OVV vs TRGP: Correlation
Ovintiv Inc. (DE) (OVV) and Targa Resources (TRGP) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVV and TRGP?
Across a 3-year window, the weekly returns of OVV and TRGP correlate at 0.74, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 847.2 %².
By 3-year correlation, TRGP places #20 of the 44 assets tracked against OVV. The last year tells two different stories: TRGP led by 17.5 percentage points, +61.2% for OVV 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.
OVV vs TRGP: side by side
| OVV (Ovintiv Inc. (DE)) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +61.2% | +78.7% |
| 5-year return | +175.7% | +626.8% |
| Volatility (ann.) | 36.4% | 31.5% |
| Beta vs S&P 500 | 0.43 | 0.44 |
| Max drawdown (3Y) | -42.2% | -31.6% |
| Market cap | $18.0B | $62.0B |
| P/E (trailing) | 18.0 | 28.1 |
| Dividend yield | 1.86% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | OVV | TRGP |
|---|---|---|
| 2022 | +53.3% | +43.7% |
| 2023 | -10.9% | +21.0% |
| 2024 | -5.2% | +110.1% |
| 2025 | -0.3% | +5.7% |
| 2026 | +68.1% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVV and TRGP good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between OVV and TRGP?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.74 over the last year and 0.75 over 5 years.
Is TRGP a good diversifier for OVV?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/ovv-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ovv-vs-trgp/)
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Related comparisons
Hubs: OVV correlations · TRGP correlations
