Oil/Gas Transmission

Atmos Energy Corporation vs Venture Global Inc.

WatchlistATO / VGPrices through Oct 22, 2026

Why these are rivals: #2 and #3 by market value ($32B vs $28B) in Nasdaq's "Oil/Gas Transmission" industry; SEC SIC 4924 / 4924 (same major group); #2 and #3 by market value ($32B vs $28B) with SEC SIC 4924 (Natural Gas Distribution).

Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.

  • Co-movement: daily return correlation, 252 sessions: 0.01 (needs >= 0.60)
  • Mean reversion: ADF t-statistic of the spread: -1.29 (needs <= -2.873 (5% critical value))
Business leadership

VG is the larger business

Annual revenue reported to the SEC. Scale, not market share.

YearATOVGLarger
2025$4.7B$13.8BVG
2024$4.2B$5.0BVG
2023$4.3B$7.9BVG
2022$4.2B--
2021$3.4B--
2020$2.8B--

VG led in every year with figures for both. Market value: ATO $27.8B, VG $32.0B.

Stock leadership

VG is ahead now

Measured against the pair's own last 252 trading days.

VG leads ATO by 0.55 standard deviations: +15.6% over its usual price ratio. 1 lead switch in the last year.

Price change3 mo6 mo12 mo
ATO-3.0%-7.4%-1.8%
VG-10.5%-1.1%+33.3%
Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass
Aligned sessions: 439 (needs >= 254)
Fail
Co-movement: daily return correlation, 252 sessions: 0.01 (needs >= 0.60)
Fail
Mean reversion: ADF t-statistic of the spread: -1.29 (needs <= -2.873 (5% critical value))
Pass
Speed: half-life of the spread, sessions: 44.56 (needs <= 63)
Data
Both stocks current
The twins over two years

