TRGP vs WMB: Correlation
Targa Resources (TRGP) and Williams Companies (WMB) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRGP and WMB?
Over the past 3 years, TRGP and WMB moved with a correlation of 0.63, which is strong. Recent behaviour matches the longer record: 0.53 over 1 year against 0.63 over 3. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 478.8 %².
By 3-year correlation, WMB places #20 of the 38 assets tracked against TRGP. Correlation aside, the last 12 months split them widely, with TRGP ahead by 45.6 points (+78.7% versus +33.1%). The rolling one-year correlation moved between 0.37 and 0.84 over the past three years, a moderate range.
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 WMB: side by side
| TRGP (Targa Resources) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | +78.7% | +33.1% |
| 5-year return | +626.8% | +279.9% |
| Volatility (ann.) | 31.5% | 24.0% |
| Beta vs S&P 500 | 0.44 | 0.34 |
| Max drawdown (3Y) | -31.6% | -12.4% |
| Market cap | $62.0B | $90.7B |
| P/E (trailing) | 28.1 | 29.7 |
| Dividend yield | 1.53% | 2.76% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | TRGP | WMB |
|---|---|---|
| 2022 | +43.7% | +32.8% |
| 2023 | +21.0% | +11.9% |
| 2024 | +110.1% | +62.3% |
| 2025 | +5.7% | +14.9% |
| 2026 | +58.9% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRGP and WMB good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between TRGP and WMB?
The TRGP/WMB correlation stands at 0.63 on a 3-year window (1 year: 0.53, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is WMB a good diversifier for TRGP?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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-wmb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/trgp-vs-wmb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TRGP correlations · WMB correlations
