TRGP vs VXX: Correlation
Targa Resources (TRGP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRGP and VXX?
Over the past 3 years, TRGP and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.14) than the 3-year average (-0.28). Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -541.9 %².
VXX is close to the least connected end of TRGP's tracked universe, ranking #37 of 38. Correlation aside, the last 12 months split them widely, with TRGP ahead by 128.4 points (+78.7% versus -49.7%). Note the risk asymmetry: VXX runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
TRGP vs VXX: side by side
| TRGP (Targa Resources) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +78.7% | -49.7% |
| 5-year return | +626.8% | -95.6% |
| Volatility (ann.) | 31.5% | 60.9% |
| Beta vs S&P 500 | 0.44 | -3.31 |
| Max drawdown (3Y) | -31.6% | -83.3% |
| Market cap | $62.0B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 1.53% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | TRGP | VXX |
|---|---|---|
| 2022 | +43.7% | -23.8% |
| 2023 | +21.0% | -72.5% |
| 2024 | +110.1% | -26.2% |
| 2025 | +5.7% | -42.2% |
| 2026 | +58.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRGP and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, TRGP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TRGP and VXX?
As of 2026-08-27, the correlation of weekly returns between TRGP and VXX is -0.28 over 3 years, 0.14 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for TRGP?
Yes. With a correlation of -0.28, TRGP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/trgp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trgp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TRGP correlations · VXX correlations
