Targa Resources Correlations
| TAR Stock | EUR 168.80 3.05 1.84% |
The current 90-days correlation between Targa Resources Corp and TC Energy is 0.26 (i.e., Modest diversification). The correlation of Targa Resources is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Targa Resources Correlation With Market
Modest diversification
The correlation between Targa Resources Corp and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Targa Resources Corp and DJI in the same portfolio, assuming nothing else is changed.
Targa |
The ability to find closely correlated positions to Targa Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Targa Resources when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Targa Resources - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Targa Resources Corp to buy it.
Moving together with Targa Stock
| 0.91 | EN3 | Enbridge | PairCorr |
| 0.93 | TRS | TC Energy | PairCorr |
| 0.93 | CHQ1 | Cheniere Energy | PairCorr |
| 0.96 | 2KD | Kinder Morgan | PairCorr |
| 0.97 | WMB | The Williams Companies | PairCorr |
| 0.96 | ONK | ONEOK Inc | PairCorr |
| 0.87 | 5EE | MEBUKI FINANCIAL | PairCorr |
| 0.71 | 4FK | Fukuoka Financial | PairCorr |
| 0.84 | 2CDA | Controladora Vuela Compaa | PairCorr |
| 0.87 | LIE | Sun Life Financial | PairCorr |
| 0.94 | AF4 | HANOVER INSURANCE | PairCorr |
| 0.87 | M4I | Mastercard | PairCorr |
| 0.61 | HXL | Hexcel | PairCorr |
| 0.83 | RC2 | RCM TECHNOLOGIES | PairCorr |
| 0.7 | SYY | Sysco | PairCorr |
| 0.85 | 2WY | Wyndham Hotels Resorts | PairCorr |
| 0.9 | WX1 | Acadia Realty Trust | PairCorr |
| 0.92 | NT4 | Northern Trust | PairCorr |
| 0.81 | SK3 | Smurfit Kappa Group | PairCorr |
| 0.95 | PNP | PNC Financial | PairCorr |
| 0.93 | PCG6 | PG E P6 | PairCorr |
| 0.68 | 0XHR | Xenia Hotels Resorts | PairCorr |
| 0.95 | CQD | Charter Communications | PairCorr |
| 0.91 | FFH | Fifth Third Bancorp | PairCorr |
Moving against Targa Stock
Related Correlations Analysis
| 0.85 | 0.96 | 0.94 | 0.9 | 0.95 | 0.16 | EN3 | ||
| 0.85 | 0.83 | 0.94 | 0.96 | 0.88 | 0.47 | TRS | ||
| 0.96 | 0.83 | 0.95 | 0.9 | 0.96 | 0.09 | CHQ1 | ||
| 0.94 | 0.94 | 0.95 | 0.98 | 0.96 | 0.26 | 2KD | ||
| 0.9 | 0.96 | 0.9 | 0.98 | 0.94 | 0.38 | WMB | ||
| 0.95 | 0.88 | 0.96 | 0.96 | 0.94 | 0.28 | ONK | ||
| 0.16 | 0.47 | 0.09 | 0.26 | 0.38 | 0.28 | P5P | ||
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Risk-Adjusted Indicators
There is a big difference between Targa Stock performing well and Targa Resources Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Targa Resources' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EN3 | 0.95 | 0.15 | 0.12 | 0.30 | 0.90 | 2.22 | 5.56 | |||
| TRS | 1.23 | 0.16 | 0.08 | 0.31 | 1.56 | 3.21 | 11.56 | |||
| CHQ1 | 1.32 | 0.28 | 0.18 | 0.65 | 1.26 | 3.58 | 9.63 | |||
| 2KD | 1.28 | 0.41 | 0.32 | 0.39 | 0.92 | 2.76 | 12.82 | |||
| WMB | 1.19 | 0.36 | 0.25 | 1.02 | 1.05 | 3.16 | 10.39 | |||
| ONK | 1.39 | 0.16 | 0.09 | 0.24 | 1.56 | 2.76 | 10.36 | |||
| P5P | 0.99 | (0.03) | 0.00 | 0.32 | 0.00 | 1.99 | 7.10 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Targa Resources without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Targa Resources Corporate Management
Elected by the shareholders, the Targa Resources' board of directors comprises two types of representatives: Targa Resources inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Targa. The board's role is to monitor Targa Resources' management team and ensure that shareholders' interests are well served. Targa Resources' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Targa Resources' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Patrick McDonie | Pres Processing | Profile | |
| Clark White | Ex Operations | Profile | |
| Sanjay Lad | VP Relations | Profile | |
| Matthew Meloy | CEO Director | Profile | |
| Scott Pryor | Pres Transportation | Profile | |
| Jennifer Kneale | Chief Officer | Profile | |
| Regina Gregory | Gen VP | Profile |