CL=F vs. CVX

Last updated Apr 2, 2026

Compare and contrast key facts about Crude Oil WTI (CL=F) and Chevron Corporation (CVX).

Performance

CL=F vs. CVX - Performance Comparison

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

CL=F vs. CVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CL=F Crude Oil WTI	72.26%	-19.41%	-0.82%	-10.70%	7.44%	53.98%	-19.98%	32.92%	-24.35%	12.51%
CVX Chevron Corporation	30.79%	10.10%	1.29%	-13.63%	58.46%	46.24%	-25.95%	15.27%	-9.75%	10.59%

Returns By Period

In the year-to-date period, CL=F achieves a 72.26% return, which is significantly higher than CVX's 30.79% return. Over the past 10 years, CL=F has underperformed CVX with an annualized return of 10.40%, while CVX has yielded a comparatively higher 12.35% annualized return.

CL=F

• 1D: -2.44%
• 1M: 38.86%
• YTD: 72.26%
• 6M: 60.10%
• 1Y: 38.92%
• 3Y*: 9.28%
• 5Y*: 9.98%
• 10Y*: 10.40%

CVX

• 1D: -4.59%
• 1M: 4.12%
• YTD: 30.79%
• 6M: 30.40%
• 1Y: 22.42%
• 3Y*: 11.16%
• 5Y*: 18.11%
• 10Y*: 12.35%

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

Return for Risk

CL=F vs. CVX — Risk / Return Rank

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

CL=F

CL=F Risk / Return Rank: 29
CL=F Sharpe Ratio Rank: 29
CL=F Sortino Ratio Rank: 39
CL=F Omega Ratio Rank: 22
CL=F Calmar Ratio Rank: 37
CL=F Martin Ratio Rank: 17

CVX

CVX Risk / Return Rank: 64
CVX Sharpe Ratio Rank: 70
CVX Sortino Ratio Rank: 61
CVX Omega Ratio Rank: 63
CVX Calmar Ratio Rank: 64
CVX Martin Ratio Rank: 63

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.

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

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

	CL=F	CVX	Difference
Sharpe ratio Return per unit of total volatility	0.83	0.89	-0.06
Sortino ratio Return per unit of downside risk	1.35	1.26	+0.09
Omega ratio Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio Return relative to maximum drawdown	2.08	1.13	+0.95
Martin ratio Return relative to average drawdown	3.45	2.44	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CL=F vs. CVX - Sharpe Ratio Comparison

The current CL=F Sharpe Ratio is 0.83, which is comparable to the CVX Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of CL=F and CVX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CL=F	CVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.89	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.73	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.43	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.38	-0.32

Correlation

The correlation between CL=F and CVX is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

CL=F vs. CVX - Drawdown Comparison

The maximum CL=F drawdown since its inception was -92.04%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for CL=F and CVX.

Drawdown Indicators

	CL=F	CVX	Difference
Max Drawdown Largest peak-to-trough decline	-92.04%	-55.77%	-36.27%
Max Drawdown (1Y) Largest decline over 1 year	-27.07%	-19.67%	-7.40%
Max Drawdown (5Y) Largest decline over 5 years	-53.86%	-24.95%	-28.91%
Max Drawdown (10Y) Largest decline over 10 years	-84.82%	-55.77%	-29.05%
Current Drawdown Current decline from peak	-31.92%	-6.51%	-25.41%
Average Drawdown Average peak-to-trough decline	-40.84%	-11.40%	-29.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.32%	9.57%	+6.75%

Volatility

CL=F vs. CVX - Volatility Comparison

Crude Oil WTI (CL=F) has a higher volatility of 27.34% compared to Chevron Corporation (CVX) at 7.94%. This indicates that CL=F'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.

Volatility by Period

	CL=F	CVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.34%	7.94%	+19.40%
Volatility (6M) Calculated over the trailing 6-month period	33.40%	15.54%	+17.86%
Volatility (1Y) Calculated over the trailing 1-year period	41.12%	25.44%	+15.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.54%	25.05%	+11.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.71%	29.02%	+19.69%