LICN vs TRGP: Correlation
Lichen International Limited - Class A (LICN) and Targa Resources (TRGP) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and TRGP?
On 3 years of weekly data the LICN/TRGP correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.11) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -52737.4 %².
Among the 85 assets we track against LICN, TRGP ranks #46 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TRGP ahead by 153.4 points (-74.7% versus +78.7%). One caveat on sizing: LICN is 270.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LICN vs TRGP: side by side
| LICN (Lichen International Limited - Class A) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | -74.7% | +78.7% |
| 5-year return | n/a | +626.8% |
| Volatility (ann.) | 8528.0% | 31.5% |
| Beta vs S&P 500 | -80.22 | 0.44 |
| Max drawdown (3Y) | -98.4% | -31.6% |
| Market cap | – | $62.0B |
| P/E (trailing) | – | 28.1 |
| Dividend yield | 0.00% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | LICN | TRGP |
|---|---|---|
| 2022 | – | +43.7% |
| 2023 | – | +21.0% |
| 2024 | -91.0% | +110.1% |
| 2025 | +1484.3% | +5.7% |
| 2026 | -56.7% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and TRGP good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between LICN and TRGP?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.11 over the last year and n/a over 5 years.
Is TRGP a good diversifier for LICN?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/licn-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/licn-vs-trgp/)
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Related comparisons
Hubs: LICN correlations · TRGP correlations
