. OKE — Risk / Return Rank
TRP
OKE
TRP vs. OKE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) 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.
| TRP | OKE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.11 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | 0.66 | +3.58 |
| Martin ratioReturn relative to average drawdown | 12.62 | 1.50 | +11.12 |
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
| TRP | OKE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 0.54 | +1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.58 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.35 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.39 | +0.08 |
Drawdowns
TRP vs. OKE - Drawdown Comparison
The maximum TRP drawdown since its inception was -62.52%, smaller than the maximum OKE drawdown of -80.17%. Use the drawdown chart below to compare losses from any high point for TRP and OKE.
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Drawdown Indicators
| TRP | OKE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.52% | -80.17% | +17.65% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -21.02% | +11.37% |
Max Drawdown (3Y)Largest decline over 3 years | -17.05% | -42.17% | +25.12% |
Max Drawdown (5Y)Largest decline over 5 years | -37.05% | -42.17% | +5.12% |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | -80.17% | +38.53% |
Current DrawdownCurrent decline from peak | -3.75% | -18.68% | +14.93% |
Average DrawdownAverage peak-to-trough decline | -11.73% | -16.67% | +4.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 9.22% | -5.74% |
Volatility
TRP vs. OKE - Volatility Comparison
The current volatility for TC Energy Corporation (TRP) is 5.85%, while ONEOK, Inc. (OKE) has a volatility of 9.48%. This indicates that TRP 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
| TRP | OKE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 9.48% | -3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 13.34% | 20.60% | -7.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.92% | 25.86% | -7.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.86% | 28.30% | -6.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.85% | 38.88% | -14.03% |
Dividends
TRP vs. OKE - Dividend Comparison
TRP's dividend yield for the trailing twelve months is around 3.64%, less than OKE's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OKE ONEOK, Inc. | 4.76% | 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 | 3.64% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
TRP vs. OKE - Financials Comparison
This section allows you to compare key financial metrics between TC Energy Corporation 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
TRP vs. OKE - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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
TRP and OKE 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 (9.48%) compared to TRP (5.85%). In terms of maximum drawdown, TRP dropped -62.52% vs OKE's -80.17%.
TRP currently has the higher Sharpe Ratio (2.29 vs 0.54), 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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