AM vs. TRP
AM (Antero Midstream Corporation) and TRP (TC Energy Corporation) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, AM returned 7.20%/yr vs 12.07%/yr for TRP. At a 0.40 correlation, their price movements are largely independent.
Performance
AM vs. TRP - Performance Comparison
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Returns By Period
In the year-to-date period, AM achieves a 22.62% return, which is significantly lower than TRP's 25.32% return. Over the past 10 years, AM has underperformed TRP with an annualized return of 7.20%, while TRP has yielded a comparatively higher 12.07% annualized return.
AM
- 1D
- -0.88%
- 1M
- 1.96%
- YTD
- 22.62%
- 6M
- 16.77%
- 1Y
- 19.29%
- 3Y*
- 32.87%
- 5Y*
- 24.10%
- 10Y*
- 7.20%
TRP
- 1D
- -0.63%
- 1M
- 5.41%
- YTD
- 25.32%
- 6M
- 27.56%
- 1Y
- 40.76%
- 3Y*
- 29.68%
- 5Y*
- 14.17%
- 10Y*
- 12.07%
AM vs. TRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 22.62% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
TRP TC Energy Corporation | 25.32% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
Correlation
The correlation between AM and TRP is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2014 | 0.40 |
The correlation between AM and TRP shifts across timeframes, from 0.40 (all time) to 0.54 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AM:
$10.19B
TRP:
$71.12B
AM:
$0.85
TRP:
$3.31
AM:
24.99
TRP:
20.64
AM:
4.31
TRP:
0.28
AM:
8.12
TRP:
4.51
AM:
5.26
TRP:
2.81
AM:
$1.26B
TRP:
$15.76B
AM:
$620.66M
TRP:
$8.07B
AM:
$955.64M
TRP:
$10.90B
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Return for Risk
AM vs. TRP — Risk / Return Rank
AM
TRP
AM vs. TRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Antero Midstream Corporation (AM) and TC Energy Corporation (TRP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AM | TRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.38 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 4.24 | -2.71 |
| Martin ratioReturn relative to average drawdown | 3.18 | 12.62 | -9.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AM | TRP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 2.29 | -1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.65 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.49 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.47 | -0.34 |
Drawdowns
AM vs. TRP - Drawdown Comparison
The maximum AM drawdown since its inception was -93.01%, which is greater than TRP's maximum drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for AM and TRP.
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Drawdown Indicators
| AM | TRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.01% | -62.52% | -30.49% |
Max Drawdown (1Y)Largest decline over 1 year | -12.67% | -9.65% | -3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -17.05% | +3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -21.91% | -37.05% | +15.14% |
Max Drawdown (10Y)Largest decline over 10 years | -93.01% | -41.64% | -51.37% |
Current DrawdownCurrent decline from peak | -8.68% | -3.75% | -4.93% |
Average DrawdownAverage peak-to-trough decline | -31.42% | -11.73% | -19.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.10% | 3.48% | +2.62% |
Volatility
AM vs. TRP - Volatility Comparison
Antero Midstream Corporation (AM) and TC Energy Corporation (TRP) have volatilities of 5.87% and 5.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AM | TRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 5.85% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 14.39% | 13.34% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.88% | 17.92% | +2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.55% | 21.86% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.01% | 24.85% | +17.16% |
Dividends
AM vs. TRP - Dividend Comparison
AM's dividend yield for the trailing twelve months is around 4.22%, more than TRP's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.22% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
TRP TC Energy Corporation | 3.64% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Financials
AM vs. TRP - Financials Comparison
This section allows you to compare key financial metrics between Antero Midstream Corporation and TC Energy Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AM vs. TRP - Profitability Comparison
AM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported a gross profit of 0.00 and revenue of 314.21M. Therefore, the gross margin over that period was 0.0%.
TRP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a gross profit of 2.41B and revenue of 4.24B. Therefore, the gross margin over that period was 56.7%.
AM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported an operating income of 188.61M and revenue of 314.21M, resulting in an operating margin of 60.0%.
TRP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported an operating income of 2.21B and revenue of 4.24B, resulting in an operating margin of 52.1%.
AM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported a net income of 118.27M and revenue of 314.21M, resulting in a net margin of 37.6%.
TRP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TC Energy Corporation reported a net income of 929.40M and revenue of 4.24B, resulting in a net margin of 21.9%.
Frequently Asked Questions
AM and TRP have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (5.87%) compared to TRP (5.85%). In terms of maximum drawdown, AM dropped -93.01% vs TRP's -62.52%.
TRP currently has the higher Sharpe Ratio (2.29 vs 0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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