COP vs. PSX
COP (ConocoPhillips Company) and PSX (Phillips 66) are both stocks. Both are in the Energy sector — COP in Oil & Gas E&P, PSX in Oil & Gas Refining & Marketing. Over the past 10 years, COP returned 13.23%/yr vs 12.05%/yr for PSX. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
COP vs. PSX - Performance Comparison
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Returns By Period
In the year-to-date period, COP achieves a 18.98% return, which is significantly lower than PSX's 32.54% return. Over the past 10 years, COP has outperformed PSX with an annualized return of 13.23%, while PSX has yielded a comparatively lower 12.05% 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%
PSX
- 1D
- 1.37%
- 1M
- -5.22%
- YTD
- 32.54%
- 6M
- 32.59%
- 1Y
- 39.59%
- 3Y*
- 27.13%
- 5Y*
- 18.17%
- 10Y*
- 12.05%
COP vs. PSX - 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% |
PSX Phillips 66 | 32.54% | 17.51% | -11.63% | 33.07% | 49.58% | 8.51% | -33.85% | 33.97% | -12.28% | 20.94% |
Correlation
The correlation between COP and PSX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since May 1, 2012 | 0.63 |
The correlation between COP and PSX has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.
Fundamentals
COP:
$134.38B
PSX:
$67.92B
COP:
$5.90
PSX:
$10.17
COP:
18.60
PSX:
16.56
COP:
1.07
PSX:
0.09
COP:
2.34
PSX:
0.51
COP:
2.08
PSX:
2.38
COP:
$58.31B
PSX:
$134.70B
COP:
$17.02B
PSX:
$5.94B
COP:
$22.44B
PSX:
$9.17B
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Return for Risk
COP vs. PSX — Risk / Return Rank
COP
PSX
COP vs. PSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ConocoPhillips Company (COP) and Phillips 66 (PSX). 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 | PSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 2.30 | -1.25 |
| Martin ratioReturn relative to average drawdown | 2.79 | 6.51 | -3.72 |
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Drawdowns
COP vs. PSX - Drawdown Comparison
The maximum COP drawdown since its inception was -84.55%, which is greater than PSX's maximum drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for COP and PSX.
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Drawdown Indicators
| COP | PSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.55% | -64.21% | -20.34% |
Max Drawdown (1Y)Largest decline over 1 year | -18.88% | -17.28% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -36.19% | -44.37% | +8.18% |
Max Drawdown (5Y)Largest decline over 5 years | -36.19% | -44.37% | +8.18% |
Max Drawdown (10Y)Largest decline over 10 years | -70.66% | -64.21% | -6.45% |
Current DrawdownCurrent decline from peak | -17.40% | -9.90% | -7.50% |
Average DrawdownAverage peak-to-trough decline | -25.48% | -14.73% | -10.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.11% | 6.13% | +0.98% |
Volatility
COP vs. PSX - Volatility Comparison
ConocoPhillips Company (COP) has a higher volatility of 9.15% compared to Phillips 66 (PSX) at 8.15%. This indicates that COP's price experiences larger fluctuations and is considered to be riskier than PSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COP | PSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.15% | 8.15% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 22.91% | 23.07% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.65% | 29.96% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.77% | 33.18% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.66% | 35.36% | +2.30% |
Dividends
COP vs. PSX - Dividend Comparison
COP's dividend yield for the trailing twelve months is around 3.01%, more than PSX's 2.93% 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% |
PSX Phillips 66 | 2.93% | 3.68% | 3.95% | 3.15% | 3.68% | 5.00% | 5.15% | 3.14% | 3.60% | 2.70% | 2.84% | 2.67% |
Financials
COP vs. PSX - Financials Comparison
This section allows you to compare key financial metrics between ConocoPhillips Company and Phillips 66. 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. PSX - 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%.
PSX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Phillips 66 reported a gross profit of 0.00 and revenue of 33.00B. 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%.
PSX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Phillips 66 reported an operating income of 0.00 and revenue of 33.00B, 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%.
PSX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Phillips 66 reported a net income of 207.00M and revenue of 33.00B, resulting in a net margin of 0.6%.
Frequently Asked Questions
COP and PSX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COP has higher volatility (9.15%) compared to PSX (8.15%). In terms of maximum drawdown, COP dropped -84.55% vs PSX's -64.21%.
PSX currently has the higher Sharpe Ratio (1.33 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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