Prices side by side, and the gap between them

ATO Atmos Energy Corporation VG Venture Global Inc.Price index, 100 = 2025-01-24. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
50100Jan 2025Dec 2025Oct 2026ATO 125VG 53
Spread z-score: ATO relative to VG, against the 252 sessions before each day. Above 0: ATO ahead; below 0: VG ahead. Lines at +/-2 (idea) and +/-4 (stop).
-4stop-2idea0+2idea+4stopJan 2025Dec 2025Oct 2026
Data table (439 sessions)
DateATO indexVG indexzAhead
2026-10-22124.6653.38-0.55VG ahead
2026-10-21119.6753.54-0.72VG ahead
2026-10-20119.8052.54-0.65VG ahead
2026-10-19118.0853.38-0.77VG ahead
2026-10-16119.9553.00-0.69VG ahead
2026-10-15117.5252.08-0.70VG ahead
2026-10-14117.5155.29-0.94VG ahead
2026-10-13117.1757.67-1.11VG ahead
2026-10-12116.3954.71-0.94VG ahead
2026-10-09115.8854.83-0.97VG ahead
2026-10-08115.1655.38-1.03VG ahead
2026-10-07114.1254.38-1.00VG ahead
2026-10-06114.5056.29-1.12VG ahead
2026-10-05113.2956.04-1.14VG ahead
2026-10-02112.6654.71-1.07VG ahead
2026-10-01112.0953.21-0.99VG ahead
2026-09-30112.1452.67-0.94VG ahead
2026-09-29112.9752.25-0.88VG ahead
2026-09-28112.5753.71-1.00VG ahead
2026-09-25112.6952.58-0.91VG ahead
2026-09-24112.1255.13-1.11VG ahead
2026-09-23111.9955.29-1.12VG ahead
2026-09-22112.7853.79-0.99VG ahead
2026-09-21113.4556.92-1.18VG ahead
2026-09-18114.9058.42-1.23VG ahead
2026-09-17116.1460.08-1.30VG ahead
2026-09-16116.0961.04-1.37VG ahead
2026-09-15116.1563.71-1.53VG ahead
2026-09-14117.4463.63-1.49VG ahead
2026-09-11116.9765.83-1.64VG ahead
2026-09-10118.1364.58-1.54VG ahead
2026-09-09119.4163.71-1.45VG ahead
2026-09-08120.4761.38-1.28VG ahead
2026-09-04120.1160.08-1.21VG ahead
2026-09-03121.2260.33-1.19VG ahead
2026-09-02120.1961.38-1.30VG ahead
2026-09-01120.2162.96-1.40VG ahead
2026-08-31119.0861.00-1.32VG ahead
2026-08-28119.4559.08-1.19VG ahead
2026-08-27119.8660.33-1.26VG ahead
2026-08-26121.4759.58-1.16VG ahead
2026-08-25120.1158.63-1.14VG ahead
2026-08-24120.2959.96-1.23VG ahead
2026-08-21119.6059.21-1.21VG ahead
2026-08-20122.2359.54-1.15VG ahead
2026-08-19122.7957.46-0.99VG ahead
2026-08-18122.2259.17-1.13VG ahead
2026-08-17121.7857.29-1.02VG ahead
2026-08-14121.8058.29-1.08VG ahead
2026-08-13121.8356.42-0.96VG ahead
2026-08-12121.5657.17-1.02VG ahead
2026-08-11121.2955.08-0.88VG ahead
2026-08-10120.3659.42-1.21VG ahead
2026-08-07121.9955.25-0.87VG ahead
2026-08-06123.2756.58-0.92VG ahead
2026-08-05123.4351.79-0.56VG ahead
2026-08-04123.7553.50-0.67VG ahead
2026-08-03123.9354.50-0.73VG ahead
2026-07-31123.8555.75-0.81VG ahead
2026-07-30124.9155.17-0.73VG ahead
2026-07-29127.3554.38-0.59VG ahead
2026-07-28128.5850.71-0.29near the usual relationship
2026-07-27127.7553.42-0.50VG ahead
2026-07-24128.4659.63-0.89VG ahead
2026-07-23127.6263.17-1.12VG ahead
2026-07-22127.9361.75-1.03VG ahead
2026-07-21125.4758.58-0.89VG ahead
2026-07-20127.1159.54-0.90VG ahead
2026-07-17127.3657.50-0.75VG ahead
2026-07-16127.6252.79-0.42near the usual relationship
2026-07-15125.4253.79-0.55VG ahead
2026-07-14127.9155.13-0.55VG ahead
2026-07-13128.6655.67-0.56VG ahead
2026-07-10126.3051.00-0.30near the usual relationship
2026-07-09125.2452.21-0.41near the usual relationship
