EVEX vs TRGP: Correlation
Eve Holding, Inc. (EVEX) and Targa Resources (TRGP) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVEX and TRGP?
Across a 3-year window, the weekly returns of EVEX and TRGP correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.48) runs below the 3-year figure (-0.20). Stretching to 5 years gives -0.10, with an annualized covariance of -374.1 %².
Among the 15 assets we track against EVEX, TRGP sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with TRGP ahead by 119.5 points (-40.8% versus +78.7%). Risk is not evenly split, since EVEX 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.
EVEX vs TRGP: side by side
| EVEX (Eve Holding, Inc.) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | -40.8% | +78.7% |
| 5-year return | -72.4% | +626.8% |
| Volatility (ann.) | 60.7% | 31.5% |
| Beta vs S&P 500 | 1.73 | 0.44 |
| Max drawdown (3Y) | -75.8% | -31.6% |
| Market cap | $0.8B | $62.0B |
| P/E (trailing) | – | 28.1 |
| Dividend yield | 0.00% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | EVEX | TRGP |
|---|---|---|
| 2022 | – | +43.7% |
| 2023 | +1.7% | +21.0% |
| 2024 | -25.7% | +110.1% |
| 2025 | -26.7% | +5.7% |
| 2026 | -40.1% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVEX and TRGP good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EVEX and TRGP?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.48 over the last year and -0.10 over 5 years.
Is TRGP a good diversifier for EVEX?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/evex-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/evex-vs-trgp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVEX correlations · TRGP correlations
