NGS vs TRGP: Correlation
Natural Gas Services Group, Inc. (NGS) and Targa Resources (TRGP) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGS and TRGP?
Across a 3-year window, the weekly returns of NGS and TRGP correlate at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 827.6 %².
Few assets follow NGS as closely as TRGP, which ranks #3 of 13 tracked partners. Their recent paths diverged sharply: over the last 12 months TRGP outperformed by 40.8 percentage points (+37.9% for NGS 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.
NGS vs TRGP: side by side
| NGS (Natural Gas Services Group, Inc.) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +37.9% | +78.7% |
| 5-year return | +274.7% | +626.8% |
| Volatility (ann.) | 45.0% | 31.5% |
| Beta vs S&P 500 | 0.87 | 0.44 |
| Max drawdown (3Y) | -40.9% | -31.6% |
| Market cap | $0.5B | $62.0B |
| P/E (trailing) | 21.7 | 28.1 |
| Dividend yield | 1.35% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | NGS | TRGP |
|---|---|---|
| 2022 | +9.5% | +43.7% |
| 2023 | +40.3% | +21.0% |
| 2024 | +66.7% | +110.1% |
| 2025 | +26.5% | +5.7% |
| 2026 | +6.3% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGS and TRGP good diversifiers for each other?
To a limited degree. At 0.59 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 NGS and TRGP?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.52 over the last year and 0.52 over 5 years.
Is TRGP a good diversifier for NGS?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ngs-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ngs-vs-trgp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NGS correlations · TRGP correlations
