EXE vs TRGP: Correlation
Measured on weekly returns over the past three years, Expand Energy (EXE) and Targa Resources (TRGP) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXE and TRGP?
Across a 3-year window, the weekly returns of EXE and TRGP correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 444.1 %².
Within EXE's tracked universe of 32 assets, TRGP comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRGP outperformed by 73.5 percentage points (+5.2% for EXE against +78.7% for TRGP). The rolling one-year correlation moved between 0.40 and 0.69 over the past three years, a moderate range.
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.
EXE vs TRGP: side by side
| EXE (Expand Energy) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +5.2% | +78.7% |
| 5-year return | +125.8% | +626.8% |
| Volatility (ann.) | 28.2% | 31.5% |
| Beta vs S&P 500 | 0.31 | 0.44 |
| Max drawdown (3Y) | -28.4% | -31.6% |
| Market cap | $22.7B | $62.0B |
| P/E (trailing) | 8.3 | 28.1 |
| Dividend yield | 3.30% | 1.53% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EXE | TRGP |
|---|---|---|
| 2022 | +62.3% | +43.7% |
| 2023 | -14.8% | +21.0% |
| 2024 | +33.2% | +110.1% |
| 2025 | +14.4% | +5.7% |
| 2026 | -9.6% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXE and TRGP good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EXE and TRGP?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.44 over the last year and 0.57 over 5 years.
Is TRGP a good diversifier for EXE?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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: EXE correlations · TRGP correlations
