KMI vs TRGP: Correlation
Measured on weekly returns over the past three years, Kinder Morgan (KMI) and Targa Resources (TRGP) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMI and TRGP?
On 3 years of weekly data the KMI/TRGP correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 469.4 %².
Within KMI's tracked universe of 33 assets, TRGP comes in at #8 by 3-year correlation. The last year tells two different stories: TRGP led by 56.4 percentage points, +22.3% for KMI against +78.7% for TRGP. Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.82.
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.
KMI vs TRGP: side by side
| KMI (Kinder Morgan) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +22.3% | +78.7% |
| 5-year return | +153.0% | +626.8% |
| Volatility (ann.) | 22.1% | 31.5% |
| Beta vs S&P 500 | 0.29 | 0.44 |
| Max drawdown (3Y) | -18.4% | -31.6% |
| Market cap | $70.2B | $62.0B |
| P/E (trailing) | 20.6 | 28.1 |
| Dividend yield | 3.69% | 1.53% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | KMI | TRGP |
|---|---|---|
| 2022 | +21.2% | +43.7% |
| 2023 | +4.1% | +21.0% |
| 2024 | +64.4% | +110.1% |
| 2025 | +4.8% | +5.7% |
| 2026 | +18.0% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMI and TRGP good diversifiers for each other?
To a limited degree. At 0.67 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 KMI and TRGP?
The KMI/TRGP correlation stands at 0.67 on a 3-year window (1 year: 0.60, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is TRGP a good diversifier for KMI?
To a limited degree. At 0.67 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 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kmi-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kmi-vs-trgp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KMI correlations · TRGP correlations