2026-07-08126.9451.58-0.31near the usual relationship
2026-07-07127.2948.29-0.06near the usual relationship
2026-07-06124.6045.21+0.10near the usual relationship
2026-07-02126.7846.38+0.07near the usual relationship
2026-07-01124.0345.96+0.04near the usual relationship
2026-06-30123.4846.38+0.00near the usual relationship
2026-06-29125.3246.46+0.05near the usual relationship
2026-06-26125.5645.63+0.12near the usual relationship
2026-06-25124.4945.13+0.14near the usual relationship
2026-06-24123.7143.79+0.22near the usual relationship
2026-06-23122.6446.71-0.01near the usual relationship
2026-06-22121.5646.92-0.05near the usual relationship
2026-06-18121.9345.92+0.04near the usual relationship
2026-06-17121.6046.04+0.03near the usual relationship
2026-06-16121.5946.21+0.02near the usual relationship
2026-06-15121.5748.75-0.14near the usual relationship
2026-06-12121.8354.50-0.49near the usual relationship
2026-06-11120.5953.13-0.43near the usual relationship
2026-06-10121.3355.38-0.54VG ahead
2026-06-09120.1551.96-0.36near the usual relationship
2026-06-08120.3453.50-0.45near the usual relationship
2026-06-05122.0353.33-0.39near the usual relationship
2026-06-04120.3954.83-0.51VG ahead
2026-06-03120.6452.17-0.35near the usual relationship
2026-06-02120.9651.54-0.31near the usual relationship
2026-06-01119.8152.83-0.41near the usual relationship
2026-05-29121.2350.17-0.21near the usual relationship
2026-05-28124.0352.25-0.27near the usual relationship
2026-05-27126.3351.54-0.17near the usual relationship
2026-05-26127.3953.71-0.27near the usual relationship
2026-05-22127.4557.63-0.49near the usual relationship
2026-05-21127.2056.50-0.44near the usual relationship
2026-05-20126.1658.46-0.57VG ahead
2026-05-19127.4061.58-0.71VG ahead
2026-05-18127.9659.04-0.57VG ahead
2026-05-15126.5059.29-0.62VG ahead
2026-05-14129.6554.21-0.26near the usual relationship
2026-05-13128.9954.17-0.28near the usual relationship
2026-05-12130.4155.29-0.31near the usual relationship
2026-05-11130.5548.42+0.11near the usual relationship
2026-05-08129.6547.71+0.13near the usual relationship
2026-05-07130.3648.71+0.08near the usual relationship
2026-05-06132.4350.00+0.05near the usual relationship
2026-05-05134.2254.25-0.17near the usual relationship
2026-05-04134.5957.38-0.34near the usual relationship
2026-05-01135.1453.04-0.08near the usual relationship
2026-04-30136.1855.29-0.19near the usual relationship
2026-04-29133.1254.83-0.24near the usual relationship
2026-04-28134.1350.67+0.03near the usual relationship
2026-04-27133.0550.79-0.01near the usual relationship
2026-04-24132.9349.58+0.06near the usual relationship
2026-04-23134.6253.96-0.16near the usual relationship
2026-04-22130.8151.42-0.11near the usual relationship
2026-04-21131.1250.38-0.04near the usual relationship
2026-04-20133.4947.71+0.19near the usual relationship
2026-04-17133.7147.75+0.19near the usual relationship
2026-04-16134.7452.83-0.11near the usual relationship
2026-04-15133.5150.75-0.01near the usual relationship
2026-04-14134.8752.13-0.07near the usual relationship
2026-04-13134.5853.13-0.13near the usual relationship
2026-04-10136.4554.04-0.15near the usual relationship
