AROC vs TRGP: Correlation
Measured on weekly returns over the past three years, Archrock, Inc. (AROC) and Targa Resources (TRGP) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AROC and TRGP?
On 3 years of weekly data the AROC/TRGP correlation comes out at 0.65, strong. The link has loosened recently: the 1-year correlation (0.52) runs below the 3-year figure (0.65). The 5-year figure is 0.68, and annualized covariance runs at 738.6 %².
Within AROC's tracked universe of 17 assets, TRGP comes in at #5 by 3-year correlation. The last year tells two different stories: TRGP led by 44.3 percentage points, +34.4% for AROC against +78.7% for TRGP.
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.
AROC vs TRGP: side by side
| AROC (Archrock, Inc.) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +34.4% | +78.7% |
| 5-year return | +420.1% | +626.8% |
| Volatility (ann.) | 36.3% | 31.5% |
| Beta vs S&P 500 | 0.87 | 0.44 |
| Max drawdown (3Y) | -30.3% | -31.6% |
| Market cap | $5.6B | $62.0B |
| P/E (trailing) | 17.0 | 28.1 |
| Dividend yield | 2.78% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | AROC | TRGP |
|---|---|---|
| 2022 | +28.8% | +43.7% |
| 2023 | +81.0% | +21.0% |
| 2024 | +67.6% | +110.1% |
| 2025 | +8.0% | +5.7% |
| 2026 | +25.6% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AROC and TRGP good diversifiers for each other?
Only partially. A correlation of 0.65 means AROC and TRGP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AROC and TRGP?
As of 2026-08-27, the correlation of weekly returns between AROC and TRGP is 0.65 over 3 years, 0.52 over 1 year and 0.68 over 5 years.
Is TRGP a good diversifier for AROC?
Only partially. A correlation of 0.65 means AROC and TRGP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aroc-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: AROC correlations · TRGP correlations
