AR vs. CL=F

Last updated Jun 3, 2026

AR (Antero Resources Corporation) is a stock, while CL=F (Crude Oil WTI) is an asset. Over the past 10 years, AR returned 2.31%/yr vs 6.75%/yr for CL=F. At a 0.36 correlation, their price movements are largely independent.

Performance

AR vs. CL=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Antero Resources Corporation (AR) and Crude Oil WTI (CL=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AR achieves a 5.22% return, which is significantly lower than CL=F's 62.64% return. Over the past 10 years, AR has underperformed CL=F with an annualized return of 2.31%, while CL=F has yielded a comparatively higher 6.75% annualized return.

AR

• 1D: -1.36%
• 1M: -6.76%
• YTD: 5.22%
• 6M: 4.44%
• 1Y: -6.18%
• 3Y*: 19.37%
• 5Y*: 22.66%
• 10Y*: 2.31%

CL=F

• 1D: 1.33%
• 1M: -8.39%
• YTD: 62.64%
• 6M: 59.26%
• 1Y: 49.38%
• 3Y*: 9.14%
• 5Y*: 6.36%
• 10Y*: 6.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AR vs. CL=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AR Antero Resources Corporation	5.22%	-1.68%	54.54%	-26.82%	77.09%	221.10%	91.23%	-69.65%	-50.58%	-19.66%
CL=F Crude Oil WTI	62.64%	-19.41%	-0.82%	-10.70%	7.44%	53.98%	-19.98%	32.92%	-24.35%	12.51%

Correlation

The correlation between AR and CL=F is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 11, 2013	0.36

Return for Risk

AR vs. CL=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AR

AR Risk / Return Rank: 34
AR Sharpe Ratio Rank: 34
AR Sortino Ratio Rank: 30
AR Omega Ratio Rank: 30
AR Calmar Ratio Rank: 37
AR Martin Ratio Rank: 37

CL=F

CL=F Risk / Return Rank: 28
CL=F Sharpe Ratio Rank: 22
CL=F Sortino Ratio Rank: 34
CL=F Omega Ratio Rank: 24
CL=F Calmar Ratio Rank: 30
CL=F Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AR vs. CL=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Antero Resources Corporation (AR) and Crude Oil WTI (CL=F). 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.

	AR	CL=F	Difference
Sharpe ratio Return per unit of total volatility	-0.16	0.89	-1.05
Sortino ratio Return per unit of downside risk	0.04	1.38	-1.34
Omega ratio Gain probability vs. loss probability	1.00	1.21	-0.21
Calmar ratio Return relative to maximum drawdown	-0.10	1.49	-1.59
Martin ratio Return relative to average drawdown	-0.16	3.14	-3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AR vs. CL=F - Sharpe Ratio Comparison

The current AR Sharpe Ratio is -0.16, which is lower than the CL=F Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of AR and CL=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AR	CL=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	0.89	-1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.16	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.04	0.13	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.06	-0.11

Drawdowns

AR vs. CL=F - Drawdown Comparison

The maximum AR drawdown since its inception was -99.01%, which is greater than CL=F's maximum drawdown of -92.04%. Use the drawdown chart below to compare losses from any high point for AR and CL=F.

Drawdown Indicators

	AR	CL=F	Difference
Max Drawdown Largest peak-to-trough decline	-99.01%	-92.04%	-6.97%
Max Drawdown (1Y) Largest decline over 1 year	-31.77%	-27.07%	-4.70%
Max Drawdown (3Y) Largest decline over 3 years	-33.19%	-39.46%	+6.27%
Max Drawdown (5Y) Largest decline over 5 years	-58.39%	-53.86%	-4.53%
Max Drawdown (10Y) Largest decline over 10 years	-97.78%	-84.82%	-12.96%
Current Drawdown Current decline from peak	-46.21%	-35.72%	-10.49%
Average Drawdown Average peak-to-trough decline	-61.38%	-40.81%	-20.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.46%	12.23%	+8.23%

Volatility

AR vs. CL=F - Volatility Comparison

The current volatility for Antero Resources Corporation (AR) is 10.07%, while Crude Oil WTI (CL=F) has a volatility of 17.06%. This indicates that AR experiences smaller price fluctuations and is considered to be less risky than CL=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AR	CL=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.07%	17.06%	-6.99%
Volatility (6M) Calculated over the trailing 6-month period	27.17%	46.43%	-19.26%
Volatility (1Y) Calculated over the trailing 1-year period	38.81%	49.20%	-10.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.25%	38.88%	+9.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.73%	49.55%	+11.18%

Frequently Asked Questions

Can I hold both AR and CL=F in my portfolio?

AR and CL=F have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AR or CL=F?

CL=F has higher volatility (17.06%) compared to AR (10.07%). In terms of maximum drawdown, AR dropped -99.01% vs CL=F's -92.04%.

Which has better risk-adjusted returns?

CL=F currently has the higher Sharpe Ratio (0.89 vs -0.16), 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.