CVX vs. CL=F

Last updated Apr 1, 2026

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

Performance

CVX vs. CL=F - Performance Comparison

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

CVX vs. CL=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVX Chevron Corporation	37.08%	10.10%	1.29%	-13.63%	58.46%	46.24%	-25.95%	15.27%	-9.75%	10.59%
CL=F Crude Oil WTI	76.87%	-19.41%	-0.82%	-10.70%	7.44%	53.98%	-19.98%	32.92%	-24.35%	12.51%

Returns By Period

In the year-to-date period, CVX achieves a 37.08% return, which is significantly lower than CL=F's 76.87% return. Over the past 10 years, CVX has outperformed CL=F with an annualized return of 12.88%, while CL=F has yielded a comparatively lower 10.69% annualized return.

CVX

• 1D: -1.81%
• 1M: 10.78%
• YTD: 37.08%
• 6M: 36.04%
• 1Y: 29.24%
• 3Y*: 12.92%
• 5Y*: 19.23%
• 10Y*: 12.88%

CL=F

• 1D: -1.28%
• 1M: 51.54%
• YTD: 76.87%
• 6M: 62.83%
• 1Y: 42.08%
• 3Y*: 10.24%
• 5Y*: 10.56%
• 10Y*: 10.69%

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

Return for Risk

CVX vs. CL=F — Risk / Return Rank

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

CVX

CVX Risk / Return Rank: 73
CVX Sharpe Ratio Rank: 79
CVX Sortino Ratio Rank: 71
CVX Omega Ratio Rank: 73
CVX Calmar Ratio Rank: 72
CVX Martin Ratio Rank: 69

CL=F

CL=F Risk / Return Rank: 34
CL=F Sharpe Ratio Rank: 36
CL=F Sortino Ratio Rank: 36
CL=F Omega Ratio Rank: 33
CL=F Calmar Ratio Rank: 42
CL=F Martin Ratio Rank: 23

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.

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

This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) and Crude Oil WTI (CL=F). 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	CL=F	Difference
Sharpe ratio Return per unit of total volatility	1.17	0.90	+0.28
Sortino ratio Return per unit of downside risk	1.59	1.42	+0.17
Omega ratio Gain probability vs. loss probability	1.23	1.20	+0.04
Calmar ratio Return relative to maximum drawdown	1.46	2.40	-0.94
Martin ratio Return relative to average drawdown	3.16	3.98	-0.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVX vs. CL=F - Sharpe Ratio Comparison

The current CVX Sharpe Ratio is 1.17, which is higher than the CL=F Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of CVX and CL=F, 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

	CVX	CL=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	0.90	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.27	+0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.21	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.07	+0.32

Correlation

The correlation between CVX and CL=F 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

CVX vs. CL=F - Drawdown Comparison

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

Drawdown Indicators

	CVX	CL=F	Difference
Max Drawdown Largest peak-to-trough decline	-55.77%	-92.04%	+36.27%
Max Drawdown (1Y) Largest decline over 1 year	-20.64%	-27.07%	+6.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.95%	-53.86%	+28.91%
Max Drawdown (10Y) Largest decline over 10 years	-55.77%	-84.82%	+29.05%
Current Drawdown Current decline from peak	-2.01%	-30.10%	+28.09%
Average Drawdown Average peak-to-trough decline	-11.40%	-40.84%	+29.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.56%	16.33%	-6.77%

Volatility

CVX vs. CL=F - Volatility Comparison

The current volatility for Chevron Corporation (CVX) is 6.11%, while Crude Oil WTI (CL=F) has a volatility of 27.20%. This indicates that CVX experiences smaller price fluctuations and is considered to be less risky than CL=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVX	CL=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	27.20%	-21.09%
Volatility (6M) Calculated over the trailing 6-month period	14.76%	33.27%	-18.51%
Volatility (1Y) Calculated over the trailing 1-year period	25.01%	41.13%	-16.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.97%	36.56%	-11.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.99%	48.72%	-19.73%