Targa Resources Corp. (TRGP) Correlation Distribution
Across 6,809 rolling correlation observations between Targa Resources Corp. (TRGP) and other NASDAQ-listed stocks, 38.3% are positive and 61.7% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.108, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 16.6% and strong negative correlations (≤−0.7) for 14.3%.
- Total observations
- 6,809
- Mean correlation
- -0.108
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38.3%
- Strong positive (≥0.7)
- 16.6%
- Sector
- Natural Gas Transmission
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 33 | 0.5% | |
| -0.9 to -0.8 | 471 | 6.9% | |
| -0.8 to -0.7 | 470 | 6.9% | |
| -0.7 to -0.6 | 828 | 12.2% | |
| -0.6 to -0.5 | 828 | 12.2% | |
| -0.5 to -0.4 | 423 | 6.2% | |
| -0.4 to -0.3 | 422 | 6.2% | |
| -0.3 to -0.2 | 258 | 3.8% | |
| -0.2 to -0.1 | 257 | 3.8% | |
| -0.1 to 0.0 | 209 | 3.1% | |
| 0.0 to 0.1 | 209 | 3.1% | |
| 0.1 to 0.2 | 184 | 2.7% | |
| 0.2 to 0.3 | 184 | 2.7% | |
| 0.3 to 0.4 | 202 | 3.0% | |
| 0.4 to 0.5 | 202 | 3.0% | |
| 0.5 to 0.6 | 249 | 3.7% | |
| 0.6 to 0.7 | 249 | 3.7% | |
| 0.7 to 0.8 | 406 | 6.0% | |
| 0.8 to 0.9 | 406 | 6.0% | |
| 0.9 to 1.0 | 319 | 4.7% |
Frequently asked questions
What is the average correlation of TRGP?
Targa Resources Corp. (TRGP) has an average correlation of about -0.108 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is TRGP positively correlated with other stocks?
Not predominantly — 38.3% of pairs are positive and 61.7% are negative. Strong positive correlations (≥0.7) make up 16.6%.
What is the most common correlation range for TRGP?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 19.1% of all pairs.
Explore the full interactive correlation distribution for TRGP.
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