PR vs TRGP: Correlation
Permian Resources Corporation (PR) and Targa Resources (TRGP) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PR and TRGP?
Over the past 3 years, PR and TRGP moved with a correlation of 0.76, which is strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 848.7 %².
Within PR's tracked universe of 33 assets, TRGP comes in at #16 by 3-year correlation. On 12-month performance TRGP holds a 8.4-point edge, +70.3% against +78.7%.
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.
PR vs TRGP: side by side
| PR (Permian Resources Corporation) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +70.3% | +78.7% |
| 5-year return | +430.6% | +626.8% |
| Volatility (ann.) | 35.4% | 31.5% |
| Beta vs S&P 500 | 0.39 | 0.44 |
| Max drawdown (3Y) | -39.9% | -31.6% |
| Market cap | $19.4B | $62.0B |
| P/E (trailing) | 14.7 | 28.1 |
| Dividend yield | 2.73% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | PR | TRGP |
|---|---|---|
| 2022 | +57.9% | +43.7% |
| 2023 | +49.4% | +21.0% |
| 2024 | +10.7% | +110.1% |
| 2025 | +1.9% | +5.7% |
| 2026 | +68.0% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PR and TRGP good diversifiers for each other?
Only partially. A correlation of 0.76 means PR and TRGP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PR and TRGP?
As of 2026-08-27, the correlation of weekly returns between PR and TRGP is 0.76 over 3 years, 0.78 over 1 year and 0.72 over 5 years.
Is TRGP a good diversifier for PR?
Only partially. A correlation of 0.76 means PR and TRGP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 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/pr-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: PR correlations · TRGP correlations
