AMUB vs TRGP: Correlation
ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and Targa Resources (TRGP) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and TRGP?
On 3 years of weekly data the AMUB/TRGP correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 389.2 %².
Within AMUB's tracked universe of 20 assets, TRGP comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRGP outperformed by 47.8 percentage points (+30.9% for AMUB against +78.7% for TRGP). Risk is not evenly split, since TRGP carries 1.9 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMUB vs TRGP: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +30.9% | +78.7% |
| 5-year return | +191.0% | +626.8% |
| Volatility (ann.) | 16.5% | 31.5% |
| Beta vs S&P 500 | 0.31 | 0.44 |
| Max drawdown (3Y) | -17.0% | -31.6% |
| Market cap | – | $62.0B |
| P/E (trailing) | – | 28.1 |
| Dividend yield | – | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | AMUB | TRGP |
|---|---|---|
| 2022 | +29.9% | +43.7% |
| 2023 | +25.4% | +21.0% |
| 2024 | +23.0% | +110.1% |
| 2025 | +8.7% | +5.7% |
| 2026 | +29.6% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and TRGP good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMUB and TRGP?
As of 2026-08-27, the correlation of weekly returns between AMUB and TRGP is 0.75 over 3 years, 0.69 over 1 year and 0.79 over 5 years.
Is TRGP a good diversifier for AMUB?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amub-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amub-vs-trgp/)
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Related comparisons
Hubs: AMUB correlations · TRGP correlations
