We consider the two-species totally asymmetric simple exclusion process on \(\mathbb {Z}\) with a translation-invariant stationary measure as the initial condition. We establish the asymptotic decoupling of the marginal height profiles along characteristic lines and prove the decay of the two-point functions in the large-time limit, thus confirming predictions of the nonlinear fluctuating hydrodynamics theory. Our approach builds on the queueing construction of the stationary measure introduced in [7, 32] and extends the theory of backwards paths for height functions developed in [14, 35]. The arguments for asymptotic decoupling also apply to further homogeneous initial data, and the decay of the two-point functions is proven for the stationary two-species asymmetric simple exclusion process, beyond the totally asymmetric case.