CVX vs. ^GSPC
CVX (Chevron Corporation) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, CVX returned 11.02%/yr vs 13.65%/yr for ^GSPC. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
CVX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, CVX achieves a 25.93% return, which is significantly higher than ^GSPC's 10.79% return. Over the past 10 years, CVX has underperformed ^GSPC with an annualized return of 11.02%, while ^GSPC has yielded a comparatively higher 13.65% annualized return.
CVX
- 1D
- -0.72%
- 1M
- -1.33%
- YTD
- 25.93%
- 6M
- 26.06%
- 1Y
- 42.85%
- 3Y*
- 11.18%
- 5Y*
- 16.35%
- 10Y*
- 11.02%
^GSPC
- 1D
- 0.41%
- 1M
- 4.48%
- YTD
- 10.79%
- 6M
- 10.60%
- 1Y
- 27.02%
- 3Y*
- 21.07%
- 5Y*
- 12.39%
- 10Y*
- 13.65%
CVX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 25.93% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
^GSPC S&P 500 Index | 10.79% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between CVX and ^GSPC is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2001 | 0.55 |
The correlation between CVX and ^GSPC shifts across timeframes, from -0.15 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CVX vs. ^GSPC — Risk / Return Rank
CVX
^GSPC
CVX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) and S&P 500 Index (^GSPC). 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.
| CVX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.41 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 2.98 | +0.10 |
| Martin ratioReturn relative to average drawdown | 7.88 | 13.78 | -5.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVX | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 2.28 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.74 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.76 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.47 | -0.10 |
Drawdowns
CVX vs. ^GSPC - Drawdown Comparison
The maximum CVX drawdown since its inception was -55.77%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for CVX and ^GSPC.
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Drawdown Indicators
| CVX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -56.78% | +1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -13.99% | -9.10% | -4.89% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -18.90% | -1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -25.43% | +0.48% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -33.92% | -21.85% |
Current DrawdownCurrent decline from peak | -9.98% | -0.33% | -9.65% |
Average DrawdownAverage peak-to-trough decline | -11.39% | -10.72% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.46% | 1.97% | +3.49% |
Volatility
CVX vs. ^GSPC - Volatility Comparison
Chevron Corporation (CVX) has a higher volatility of 8.31% compared to S&P 500 Index (^GSPC) at 2.88%. This indicates that CVX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.31% | 2.88% | +5.43% |
Volatility (6M)Calculated over the trailing 6-month period | 17.76% | 9.00% | +8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.09% | 11.89% | +10.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.12% | 16.90% | +8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.15% | 18.06% | +11.09% |
Frequently Asked Questions
CVX and ^GSPC have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVX has higher volatility (8.31%) compared to ^GSPC (2.88%). In terms of maximum drawdown, CVX dropped -55.77% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (2.28 vs 1.96), 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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