EOG vs TRGP: Correlation
Measured on weekly returns over the past three years, EOG Resources (EOG) and Targa Resources (TRGP) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and TRGP?
Over the past 3 years, EOG and TRGP moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 642.0 %².
Among the 40 assets we track against EOG, TRGP ranks #19 by 3-year correlation. The last year tells two different stories: TRGP led by 57.0 percentage points, +21.7% for EOG against +78.7% for TRGP. The rolling one-year correlation stayed in a tight band between 0.59 and 0.83 over the past three years, which points to a structural rather than episodic relationship.
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.
EOG vs TRGP: side by side
| EOG (EOG Resources) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +21.7% | +78.7% |
| 5-year return | +171.5% | +626.8% |
| Volatility (ann.) | 28.1% | 31.5% |
| Beta vs S&P 500 | 0.14 | 0.44 |
| Max drawdown (3Y) | -23.7% | -31.6% |
| Market cap | $75.8B | $62.0B |
| P/E (trailing) | 11.3 | 28.1 |
| Dividend yield | 2.82% | 1.53% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EOG | TRGP |
|---|---|---|
| 2022 | +56.9% | +43.7% |
| 2023 | -2.0% | +21.0% |
| 2024 | +4.3% | +110.1% |
| 2025 | -11.4% | +5.7% |
| 2026 | +41.0% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and TRGP good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EOG and TRGP?
The EOG/TRGP correlation stands at 0.72 on a 3-year window (1 year: 0.72, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is TRGP a good diversifier for EOG?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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.
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Related comparisons
Hubs: EOG correlations · TRGP correlations