2026-04-09137.8354.13-0.12near the usual relationship
2026-04-08135.9560.17-0.50VG ahead
2026-04-07135.2666.63-0.83VG ahead
2026-04-06134.6266.42-0.84VG ahead
2026-04-02135.4561.00-0.56VG ahead
2026-04-01132.9661.17-0.63VG ahead
2026-03-31132.4165.67-0.87VG ahead
2026-03-30132.6270.38-1.09VG ahead
2026-03-27131.3173.04-1.24VG ahead
2026-03-26131.3070.08-1.11VG ahead
2026-03-25130.1369.63-1.13VG ahead
2026-03-24130.1569.17-1.11VG ahead
2026-03-23129.7665.83-0.97VG ahead
2026-03-20129.3765.88-0.98VG ahead
2026-03-19132.5459.54-0.59VG ahead
2026-03-18132.7961.88-0.70VG ahead
2026-03-17134.0354.04-0.25near the usual relationship
2026-03-16134.6351.17-0.06near the usual relationship
2026-03-13135.1754.58-0.25near the usual relationship
2026-03-12133.8953.21-0.20near the usual relationship
2026-03-11132.1151.92-0.17near the usual relationship
2026-03-10131.4947.50+0.10near the usual relationship
2026-03-09132.7847.96+0.10near the usual relationship
2026-03-06132.6452.00-0.16near the usual relationship
2026-03-05132.8851.17-0.10near the usual relationship
2026-03-04133.8846.50+0.23near the usual relationship
2026-03-03133.3247.75+0.14near the usual relationship
2026-03-02134.0947.42+0.19near the usual relationship
2026-02-27133.8940.38+0.69ATO ahead
2026-02-26131.6239.46+0.71ATO ahead
2026-02-25130.5038.79+0.74ATO ahead
2026-02-24130.4738.96+0.73ATO ahead
2026-02-23130.2639.29+0.71ATO ahead
2026-02-20129.7240.38+0.62ATO ahead
2026-02-19128.2841.21+0.53ATO ahead
2026-02-18127.6839.79+0.63ATO ahead
2026-02-17129.2036.54+0.93ATO ahead
2026-02-13128.4939.00+0.72ATO ahead
2026-02-12127.4238.67+0.73ATO ahead
2026-02-11126.1340.75+0.55ATO ahead
2026-02-10124.8442.25+0.42near the usual relationship
2026-02-09122.9042.38+0.37near the usual relationship
2026-02-06122.8441.25+0.45near the usual relationship
2026-02-05122.9338.83+0.63ATO ahead
2026-02-04123.1740.04+0.56ATO ahead
2026-02-03121.0039.50+0.55ATO ahead
2026-02-02119.3637.58+0.66ATO ahead
2026-01-30119.2340.83+0.43near the usual relationship
2026-01-29118.9940.29+0.47near the usual relationship
2026-01-28118.9939.63+0.52ATO ahead
2026-01-27121.1637.13n/a
2026-01-26120.7839.08n/a
2026-01-23118.5141.17n/a
2026-01-22118.5639.71n/a
2026-01-21120.6937.71n/a
2026-01-20120.4235.33n/a
2026-01-16122.1936.67n/a
2026-01-15122.0633.17n/a
2026-01-14120.9433.00n/a
2026-01-13120.7232.83n/a
2026-01-12120.1430.75n/a
2026-01-09119.5530.13n/a
2026-01-08119.7831.33n/a
2026-01-07119.1028.42n/a
2026-01-06120.0929.00n/a
2026-01-05119.6228.46n/a
2026-01-02121.4029.33n/a
2025-12-31120.1628.42n/a
2025-12-30120.8429.21n/a
2025-12-29120.9829.25n/a
2025-12-26120.5128.96n/a
2025-12-24120.7130.13n/a
2025-12-23120.4129.29n/a
2025-12-22119.9527.54n/a
2025-12-19119.4926.46n/a
2025-12-18121.4425.25n/a
2025-12-17121.2624.75n/a
2025-12-16120.4224.67n/a
2025-12-15122.3924.71n/a
2025-12-12120.6925.63n/a
2025-12-11119.7726.00n/a
2025-12-10119.5625.29n/a
2025-12-09119.1927.63n/a
2025-12-08119.7527.50n/a
2025-12-05122.7828.42n/a
2025-12-04122.5429.25n/a
2025-12-03122.6828.71n/a
2025-12-02121.9127.63n/a
2025-12-01123.0928.67n/a
2025-11-28126.4231.08n/a
2025-11-26125.9729.71n/a
2025-11-25124.2528.71n/a
