TRGP vs VXZ: Correlation
Targa Resources (TRGP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) 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 VXZ?
Across a 3-year window, the weekly returns of TRGP and VXZ correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.15 versus -0.28 over 3 years. Stretching to 5 years gives -0.31, with an annualized covariance of -227.1 %².
Out of 38 assets tracked against TRGP, VXZ lands near the bottom at #38. Correlation aside, the last 12 months split them widely, with TRGP ahead by 94.8 points (+78.7% versus -16.1%).
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 VXZ: side by side
| TRGP (Targa Resources) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +78.7% | -16.1% |
| 5-year return | +626.8% | -53.1% |
| Volatility (ann.) | 31.5% | 25.6% |
| Beta vs S&P 500 | 0.44 | -1.31 |
| Max drawdown (3Y) | -31.6% | -36.4% |
| Market cap | $62.0B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 1.53% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | TRGP | VXZ |
|---|---|---|
| 2022 | +43.7% | +0.5% |
| 2023 | +21.0% | -44.0% |
| 2024 | +110.1% | -12.7% |
| 2025 | +5.7% | +5.7% |
| 2026 | +58.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRGP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between TRGP and VXZ?
As of 2026-08-27, the correlation of weekly returns between TRGP and VXZ is -0.28 over 3 years, 0.15 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for TRGP?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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/trgp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trgp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TRGP correlations · VXZ correlations
