APA vs. CVX
APA (Apache Corporation) and CVX (Chevron Corporation) are both stocks. Both are in the Energy sector — APA in Oil & Gas E&P, CVX in Oil & Gas Integrated. Over the past 10 years, APA returned -0.37%/yr vs 11.68%/yr for CVX. Their 0.69 correlation means they have sometimes moved together and sometimes differently.
Performance
APA vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, APA achieves a 56.15% return, which is significantly higher than CVX's 31.60% return. Over the past 10 years, APA has underperformed CVX with an annualized return of -0.37%, while CVX has yielded a comparatively higher 11.68% annualized return.
APA
- 1D
- 2.73%
- 1M
- 16.14%
- 6M
- 43.26%
- YTD
- 56.15%
- 1Y
- 109.22%
- 3Y*
- 1.31%
- 5Y*
- 18.29%
- 10Y*
- -0.37%
- ALL TIME*
- 7.06%
CVX
- 1D
- 2.35%
- 1M
- 16.33%
- 6M
- 13.38%
- YTD
- 31.60%
- 1Y
- 35.45%
- 3Y*
- 11.23%
- 5Y*
- 18.87%
- 10Y*
- 11.68%
- ALL TIME*
- 10.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $192.19M | $184.54M | $211.90M | |
| $1.44B | $1.41B | $1.67B |
APA vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APA Apache Corporation | 56.15% | 11.54% | -33.44% | -21.24% | 76.44% | 90.76% | -43.71% | 1.12% | -36.39% | -32.13% |
CVX Chevron Corporation | 31.60% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between APA and CVX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.69 |
The correlation between APA and CVX has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.
Fundamentals
APA:
$13.19B
CVX:
$392.09B
APA:
$4.30
CVX:
$10.42
APA:
8.68
CVX:
18.89
APA:
0.11
CVX:
1.84
APA:
1.55
CVX:
1.86
APA:
2.05
CVX:
2.05
APA:
$8.61B
CVX:
$208.71B
APA:
$4.64B
CVX:
$64.69B
APA:
$5.63B
CVX:
$55.77B
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Return for Risk
APA vs. CVX — Risk / Return Rank
APA
CVX
APA vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Apache Corporation (APA) and Chevron Corporation (CVX). 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.
| APA | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 1.70 | +1.93 |
| Martin ratioReturn relative to average drawdown | 9.20 | 4.61 | +4.59 |
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Drawdowns
APA vs. CVX - Drawdown Comparison
The maximum APA drawdown since its inception was -96.73%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for APA and CVX.
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Drawdown Indicators
| APA | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.73% | -55.77% | -40.96% |
Max Drawdown (1Y)Largest decline over 1 year | -27.72% | -20.81% | -6.91% |
Max Drawdown (3Y)Largest decline over 3 years | -67.45% | -20.81% | -46.64% |
Max Drawdown (5Y)Largest decline over 5 years | -70.47% | -24.95% | -45.52% |
Max Drawdown (10Y)Largest decline over 10 years | -93.49% | -55.77% | -37.72% |
Current DrawdownCurrent decline from peak | -64.31% | -5.93% | -58.38% |
Average DrawdownAverage peak-to-trough decline | -40.42% | -11.40% | -29.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.94% | 7.66% | +3.28% |
Volatility
APA vs. CVX - Volatility Comparison
Apache Corporation (APA) has a higher volatility of 11.68% compared to Chevron Corporation (CVX) at 6.84%. This indicates that APA's price experiences larger fluctuations and is considered to be riskier than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APA | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.68% | 6.84% | +4.84% |
Volatility (6M)Calculated over the trailing 6-month period | 33.32% | 18.21% | +15.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.97% | 22.82% | +23.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.41% | 25.15% | +23.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.40% | 29.24% | +29.16% |
Dividends
APA vs. CVX - Dividend Comparison
APA's dividend yield for the trailing twelve months is around 2.68%, less than CVX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APA Apache Corporation | 2.68% | 4.09% | 4.33% | 2.79% | 1.34% | 0.51% | 2.29% | 3.91% | 3.81% | 2.37% | 1.58% | 2.25% |
CVX Chevron Corporation | 3.55% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
Financials
APA vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between Apache Corporation and Chevron 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
APA vs. CVX - Profitability Comparison
APA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Apache Corporation reported a gross profit of 2.25B and revenue of 2.33B. Therefore, the gross margin over that period was 96.8%.
CVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Chevron Corporation reported a gross profit of 30.59B and revenue of 67.20B. Therefore, the gross margin over that period was 45.5%.
APA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Apache Corporation reported an operating income of 999.00M and revenue of 2.33B, resulting in an operating margin of 42.9%.
CVX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Chevron Corporation reported an operating income of 21.48B and revenue of 67.20B, resulting in an operating margin of 32.0%.
APA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Apache Corporation reported a net income of 446.00M and revenue of 2.33B, resulting in a net margin of 19.2%.
CVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Chevron Corporation reported a net income of 12.07B and revenue of 67.20B, resulting in a net margin of 18.0%.
Frequently Asked Questions
APA and CVX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APA has higher volatility (11.68%) compared to CVX (6.84%). In terms of maximum drawdown, APA dropped -96.73% vs CVX's -55.77%.
APA currently has the higher Sharpe Ratio (2.19 vs 1.55), 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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