COP vs. DVN
COP (ConocoPhillips Company) and DVN (Devon Energy Corporation) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 10 years, COP returned 13.23%/yr vs 5.59%/yr for DVN. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
COP vs. DVN - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with COP at 18.98% and DVN at 18.98%. Over the past 10 years, COP has outperformed DVN with an annualized return of 13.23%, while DVN has yielded a comparatively lower 5.59% annualized return.
COP
- 1D
- 1.82%
- 1M
- -8.93%
- YTD
- 18.98%
- 6M
- 19.36%
- 1Y
- 19.69%
- 3Y*
- 6.42%
- 5Y*
- 16.67%
- 10Y*
- 13.23%
DVN
- 1D
- 2.21%
- 1M
- -8.18%
- YTD
- 18.98%
- 6M
- 19.63%
- 1Y
- 28.81%
- 3Y*
- 0.16%
- 5Y*
- 13.27%
- 10Y*
- 5.59%
COP vs. DVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COP ConocoPhillips Company | 18.98% | -2.34% | -12.02% | 1.98% | 71.69% | 86.60% | -36.04% | 6.63% | 15.63% | 11.95% |
DVN Devon Energy Corporation | 18.98% | 15.03% | -25.21% | -23.08% | 50.86% | 199.88% | -35.34% | 16.81% | -45.09% | -8.74% |
Correlation
The correlation between COP and DVN is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 1992 | 0.63 |
Over the past year, COP and DVN have become more correlated (0.83) than their long-term average of 0.63, meaning their price movements have been converging.
Fundamentals
COP:
$5.90
DVN:
$4.54
COP:
18.60
DVN:
9.49
COP:
1.07
DVN:
0.73
COP:
2.34
DVN:
1.67
COP:
$58.31B
DVN:
$12.24B
COP:
$17.02B
DVN:
$2.67B
COP:
$22.44B
DVN:
$5.67B
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Return for Risk
COP vs. DVN — Risk / Return Rank
COP
DVN
COP vs. DVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ConocoPhillips Company (COP) and Devon Energy Corporation (DVN). 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.
| COP | DVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.16 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.56 | -0.51 |
| Martin ratioReturn relative to average drawdown | 2.79 | 4.08 | -1.29 |
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Drawdowns
COP vs. DVN - Drawdown Comparison
The maximum COP drawdown since its inception was -84.55%, smaller than the maximum DVN drawdown of -94.93%. Use the drawdown chart below to compare losses from any high point for COP and DVN.
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Drawdown Indicators
| COP | DVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.55% | -94.93% | +10.38% |
Max Drawdown (1Y)Largest decline over 1 year | -18.88% | -18.53% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -36.19% | -49.22% | +13.03% |
Max Drawdown (5Y)Largest decline over 5 years | -36.19% | -61.45% | +25.26% |
Max Drawdown (10Y)Largest decline over 10 years | -70.66% | -88.51% | +17.85% |
Current DrawdownCurrent decline from peak | -17.40% | -44.52% | +27.12% |
Average DrawdownAverage peak-to-trough decline | -25.48% | -35.94% | +10.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.11% | 7.15% | -0.04% |
Volatility
COP vs. DVN - Volatility Comparison
The current volatility for ConocoPhillips Company (COP) is 9.15%, while Devon Energy Corporation (DVN) has a volatility of 12.05%. This indicates that COP experiences smaller price fluctuations and is considered to be less risky than DVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COP | DVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.15% | 12.05% | -2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 22.91% | 26.05% | -3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.65% | 34.32% | -4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.77% | 40.99% | -8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.66% | 49.63% | -11.97% |
Dividends
COP vs. DVN - Dividend Comparison
COP's dividend yield for the trailing twelve months is around 3.01%, more than DVN's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COP ConocoPhillips Company | 3.01% | 3.40% | 3.35% | 3.37% | 4.23% | 2.70% | 4.23% | 2.05% | 1.86% | 1.93% | 1.99% | 6.30% |
DVN Devon Energy Corporation | 2.42% | 2.62% | 4.43% | 4.55% | 8.41% | 5.24% | 4.30% | 1.35% | 1.33% | 0.58% | 0.92% | 3.00% |
Financials
COP vs. DVN - Financials Comparison
This section allows you to compare key financial metrics between ConocoPhillips Company and Devon Energy 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
COP vs. DVN - Profitability Comparison
COP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported a gross profit of 7.50B and revenue of 16.05B. Therefore, the gross margin over that period was 46.7%.
DVN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Devon Energy Corporation reported a gross profit of 0.00 and revenue of 3.81M. Therefore, the gross margin over that period was 0.0%.
COP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported an operating income of 3.36B and revenue of 16.05B, resulting in an operating margin of 21.0%.
DVN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Devon Energy Corporation reported an operating income of 0.00 and revenue of 3.81M, resulting in an operating margin of 0.0%.
COP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported a net income of 2.18B and revenue of 16.05B, resulting in a net margin of 13.6%.
DVN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Devon Energy Corporation reported a net income of 120.00K and revenue of 3.81M, resulting in a net margin of 3.2%.
Frequently Asked Questions
COP and DVN have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVN has higher volatility (12.05%) compared to COP (9.15%). In terms of maximum drawdown, COP dropped -84.55% vs DVN's -94.93%.
DVN currently has the higher Sharpe Ratio (0.84 vs 0.67), 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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