LH vs TGS: Correlation
Measured on weekly returns over the past three years, Labcorp (LH) and Transportadora de Gas del Sur SA TGS (TGS) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LH and TGS?
Across a 3-year window, the weekly returns of LH and TGS correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.31) runs below the 3-year figure (-0.19). Stretching to 5 years gives -0.04, with an annualized covariance of -226.3 %².
Out of 34 assets tracked against LH, TGS lands near the bottom at #32. The last year tells two different stories: LH led by 15.2 percentage points, +21.8% for LH against +6.6% for TGS. Note the risk asymmetry: TGS runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LH vs TGS: side by side
| LH (Labcorp) | TGS (Transportadora de Gas del Sur SA TGS) | |
|---|---|---|
| 1-year return | +21.8% | +6.6% |
| 5-year return | +36.0% | +412.6% |
| Volatility (ann.) | 21.4% | 55.6% |
| Beta vs S&P 500 | 0.33 | 0.33 |
| Max drawdown (3Y) | -17.4% | -39.5% |
| Market cap | $27.3B | $4.3B |
| P/E (trailing) | 27.8 | 12.4 |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | LH | TGS |
|---|---|---|
| 2022 | -24.4% | +165.8% |
| 2023 | +13.8% | +27.9% |
| 2024 | +2.2% | +94.0% |
| 2025 | +10.6% | +6.2% |
| 2026 | +34.8% | -8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LH and TGS good diversifiers for each other?
Yes. With a correlation of -0.19, LH and TGS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LH and TGS?
As of 2026-08-27, the correlation of weekly returns between LH and TGS is -0.19 over 3 years, -0.31 over 1 year and -0.04 over 5 years.
Is TGS a good diversifier for LH?
Yes. With a correlation of -0.19, LH and TGS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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: LH correlations · TGS correlations
