SBR vs TRGP: Correlation
Measured on weekly returns over the past three years, Sabine Royalty Trust (SBR) and Targa Resources (TRGP) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBR and TRGP?
Over the past 3 years, SBR and TRGP moved with a correlation of 0.47, which is moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.47). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 337.4 %².
TRGP is one of the assets that tracks SBR most closely: it ranks #2 out of the 10 assets we track against SBR. Correlation aside, the last 12 months split them widely, with TRGP ahead by 69.6 points (+9.1% versus +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.
SBR vs TRGP: side by side
| SBR (Sabine Royalty Trust) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | +9.1% | +78.7% |
| 5-year return | +200.0% | +626.8% |
| Volatility (ann.) | 22.9% | 31.5% |
| Beta vs S&P 500 | 0.33 | 0.44 |
| Max drawdown (3Y) | -18.5% | -31.6% |
| Market cap | $1.1B | $62.0B |
| P/E (trailing) | 15.1 | 28.1 |
| Dividend yield | 6.55% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | SBR | TRGP |
|---|---|---|
| 2022 | +132.1% | +43.7% |
| 2023 | -13.1% | +21.0% |
| 2024 | +4.1% | +110.1% |
| 2025 | +14.0% | +5.7% |
| 2026 | +12.7% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBR and TRGP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SBR and TRGP?
As of 2026-08-27, the correlation of weekly returns between SBR and TRGP is 0.47 over 3 years, 0.60 over 1 year and 0.58 over 5 years.
Is TRGP a good diversifier for SBR?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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.
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Related comparisons
Hubs: SBR correlations · TRGP correlations