2025-11-24125.1229.33n/a
2025-11-21125.5530.21n/a
2025-11-20125.2729.79n/a
2025-11-19124.6632.38n/a
2025-11-18125.6032.92n/a
2025-11-17125.9333.79n/a
2025-11-14125.5333.25n/a
2025-11-13127.5732.75n/a
2025-11-12127.4733.88n/a
2025-11-11128.0631.38n/a
2025-11-10127.4235.38n/a
2025-11-07126.8133.29n/a
2025-11-06125.7832.29n/a
2025-11-05123.7132.29n/a
2025-11-04124.6933.21n/a
2025-11-03123.7934.83n/a
2025-10-31123.0935.71n/a
2025-10-30124.2635.75n/a
2025-10-29123.0436.67n/a
2025-10-28125.0739.13n/a
2025-10-27126.4139.00n/a
2025-10-24126.1139.54n/a
2025-10-23125.9840.17n/a
2025-10-22126.9439.75n/a
2025-10-21126.9040.04n/a
2025-10-20127.4038.71n/a
2025-10-17126.4537.00n/a
2025-10-16126.4238.04n/a
2025-10-15128.4438.08n/a
2025-10-14127.3437.50n/a
2025-10-13125.8337.67n/a
2025-10-10126.5039.38n/a
2025-10-09125.3952.42n/a
2025-10-08125.9854.29n/a
2025-10-07125.3753.75n/a
2025-10-06124.2358.12n/a
2025-10-03121.9958.12n/a
2025-10-02121.0357.42n/a
2025-10-01121.4161.33n/a
2025-09-30122.3959.12n/a
2025-09-29121.5359.25n/a
2025-09-26120.7461.79n/a
2025-09-25119.3261.46n/a
2025-09-24119.5460.54n/a
2025-09-23119.2360.71n/a
2025-09-22116.8159.25n/a
2025-09-19116.7955.21n/a
2025-09-18116.4457.67n/a
2025-09-17117.1658.12n/a
2025-09-16116.9958.75n/a
2025-09-15118.8556.88n/a
2025-09-12119.3756.67n/a
2025-09-11119.2757.29n/a
2025-09-10117.4958.21n/a
2025-09-09117.6055.38n/a
2025-09-08117.4656.50n/a
2025-09-05119.3353.50n/a
2025-09-04118.1253.63n/a
2025-09-03118.4353.00n/a
2025-09-02118.6054.17n/a
2025-08-29119.0854.17n/a
2025-08-28118.5853.42n/a
2025-08-27119.1754.17n/a
2025-08-26119.0053.67n/a
2025-08-25118.5955.63n/a
2025-08-22120.5753.58n/a
2025-08-21119.5553.21n/a
2025-08-20119.0552.33n/a
2025-08-19118.8551.04n/a
2025-08-18117.5751.58n/a
2025-08-15118.5452.04n/a
2025-08-14119.0857.13n/a
2025-08-13119.6956.83n/a
2025-08-12118.7950.75n/a
2025-08-11118.3050.29n/a
2025-08-08117.7651.46n/a
2025-08-07116.6456.96n/a
2025-08-06112.5559.71n/a
2025-08-05112.2761.54n/a
2025-08-04114.2962.21n/a
2025-08-01111.6862.17n/a
2025-07-31111.7663.88n/a
2025-07-30111.9664.00n/a
2025-07-29111.9065.29n/a
2025-07-28110.8763.21n/a
2025-07-25112.4260.67n/a
2025-07-24113.0560.25n/a
2025-07-23112.6061.50n/a
2025-07-22113.8162.75n/a
2025-07-21113.4163.21n/a
2025-07-18112.2966.25n/a
2025-07-17111.3067.83n/a
2025-07-16110.9867.92n/a
2025-07-15110.4669.00n/a
2025-07-14111.3969.92n/a
2025-07-11110.5274.50n/a
2025-07-10110.6570.25n/a
2025-07-09109.7468.42n/a
2025-07-08108.9565.67n/a
2025-07-07109.5263.17n/a
2025-07-03109.1564.83n/a
2025-07-02108.6064.42n/a
2025-07-01110.1462.17n/a
2025-06-30110.4764.92n/a
2025-06-27109.3065.38n/a
2025-06-26109.6169.88n/a
2025-06-25109.4867.33n/a
2025-06-24112.1469.67n/a
2025-06-23112.0968.92n/a
2025-06-20110.0779.21n/a
2025-06-18109.2376.17n/a
2025-06-17109.1773.79n/a
2025-06-16108.9872.50n/a
2025-06-13109.6673.50n/a
2025-06-12110.7469.63n/a
2025-06-11109.2969.83n/a
2025-06-10109.6671.00n/a
2025-06-09108.9365.58n/a
2025-06-06109.0863.42n/a
2025-06-05109.2058.79n/a
2025-06-04109.0662.13n/a
2025-06-03110.8259.50n/a
2025-06-02110.8549.13n/a
2025-05-30110.8748.21n/a
2025-05-29110.6349.38n/a
2025-05-28110.1949.92n/a
2025-05-27112.1751.58n/a
