FTS vs TRP: Correlation
How closely do Fortis Inc. (FTS) and TC Energy Corporation (TRP) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTS and TRP?
Across a 3-year window, the weekly returns of FTS and TRP correlate at 0.59, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.59 over 3. Stretching to 5 years gives 0.51, with an annualized covariance of 171.8 %².
Among the 14 assets we track against FTS, TRP ranks #7 by 3-year correlation. On 12-month performance TRP holds a 10.9-point edge, +12.4% against +23.3%.
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.
FTS vs TRP: side by side
| FTS (Fortis Inc.) | TRP (TC Energy Corporation) | |
|---|---|---|
| 1-year return | +12.4% | +23.3% |
| 5-year return | +43.4% | +67.2% |
| Volatility (ann.) | 14.6% | 20.0% |
| Beta vs S&P 500 | 0.04 | 0.16 |
| Max drawdown (3Y) | -11.6% | -12.8% |
| Market cap | $28.0B | – |
| P/E (trailing) | 22.5 | 24.5 |
| Dividend yield | 4.58% | 5.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTS | TRP |
|---|---|---|
| 2022 | -13.9% | -9.7% |
| 2023 | +7.0% | +4.7% |
| 2024 | +5.4% | +26.2% |
| 2025 | +28.5% | +21.2% |
| 2026 | +8.3% | +15.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTS and TRP good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FTS and TRP?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.61 over the last year and 0.51 over 5 years.
Is TRP a good diversifier for FTS?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fts-vs-trp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fts-vs-trp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTS correlations · TRP correlations
