THC vs. TRGP
THC (Tenet Healthcare Corporation) and TRGP (Targa Resources Corp.) are both stocks. THC operates in Medical Care Facilities (Healthcare), while TRGP operates in Oil & Gas Midstream (Energy). Over the past 10 years, THC returned 20.25%/yr vs 26.71%/yr for TRGP. At a 0.31 correlation, their price movements are largely independent.
Performance
THC vs. TRGP - Performance Comparison
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Returns By Period
In the year-to-date period, THC achieves a -12.11% return, which is significantly lower than TRGP's 49.23% return. Over the past 10 years, THC has underperformed TRGP with an annualized return of 20.25%, while TRGP has yielded a comparatively higher 26.71% annualized return.
THC
- 1D
- 0.86%
- 1M
- -12.03%
- YTD
- -12.11%
- 6M
- -12.41%
- 1Y
- 6.26%
- 3Y*
- 32.22%
- 5Y*
- 20.49%
- 10Y*
- 20.25%
TRGP
- 1D
- 1.20%
- 1M
- 1.91%
- YTD
- 49.23%
- 6M
- 50.30%
- 1Y
- 59.50%
- 3Y*
- 60.15%
- 5Y*
- 45.14%
- 10Y*
- 26.71%
THC vs. TRGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
THC Tenet Healthcare Corporation | -12.11% | 57.43% | 67.04% | 54.89% | -40.27% | 104.58% | 5.00% | 121.88% | 13.06% | 2.16% |
TRGP Targa Resources Corp. | 49.23% | 5.65% | 110.12% | 21.01% | 43.71% | 100.15% | -32.48% | 23.98% | -19.88% | -7.09% |
Correlation
The correlation between THC and TRGP is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2010 | 0.31 |
Over the past year, the correlation between THC and TRGP has dropped to 0.01 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
THC:
$21.43
TRGP:
$13.11
THC:
8.15
TRGP:
20.79
THC:
0.08
TRGP:
0.23
THC:
0.72
TRGP:
2.70
THC:
$21.46B
TRGP:
$16.38B
THC:
$12.91B
TRGP:
$3.62B
THC:
$4.00B
TRGP:
$4.49B
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Return for Risk
THC vs. TRGP — Risk / Return Rank
THC
TRGP
THC vs. TRGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tenet Healthcare Corporation (THC) and Targa Resources Corp. (TRGP). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| THC | TRGP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.37 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 4.00 | -3.84 |
| Martin ratioReturn relative to average drawdown | 0.41 | 13.02 | -12.60 |
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Drawdowns
THC vs. TRGP - Drawdown Comparison
The maximum THC drawdown since its inception was -98.28%, roughly equal to the maximum TRGP drawdown of -95.21%. Use the drawdown chart below to compare losses from any high point for THC and TRGP.
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Drawdown Indicators
| THC | TRGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.28% | -95.21% | -3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -34.08% | -16.30% | -17.78% |
Max Drawdown (3Y)Largest decline over 3 years | -36.90% | -31.61% | -5.29% |
Max Drawdown (5Y)Largest decline over 5 years | -58.88% | -31.61% | -27.27% |
Max Drawdown (10Y)Largest decline over 10 years | -71.68% | -90.78% | +19.10% |
Current DrawdownCurrent decline from peak | -28.65% | -1.50% | -27.15% |
Average DrawdownAverage peak-to-trough decline | -51.54% | -33.55% | -17.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 5.00% | +8.32% |
Volatility
THC vs. TRGP - Volatility Comparison
Tenet Healthcare Corporation (THC) has a higher volatility of 11.64% compared to Targa Resources Corp. (TRGP) at 7.77%. This indicates that THC's price experiences larger fluctuations and is considered to be riskier than TRGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| THC | TRGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.64% | 7.77% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 28.04% | 18.59% | +9.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.91% | 27.29% | +11.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.34% | 31.90% | +12.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.28% | 47.62% | +8.66% |
Dividends
THC vs. TRGP - Dividend Comparison
THC has not paid dividends to shareholders, while TRGP's dividend yield for the trailing twelve months is around 1.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
THC Tenet Healthcare Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRGP Targa Resources Corp. | 1.56% | 2.03% | 1.54% | 2.13% | 1.90% | 0.77% | 4.59% | 8.92% | 10.11% | 7.52% | 6.49% | 12.53% |
Financials
THC vs. TRGP - Financials Comparison
This section allows you to compare key financial metrics between Tenet Healthcare Corporation and Targa Resources Corp.. 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
THC vs. TRGP - Profitability Comparison
THC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tenet Healthcare Corporation reported a gross profit of 3.19B and revenue of 5.37B. Therefore, the gross margin over that period was 59.5%.
TRGP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Targa Resources Corp. reported a gross profit of 0.00 and revenue of 4.09B. Therefore, the gross margin over that period was 0.0%.
THC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tenet Healthcare Corporation reported an operating income of 1.30B and revenue of 5.37B, resulting in an operating margin of 24.1%.
TRGP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Targa Resources Corp. reported an operating income of 846.90M and revenue of 4.09B, resulting in an operating margin of 20.7%.
THC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tenet Healthcare Corporation reported a net income of 906.00M and revenue of 5.37B, resulting in a net margin of 16.9%.
TRGP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Targa Resources Corp. reported a net income of 479.60M and revenue of 4.09B, resulting in a net margin of 11.7%.
Frequently Asked Questions
THC and TRGP have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THC has higher volatility (11.64%) compared to TRGP (7.77%). In terms of maximum drawdown, THC dropped -98.28% vs TRGP's -95.21%.
TRGP currently has the higher Sharpe Ratio (2.39 vs 0.14), 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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