COP vs. PSX

Last updated Apr 1, 2026

Compare and contrast key facts about ConocoPhillips Company (COP) and Phillips 66 (PSX).

Performance

COP vs. PSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ConocoPhillips Company (COP) and Phillips 66 (PSX). The values are adjusted to include any dividend payments, if applicable.

COP vs. PSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COP ConocoPhillips Company	42.11%	-2.34%	-12.02%	1.98%	71.69%	86.60%	-36.04%	6.63%	15.63%	11.95%
PSX Phillips 66	42.34%	17.51%	-11.63%	33.07%	49.58%	8.51%	-33.85%	33.97%	-12.28%	20.94%

Fundamentals

Market Cap COP : $162.88B PSX : $73.81B
EPS COP : $6.39 PSX : $10.84
PE Ratio COP : 20.64 PSX : 16.81
PEG Ratio COP : 1.20 PSX : 0.10
PS Ratio COP : 2.76 PSX : 0.56
PB Ratio COP : 2.53 PSX : 2.54
Total Revenue (TTM) COP : $59.65B PSX : $132.43B
Gross Profit (TTM) COP : $17.61B PSX : $6.75B
EBITDA (TTM) COP : $25.38B PSX : $9.75B

Returns By Period

The year-to-date returns for both investments are quite close, with COP having a 42.11% return and PSX slightly higher at 42.34%. Over the past 10 years, COP has outperformed PSX with an annualized return of 16.28%, while PSX has yielded a comparatively lower 11.98% annualized return.

COP

• 1D: -0.67%
• 1M: 16.34%
• YTD: 42.11%
• 6M: 41.94%
• 1Y: 30.00%
• 3Y*: 13.58%
• 5Y*: 23.95%
• 10Y*: 16.28%

PSX

• 1D: -1.42%
• 1M: 18.05%
• YTD: 42.34%
• 6M: 36.19%
• 1Y: 52.96%
• 3Y*: 25.98%
• 5Y*: 21.57%
• 10Y*: 11.98%

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

Return for Risk

COP vs. PSX — Risk / Return Rank

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

COP

COP Risk / Return Rank: 68
COP Sharpe Ratio Rank: 72
COP Sortino Ratio Rank: 65
COP Omega Ratio Rank: 65
COP Calmar Ratio Rank: 72
COP Martin Ratio Rank: 68

PSX

PSX Risk / Return Rank: 82
PSX Sharpe Ratio Rank: 84
PSX Sortino Ratio Rank: 78
PSX Omega Ratio Rank: 81
PSX Calmar Ratio Rank: 80
PSX Martin Ratio Rank: 84

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.

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.

	COP	PSX	Difference
Sharpe ratio Return per unit of total volatility	0.88	1.46	-0.59
Sortino ratio Return per unit of downside risk	1.32	1.97	-0.65
Omega ratio Gain probability vs. loss probability	1.18	1.29	-0.11
Calmar ratio Return relative to maximum drawdown	1.51	2.18	-0.67
Martin ratio Return relative to average drawdown	2.91	7.32	-4.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COP vs. PSX - Sharpe Ratio Comparison

The current COP Sharpe Ratio is 0.88, which is lower than the PSX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of COP and PSX, 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

	COP	PSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	1.46	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.66	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.34	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.51	-0.27

Correlation

The correlation between COP and PSX is 0.63, 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.

Dividends

COP vs. PSX - Dividend Comparison

COP's dividend yield for the trailing twelve months is around 2.45%, less than PSX's 2.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COP ConocoPhillips Company	2.45%	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	2.67%	3.68%	3.95%	3.15%	3.68%	5.00%	5.15%	3.14%	3.60%	2.70%	2.84%	2.67%

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.

Drawdown Indicators

	COP	PSX	Difference
Max Drawdown Largest peak-to-trough decline	-84.55%	-64.21%	-20.34%
Max Drawdown (1Y) Largest decline over 1 year	-22.09%	-25.32%	+3.23%
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 Drawdown Current decline from peak	-1.35%	-3.24%	+1.89%
Average Drawdown Average peak-to-trough decline	-25.55%	-14.82%	-10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.45%	7.53%	+3.92%

Volatility

COP vs. PSX - Volatility Comparison

The current volatility for ConocoPhillips Company (COP) is 6.82%, while Phillips 66 (PSX) has a volatility of 9.01%. This indicates that COP experiences smaller price fluctuations and is considered to be less risky than PSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COP	PSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.82%	9.01%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	20.55%	21.26%	-0.71%
Volatility (1Y) Calculated over the trailing 1-year period	34.39%	36.38%	-1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.78%	33.02%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.68%	35.14%	+2.54%

Financials

COP vs. PSX - Profitability Comparison

The chart below illustrates the profitability comparison between ConocoPhillips Company and Phillips 66 over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

COP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, ConocoPhillips Company reported a gross profit of 5.64B and revenue of 14.19B. Therefore, the gross margin over that period was 39.8%.

PSX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Phillips 66 reported a gross profit of 2.27B and revenue of 34.11B. Therefore, the gross margin over that period was 6.7%.

COP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, ConocoPhillips Company reported an operating income of 2.44B and revenue of 14.19B, resulting in an operating margin of 17.2%.

PSX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Phillips 66 reported an operating income of 1.61B and revenue of 34.11B, resulting in an operating margin of 4.7%.

COP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, ConocoPhillips Company reported a net income of 1.44B and revenue of 14.19B, resulting in a net margin of 10.2%.

PSX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Phillips 66 reported a net income of 2.91B and revenue of 34.11B, resulting in a net margin of 8.5%.