WAB vs. OKE
WAB (Westinghouse Air Brake Technologies Corporation) and OKE (ONEOK, Inc.) are both stocks. WAB operates in Railroads (Industrials), while OKE operates in Oil & Gas Midstream (Energy). Over the past 10 years, WAB returned 15.09%/yr vs 13.42%/yr for OKE. At a 0.37 correlation, their price movements are largely independent.
Performance
WAB vs. OKE - Performance Comparison
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Returns By Period
In the year-to-date period, WAB achieves a 26.92% return, which is significantly higher than OKE's 22.91% return. Over the past 10 years, WAB has outperformed OKE with an annualized return of 15.09%, while OKE has yielded a comparatively lower 13.42% annualized return.
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
- 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 vs. OKE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
OKE ONEOK, Inc. | 22.91% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
Correlation
The correlation between WAB and OKE 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 WAB and OKE has dropped to 0.03 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
Fundamentals
WAB:
$46.13B
OKE:
$55.62B
WAB:
$7.07
OKE:
$5.61
WAB:
38.20
OKE:
15.70
WAB:
1.61
OKE:
1.11
WAB:
4.02
OKE:
1.58
WAB:
4.14
OKE:
2.49
WAB:
$11.51B
OKE:
$35.20B
WAB:
$3.89B
OKE:
$8.43B
WAB:
$2.33B
OKE:
$7.85B
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Return for Risk
WAB vs. OKE — Risk / Return Rank
WAB
OKE
WAB vs. OKE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Westinghouse Air Brake Technologies Corporation (WAB) 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.
| WAB | OKE | 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 | 1.25 | 1.12 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 0.79 | +1.80 |
| Martin ratioReturn relative to average drawdown | 5.74 | 1.79 | +3.94 |
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Drawdowns
WAB vs. OKE - Drawdown Comparison
The maximum WAB drawdown since its inception was -71.85%, smaller than the maximum OKE drawdown of -80.17%. Use the drawdown chart below to compare losses from any high point for WAB and OKE.
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Drawdown Indicators
| WAB | OKE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.85% | -80.17% | +8.32% |
Max Drawdown (1Y)Largest decline over 1 year | -13.29% | -20.76% | +7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -23.55% | -42.17% | +18.62% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -42.17% | +18.62% |
Max Drawdown (10Y)Largest decline over 10 years | -64.08% | -80.17% | +16.09% |
Current DrawdownCurrent decline from peak | -2.35% | -18.76% | +16.41% |
Average DrawdownAverage peak-to-trough decline | -23.94% | -16.67% | -7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.00% | 9.14% | -3.14% |
Volatility
WAB vs. OKE - Volatility Comparison
The current volatility for Westinghouse Air Brake Technologies Corporation (WAB) is 7.47%, while ONEOK, Inc. (OKE) has a volatility of 9.51%. This indicates that WAB 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
| WAB | OKE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.47% | 9.51% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 18.33% | 20.87% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.22% | 26.28% | -2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.88% | 28.22% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.32% | 38.91% | -7.59% |
Dividends
WAB vs. OKE - Dividend Comparison
WAB's dividend yield for the trailing twelve months is around 0.41%, less than OKE's 4.77% 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
WAB vs. OKE - Financials Comparison
This section allows you to compare key financial metrics between Westinghouse Air Brake Technologies 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
WAB vs. OKE - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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
WAB and OKE 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, WAB dropped -71.85% vs OKE's -80.17%.
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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