CVX vs. PSX
CVX (Chevron Corporation) and PSX (Phillips 66) are both stocks. Both are in the Energy sector — CVX in Oil & Gas Integrated, PSX in Oil & Gas Refining & Marketing. Over the past 10 years, CVX returned 10.72%/yr vs 12.61%/yr for PSX. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
CVX vs. PSX - Performance Comparison
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Returns By Period
In the year-to-date period, CVX achieves a 25.24% return, which is significantly lower than PSX's 44.08% return. Over the past 10 years, CVX has underperformed PSX with an annualized return of 10.72%, while PSX has yielded a comparatively higher 12.61% annualized return.
CVX
- 1D
- -0.55%
- 1M
- 4.08%
- YTD
- 25.24%
- 6M
- 27.25%
- 1Y
- 39.19%
- 3Y*
- 10.91%
- 5Y*
- 16.22%
- 10Y*
- 10.72%
PSX
- 1D
- -0.58%
- 1M
- 7.49%
- YTD
- 44.08%
- 6M
- 33.41%
- 1Y
- 65.68%
- 3Y*
- 27.98%
- 5Y*
- 19.31%
- 10Y*
- 12.61%
CVX vs. PSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 25.24% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
PSX Phillips 66 | 44.08% | 17.51% | -11.63% | 33.07% | 49.58% | 8.51% | -33.85% | 33.97% | -12.28% | 20.94% |
Correlation
The correlation between CVX and PSX is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 2, 2012 | 0.65 |
The correlation between CVX and PSX has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
Fundamentals
CVX:
$371.98B
PSX:
$73.83B
CVX:
$5.75
PSX:
$10.17
CVX:
32.55
PSX:
18.00
CVX:
3.17
PSX:
0.10
CVX:
1.93
PSX:
0.55
CVX:
2.02
PSX:
2.59
CVX:
$185.89B
PSX:
$134.70B
CVX:
$47.27B
PSX:
$5.94B
CVX:
$40.44B
PSX:
$9.17B
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Return for Risk
CVX vs. PSX — Risk / Return Rank
CVX
PSX
CVX vs. PSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) 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.
| CVX | PSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 4.00 | -0.94 |
| Martin ratioReturn relative to average drawdown | 7.76 | 11.57 | -3.81 |
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 | PSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.34 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.58 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.36 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.50 | -0.13 |
Drawdowns
CVX vs. PSX - Drawdown Comparison
The maximum CVX drawdown since its inception was -55.77%, smaller than the maximum PSX drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for CVX and PSX.
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Drawdown Indicators
| CVX | PSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -64.21% | +8.44% |
Max Drawdown (1Y)Largest decline over 1 year | -13.99% | -17.28% | +3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -44.37% | +23.73% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -44.37% | +19.42% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -64.21% | +8.44% |
Current DrawdownCurrent decline from peak | -10.48% | -2.06% | -8.42% |
Average DrawdownAverage peak-to-trough decline | -11.39% | -14.74% | +3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.50% | 5.96% | -0.46% |
Volatility
CVX vs. PSX - Volatility Comparison
The current volatility for Chevron Corporation (CVX) is 7.27%, while Phillips 66 (PSX) has a volatility of 8.15%. This indicates that CVX 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.
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Volatility by Period
| CVX | PSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.27% | 8.15% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 17.77% | 23.59% | -5.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.03% | 29.47% | -7.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.12% | 33.19% | -8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.15% | 35.31% | -6.16% |
Dividends
CVX vs. PSX - Dividend Comparison
CVX's dividend yield for the trailing twelve months is around 3.73%, more than PSX's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.73% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
PSX Phillips 66 | 2.70% | 3.68% | 3.95% | 3.15% | 3.68% | 5.00% | 5.15% | 3.14% | 3.60% | 2.70% | 2.84% | 2.67% |
Financials
CVX vs. PSX - Financials Comparison
This section allows you to compare key financial metrics between Chevron Corporation 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
CVX vs. PSX - Profitability Comparison
CVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported a gross profit of 4.55B and revenue of 47.56B. Therefore, the gross margin over that period was 9.6%.
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%.
CVX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported an operating income of 3.24B and revenue of 47.56B, resulting in an operating margin of 6.8%.
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%.
CVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chevron Corporation reported a net income of 2.21B and revenue of 47.56B, resulting in a net margin of 4.7%.
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
CVX and PSX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSX has higher volatility (8.15%) compared to CVX (7.27%). In terms of maximum drawdown, CVX dropped -55.77% vs PSX's -64.21%.
PSX currently has the higher Sharpe Ratio (2.34 vs 1.94), 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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