EQT vs TRGP: Correlation
How closely do EQT Corporation (EQT) and Targa Resources (TRGP) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQT and TRGP?
Over the past 3 years, EQT and TRGP moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 497.7 %².
Within EQT's tracked universe of 31 assets, TRGP comes in at #17 by 3-year correlation. The last year tells two different stories: TRGP led by 70.8 percentage points, +7.9% for EQT against +78.7% for TRGP. Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.67.
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.
EQT vs TRGP: side by side
| EQT (EQT Corporation) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +7.9% | +78.7% |
| 5-year return | +224.8% | +626.8% |
| Volatility (ann.) | 34.1% | 31.5% |
| Beta vs S&P 500 | 0.52 | 0.44 |
| Max drawdown (3Y) | -31.6% | -31.6% |
| Market cap | $34.3B | $62.0B |
| P/E (trailing) | 12.7 | 28.1 |
| Dividend yield | 1.19% | 1.53% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EQT | TRGP |
|---|---|---|
| 2022 | +57.6% | +43.7% |
| 2023 | +16.2% | +21.0% |
| 2024 | +21.4% | +110.1% |
| 2025 | +17.6% | +5.7% |
| 2026 | +3.1% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQT and TRGP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EQT and TRGP?
The EQT/TRGP correlation stands at 0.46 on a 3-year window (1 year: 0.40, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is TRGP a good diversifier for EQT?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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: EQT correlations · TRGP correlations