2025-05-23112.7447.46n/a
2025-05-22111.3145.75n/a
2025-05-21112.5143.33n/a
2025-05-20114.0443.33n/a
2025-05-19114.6742.12n/a
2025-05-16113.0240.79n/a
2025-05-15111.8041.00n/a
2025-05-14109.1342.33n/a
2025-05-13110.1444.67n/a
2025-05-12111.2741.29n/a
2025-05-09114.5938.96n/a
2025-05-08115.5838.17n/a
2025-05-07116.5937.50n/a
2025-05-06116.0936.25n/a
2025-05-05115.6935.63n/a
2025-05-02115.7636.75n/a
2025-05-01114.8236.25n/a
2025-04-30115.1434.96n/a
2025-04-29114.4635.83n/a
2025-04-28113.7835.96n/a
2025-04-25113.3535.96n/a
2025-04-24114.4536.29n/a
2025-04-23114.3937.38n/a
2025-04-22114.7735.83n/a
2025-04-21112.2135.63n/a
2025-04-17112.9235.92n/a
2025-04-16112.0437.00n/a
2025-04-15112.0134.54n/a
2025-04-14111.0935.08n/a
2025-04-11108.5834.50n/a
2025-04-10107.0132.54n/a
2025-04-09106.7236.38n/a
2025-04-08105.2632.58n/a
2025-04-07103.9829.17n/a
2025-04-04105.9531.17n/a
2025-04-03111.3137.42n/a
2025-04-02111.2541.50n/a
2025-04-01111.0641.67n/a
2025-03-31110.8042.92n/a
2025-03-28109.2841.46n/a
2025-03-27108.1944.38n/a
2025-03-26107.6346.83n/a
2025-03-25106.3347.79n/a
2025-03-24107.2648.21n/a
2025-03-21106.5448.37n/a
2025-03-20108.1149.08n/a
2025-03-19108.0646.67n/a
2025-03-18107.9245.38n/a
2025-03-17108.5847.04n/a
2025-03-14107.4444.63n/a
2025-03-13105.3940.33n/a
2025-03-12105.4842.71n/a
2025-03-11106.5640.29n/a
2025-03-10107.4637.29n/a
2025-03-07106.5238.46n/a
2025-03-06104.9037.92n/a
2025-03-05106.1959.29n/a
2025-03-04107.3457.38n/a
2025-03-03110.1257.96n/a
2025-02-28109.0562.88n/a
2025-02-27107.2658.00n/a
2025-02-26107.5159.17n/a
2025-02-25107.8058.79n/a
2025-02-24107.6963.25n/a
2025-02-21107.4564.04n/a
2025-02-20105.8168.92n/a
2025-02-19106.5267.13n/a
2025-02-18106.1370.54n/a
2025-02-14105.0266.50n/a
2025-02-13106.0763.71n/a
2025-02-12104.9063.46n/a
2025-02-11103.9968.75n/a
2025-02-10101.9971.71n/a
2025-02-07102.1473.08n/a
2025-02-06102.5972.83n/a
2025-02-05103.9882.00n/a
2025-02-04102.0785.21n/a
2025-02-03102.7989.33n/a
2025-01-31102.1585.21n/a
2025-01-30102.2984.92n/a
2025-01-29101.0983.13n/a
2025-01-28101.4083.33n/a
2025-01-27102.3983.04n/a
2025-01-24100.00100.00n/a

No one-day company-specific move of 4+ standard deviations in this window. Upcoming earnings: ATO Nov 4, 2026 (after-hours).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

No paper position on this pair yet.

Historical simulation (a diagnostic, same rules)

No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

ATO and VG at a glance

ATO Atmos Energy Corporation

Listing
NYSE · SEC CIK 731802
Industry
Oil/Gas Transmission · SIC 4924 Natural Gas Distribution
Market value
$27.8B
Price history
2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

VG Venture Global Inc.

Listing
NYSE · SEC CIK 2007855
Industry
Oil/Gas Transmission · SIC 4924 Natural Gas Distribution
Market value
$32.0B
Price history
439 daily closes, Jan 24, 2025 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

Related
All pairs →
PairStatusAhead nowIndustry
LNG / ATOWatchlistLNG by 1.32 sdOil/Gas Transmission
LNG / VGWatchlistneitherOil/Gas Transmission

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Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.