LOMA vs TGS: Correlation
How closely do Loma Negra Compania Industrial Argentina Sociedad Anonima (LOMA) and Transportadora de Gas del Sur SA TGS (TGS) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOMA and TGS?
On 3 years of weekly data the LOMA/TGS correlation comes out at 0.64, strong. The link has tightened recently: the 1-year correlation (0.84) runs above the 3-year figure (0.64). The 5-year figure is 0.60, and annualized covariance runs at 1685.9 %².
Among the 16 assets we track against LOMA, TGS ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +3.0% for LOMA and +6.6% for TGS.
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.
LOMA vs TGS: side by side
| LOMA (Loma Negra Compania Industrial Argentina Sociedad Anonima) | TGS (Transportadora de Gas del Sur SA TGS) | |
|---|---|---|
| 1-year return | +3.0% | +6.6% |
| 5-year return | +76.0% | +412.6% |
| Volatility (ann.) | 47.1% | 55.6% |
| Beta vs S&P 500 | 0.64 | 0.33 |
| Max drawdown (3Y) | -48.3% | -39.5% |
| Market cap | $1.1B | $4.3B |
| P/E (trailing) | 38.7 | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOMA | TGS |
|---|---|---|
| 2022 | +26.6% | +165.8% |
| 2023 | +21.0% | +27.9% |
| 2024 | +68.4% | +94.0% |
| 2025 | +8.5% | +6.2% |
| 2026 | -25.3% | -8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOMA and TGS good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LOMA and TGS?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.84 over the last year and 0.60 over 5 years.
Is TGS a good diversifier for LOMA?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 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: LOMA correlations · TGS correlations
