KNTK vs TRGP: Correlation
How closely do Kinetik Holdings Inc. (KNTK) and Targa Resources (TRGP) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KNTK and TRGP?
Across a 3-year window, the weekly returns of KNTK and TRGP correlate at 0.70, strong. Lately the two have drifted apart, with the 1-year correlation at 0.57 versus 0.70 over 3 years. Stretching to 5 years gives 0.64, with an annualized covariance of 725.9 %².
In KNTK's tracked universe of 14 assets, TRGP sits right near the top at #3. The last year tells two different stories: TRGP led by 39.1 percentage points, +39.6% for KNTK against +78.7% for TRGP.
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.
KNTK vs TRGP: side by side
| KNTK (Kinetik Holdings Inc.) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +39.6% | +78.7% |
| 5-year return | +147.1% | +626.8% |
| Volatility (ann.) | 33.1% | 31.5% |
| Beta vs S&P 500 | 0.63 | 0.44 |
| Max drawdown (3Y) | -49.0% | -31.6% |
| Market cap | $9.2B | $62.0B |
| P/E (trailing) | 19.3 | 28.1 |
| Dividend yield | 5.83% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | KNTK | TRGP |
|---|---|---|
| 2022 | +14.6% | +43.7% |
| 2023 | +10.9% | +21.0% |
| 2024 | +83.1% | +110.1% |
| 2025 | -31.9% | +5.7% |
| 2026 | +59.0% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNTK and TRGP good diversifiers for each other?
To a limited degree. At 0.70 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 KNTK and TRGP?
As of 2026-08-27, the correlation of weekly returns between KNTK and TRGP is 0.70 over 3 years, 0.57 over 1 year and 0.64 over 5 years.
Is TRGP a good diversifier for KNTK?
To a limited degree. At 0.70 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 0.70 mean?
On the −1 to +1 scale, 0.70 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/kntk-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kntk-vs-trgp/)
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Related comparisons
Hubs: KNTK correlations · TRGP correlations
