CVX vs. SHEL
CVX (Chevron Corporation) and SHEL (Shell plc) are both stocks. Both operate in the Oil & Gas Integrated industry within the Energy sector. Over the past 10 years, CVX returned 11.68%/yr vs 10.72%/yr for SHEL. Their 0.69 correlation means they have sometimes moved together and sometimes differently.
Performance
CVX vs. SHEL - Performance Comparison
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Returns By Period
In the year-to-date period, CVX achieves a 31.60% return, which is significantly higher than SHEL's 27.49% return. Over the past 10 years, CVX has outperformed SHEL with an annualized return of 11.68%, while SHEL has yielded a comparatively lower 10.72% annualized return.
CVX
- 1D
- 2.35%
- 1M
- 16.33%
- 6M
- 13.38%
- YTD
- 31.60%
- 1Y
- 35.45%
- 3Y*
- 11.23%
- 5Y*
- 18.87%
- 10Y*
- 11.68%
- ALL TIME*
- 10.44%
SHEL
- 1D
- 1.62%
- 1M
- 17.89%
- 6M
- 21.62%
- YTD
- 27.49%
- 1Y
- 32.66%
- 3Y*
- 19.34%
- 5Y*
- 23.15%
- 10Y*
- 10.72%
- ALL TIME*
- 6.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.44B | $1.41B | $1.67B | |
SHEL Shell plc | $678.43M | $587.70M | $593.39M |
CVX vs. SHEL - 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% |
SHEL Shell plc | 27.49% | 22.16% | -0.87% | 20.19% | 36.18% | 34.27% | -41.08% | 6.38% | -7.23% | 21.67% |
Correlation
The correlation between CVX and SHEL is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2005 | 0.69 |
The correlation between CVX and SHEL has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
Fundamentals
CVX:
$392.09B
SHEL:
$256.45B
CVX:
$10.42
SHEL:
$9.02
CVX:
18.89
SHEL:
10.20
CVX:
1.84
SHEL:
0.51
CVX:
1.86
SHEL:
0.89
CVX:
2.05
SHEL:
1.43
CVX:
$208.71B
SHEL:
$296.60B
CVX:
$64.69B
SHEL:
$50.77B
CVX:
$55.77B
SHEL:
$67.91B
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Return for Risk
CVX vs. SHEL — Risk / Return Rank
CVX
SHEL
CVX vs. SHEL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) and Shell plc (SHEL). 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 | SHEL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.80 | -0.10 |
| Martin ratioReturn relative to average drawdown | 4.61 | 5.52 | -0.91 |
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Drawdowns
CVX vs. SHEL - Drawdown Comparison
The maximum CVX drawdown since its inception was -55.77%, smaller than the maximum SHEL drawdown of -71.57%. Use the drawdown chart below to compare losses from any high point for CVX and SHEL.
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Drawdown Indicators
| CVX | SHEL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -71.57% | +15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -20.81% | -17.98% | -2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -20.81% | -18.47% | -2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -25.04% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -71.57% | +15.80% |
Current DrawdownCurrent decline from peak | -5.93% | -1.42% | -4.51% |
Average DrawdownAverage peak-to-trough decline | -11.40% | -16.69% | +5.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.66% | 5.86% | +1.80% |
Volatility
CVX vs. SHEL - Volatility Comparison
Chevron Corporation (CVX) and Shell plc (SHEL) have volatilities of 6.84% and 7.11%, 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.
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Volatility by Period
| CVX | SHEL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 7.11% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 18.21% | 18.17% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.82% | 21.99% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.15% | 25.01% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.24% | 30.67% | -1.43% |
Dividends
CVX vs. SHEL - Dividend Comparison
CVX's dividend yield for the trailing twelve months is around 3.55%, more than SHEL's 3.22% 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% |
SHEL Shell plc | 3.22% | 3.90% | 4.39% | 3.76% | 3.48% | 3.78% | 5.69% | 6.27% | 6.27% | 2.75% | 6.49% | 8.17% |
Financials
CVX vs. SHEL - Financials Comparison
This section allows you to compare key financial metrics between Chevron Corporation and Shell plc. 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. SHEL - Profitability Comparison
CVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Chevron Corporation reported a gross profit of 30.59B and revenue of 67.20B. Therefore, the gross margin over that period was 45.5%.
SHEL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Shell plc reported a gross profit of 18.48B and revenue of 94.66B. Therefore, the gross margin over that period was 19.5%.
CVX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Chevron Corporation reported an operating income of 21.48B and revenue of 67.20B, resulting in an operating margin of 32.0%.
SHEL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Shell plc reported an operating income of 15.18B and revenue of 94.66B, resulting in an operating margin of 16.0%.
CVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Chevron Corporation reported a net income of 12.07B and revenue of 67.20B, resulting in a net margin of 18.0%.
SHEL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Shell plc reported a net income of 10.82B and revenue of 94.66B, resulting in a net margin of 11.4%.
Frequently Asked Questions
CVX and SHEL 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.
SHEL has higher volatility (7.11%) compared to CVX (6.84%). In terms of maximum drawdown, CVX dropped -55.77% vs SHEL's -71.57%.
CVX currently has the higher Sharpe Ratio (1.55 vs 1.48), 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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