CVX vs. XOM
CVX (Chevron Corporation) and XOM (Exxon Mobil Corporation) are both stocks. Both operate in the Oil & Gas Integrated industry within the Energy sector. Over the past 10 years, CVX returned 10.13%/yr vs 9.11%/yr for XOM. Their correlation of 0.82 suggests significant overlap in exposure.
Performance
CVX vs. XOM - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CVX having a 17.05% return and XOM slightly lower at 16.62%. Over the past 10 years, CVX has outperformed XOM with an annualized return of 10.13%, while XOM has yielded a comparatively lower 9.11% annualized return.
CVX
- 1D
- 0.82%
- 1M
- -8.55%
- YTD
- 17.05%
- 6M
- 19.09%
- 1Y
- 21.96%
- 3Y*
- 9.49%
- 5Y*
- 15.13%
- 10Y*
- 10.13%
XOM
- 1D
- 0.48%
- 1M
- -10.62%
- YTD
- 16.62%
- 6M
- 18.78%
- 1Y
- 24.57%
- 3Y*
- 14.34%
- 5Y*
- 20.96%
- 10Y*
- 9.11%
CVX vs. XOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 17.05% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
XOM Exxon Mobil Corporation | 16.62% | 15.98% | 11.26% | -6.26% | 87.41% | 57.58% | -36.21% | 7.23% | -15.09% | -3.81% |
Correlation
The correlation between CVX and XOM is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.82 |
The correlation between CVX and XOM has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
Fundamentals
CVX:
$347.65B
XOM:
$579.22B
CVX:
$5.75
XOM:
$5.93
CVX:
30.42
XOM:
23.36
CVX:
2.96
XOM:
1.08
CVX:
1.80
XOM:
1.81
CVX:
1.89
XOM:
2.28
CVX:
$185.89B
XOM:
$326.01B
CVX:
$47.27B
XOM:
$83.11B
CVX:
$40.44B
XOM:
$60.44B
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Return for Risk
CVX vs. XOM — Risk / Return Rank
CVX
XOM
CVX vs. XOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) and Exxon Mobil Corporation (XOM). 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 | XOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 1.29 | 0.00 |
| Martin ratioReturn relative to average drawdown | 3.64 | 3.90 | -0.27 |
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Drawdowns
CVX vs. XOM - Drawdown Comparison
The maximum CVX drawdown since its inception was -55.77%, smaller than the maximum XOM drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for CVX and XOM.
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Drawdown Indicators
| CVX | XOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -62.40% | +6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -17.02% | -19.08% | +2.06% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -19.08% | -1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -20.51% | -4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -61.34% | +5.57% |
Current DrawdownCurrent decline from peak | -16.33% | -18.70% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -11.39% | -10.21% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.08% | 6.36% | -0.28% |
Volatility
CVX vs. XOM - Volatility Comparison
The current volatility for Chevron Corporation (CVX) is 7.19%, while Exxon Mobil Corporation (XOM) has a volatility of 7.89%. This indicates that CVX experiences smaller price fluctuations and is considered to be less risky than XOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVX | XOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 7.89% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 18.28% | 20.78% | -2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.51% | 24.89% | -2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.12% | 26.70% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.20% | 28.25% | +0.95% |
Dividends
CVX vs. XOM - Dividend Comparison
CVX's dividend yield for the trailing twelve months is around 3.99%, more than XOM's 2.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.99% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
XOM Exxon Mobil Corporation | 2.95% | 3.32% | 3.57% | 3.68% | 3.22% | 5.70% | 8.44% | 4.92% | 4.74% | 3.66% | 3.30% | 3.69% |
Financials
CVX vs. XOM - Financials Comparison
This section allows you to compare key financial metrics between Chevron Corporation and Exxon Mobil Corporation. 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. XOM - 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%.
XOM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Exxon Mobil Corporation reported a gross profit of 31.36B and revenue of 83.16B. Therefore, the gross margin over that period was 37.7%.
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%.
XOM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Exxon Mobil Corporation reported an operating income of 5.29B and revenue of 83.16B, resulting in an operating margin of 6.4%.
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%.
XOM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Exxon Mobil Corporation reported a net income of 4.18B and revenue of 83.16B, resulting in a net margin of 5.0%.
Frequently Asked Questions
CVX and XOM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOM has higher volatility (7.89%) compared to CVX (7.19%). In terms of maximum drawdown, CVX dropped -55.77% vs XOM's -62.40%.
XOM currently has the higher Sharpe Ratio (0.99 vs 0.98), 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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