CVX vs. EWZ
CVX (Chevron Corporation) is a stock, while EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Over the past 10 years, CVX returned 11.68%/yr vs 6.64%/yr for EWZ. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
CVX vs. EWZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CVX achieves a 31.60% return, which is significantly higher than EWZ's 16.46% return. Over the past 10 years, CVX has outperformed EWZ with an annualized return of 11.68%, while EWZ has yielded a comparatively lower 6.64% annualized return.
CVX
- 1D
- 2.35%
- 1M
- 18.79%
- 6M
- 13.38%
- YTD
- 31.60%
- 1Y
- 35.24%
- 3Y*
- 11.23%
- 5Y*
- 18.87%
- 10Y*
- 11.68%
- ALL TIME*
- 10.44%
EWZ
- 1D
- 0.33%
- 1M
- 7.23%
- 6M
- -0.11%
- YTD
- 16.46%
- 1Y
- 44.24%
- 3Y*
- 9.53%
- 5Y*
- 7.67%
- 10Y*
- 6.64%
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.44B | $1.41B | $1.67B | |
| $598.51M | $637.15M | $833.60M |
CVX vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 31.60% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
EWZ iShares MSCI Brazil ETF | 16.46% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
Correlation
The correlation between CVX and EWZ is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.45 |
The correlation between CVX and EWZ shifts across timeframes, from -0.03 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CVX vs. EWZ — Risk / Return Rank
CVX
EWZ
CVX vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) and iShares MSCI Brazil ETF (EWZ). 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.
| CVX | EWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.30 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.31 | -0.61 |
| Martin ratioReturn relative to average drawdown | 4.61 | 5.64 | -1.03 |
Loading charts...
Drawdowns
CVX vs. EWZ - Drawdown Comparison
The maximum CVX drawdown since its inception was -55.77%, smaller than the maximum EWZ drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for CVX and EWZ.
Loading charts...
Drawdown Indicators
| CVX | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -77.25% | +21.48% |
Max Drawdown (1Y)Largest decline over 1 year | -20.81% | -19.27% | -1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -20.81% | -31.36% | +10.55% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -32.24% | +7.29% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -56.99% | +1.22% |
Current DrawdownCurrent decline from peak | -5.93% | -18.89% | +12.96% |
Average DrawdownAverage peak-to-trough decline | -11.40% | -35.86% | +24.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.66% | 7.86% | -0.20% |
Volatility
CVX vs. EWZ - Volatility Comparison
Chevron Corporation (CVX) and iShares MSCI Brazil ETF (EWZ) have volatilities of 6.84% and 6.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CVX | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 6.69% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 18.21% | 19.32% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.82% | 25.12% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.15% | 27.46% | -2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.24% | 33.90% | -4.66% |
Dividends
CVX vs. EWZ - Dividend Comparison
CVX's dividend yield for the trailing twelve months is around 3.55%, less than EWZ's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.55% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
EWZ iShares MSCI Brazil ETF | 3.99% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
Frequently Asked Questions
CVX and EWZ have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVX has higher volatility (6.84%) compared to EWZ (6.69%). In terms of maximum drawdown, CVX dropped -55.77% vs EWZ's -77.25%.
EWZ currently has the higher Sharpe Ratio (1.77 vs 1.55), 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.
Find the right allocation for CVX and EWZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer