ATMP vs TRGP: Correlation
Measured on weekly returns over the past three years, iPath Select MLP ETN (ATMP) and Targa Resources (TRGP) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and TRGP?
Across a 3-year window, the weekly returns of ATMP and TRGP correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 450.5 %².
Among the 37 assets we track against ATMP, TRGP ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRGP outperformed by 44.3 percentage points (+34.4% for ATMP 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.
ATMP vs TRGP: side by side
| ATMP (iPath Select MLP ETN) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +34.4% | +78.7% |
| 5-year return | +216.1% | +626.8% |
| Volatility (ann.) | 17.0% | 31.5% |
| Beta vs S&P 500 | 0.28 | 0.44 |
| Max drawdown (3Y) | -15.6% | -31.6% |
| Market cap | – | $62.0B |
| P/E (trailing) | – | 28.1 |
| Dividend yield | 0.00% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ATMP | TRGP |
|---|---|---|
| 2022 | +27.5% | +43.7% |
| 2023 | +21.6% | +21.0% |
| 2024 | +38.7% | +110.1% |
| 2025 | +7.0% | +5.7% |
| 2026 | +32.0% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and TRGP good diversifiers for each other?
No: a correlation of 0.84 means ATMP and TRGP tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ATMP and TRGP?
As of 2026-08-27, the correlation of weekly returns between ATMP and TRGP is 0.84 over 3 years, 0.79 over 1 year and 0.84 over 5 years.
Is TRGP a good diversifier for ATMP?
No: a correlation of 0.84 means ATMP and TRGP tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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/atmp-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atmp-vs-trgp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATMP correlations · TRGP correlations
