FANG vs. DVN
FANG (Diamondback Energy, Inc.) and DVN (Devon Energy Corporation) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 10 years, FANG returned 10.90%/yr vs 5.59%/yr for DVN. A 0.73 correlation means they provide meaningful diversification when combined.
Performance
FANG vs. DVN - Performance Comparison
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Returns By Period
In the year-to-date period, FANG achieves a 26.36% return, which is significantly higher than DVN's 18.98% return. Over the past 10 years, FANG has outperformed DVN with an annualized return of 10.90%, while DVN has yielded a comparatively lower 5.59% annualized return.
FANG
- 1D
- 2.34%
- 1M
- -6.43%
- YTD
- 26.36%
- 6M
- 27.95%
- 1Y
- 29.42%
- 3Y*
- 18.69%
- 5Y*
- 20.36%
- 10Y*
- 10.90%
DVN
- 1D
- 2.21%
- 1M
- -8.18%
- YTD
- 18.98%
- 6M
- 19.63%
- 1Y
- 28.81%
- 3Y*
- 0.16%
- 5Y*
- 13.27%
- 10Y*
- 5.59%
FANG vs. DVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FANG Diamondback Energy, Inc. | 26.36% | -5.64% | 10.35% | 19.66% | 35.34% | 127.51% | -46.00% | 0.92% | -26.35% | 24.93% |
DVN Devon Energy Corporation | 18.98% | 15.03% | -25.21% | -23.08% | 50.86% | 199.88% | -35.34% | 16.81% | -45.09% | -8.74% |
Correlation
The correlation between FANG and DVN 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 | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2012 | 0.73 |
The correlation between FANG and DVN shifts across timeframes, from 0.73 (all time) to 0.85 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
FANG:
$1.40
DVN:
$4.54
FANG:
134.03
DVN:
9.49
FANG:
3.56
DVN:
1.67
FANG:
$15.19B
DVN:
$12.24B
FANG:
$7.30B
DVN:
$2.67B
FANG:
$5.54B
DVN:
$5.67B
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Return for Risk
FANG vs. DVN — Risk / Return Rank
FANG
DVN
FANG vs. DVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamondback Energy, Inc. (FANG) and Devon Energy Corporation (DVN). 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.
| FANG | DVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.56 | +0.60 |
| Martin ratioReturn relative to average drawdown | 5.34 | 4.08 | +1.26 |
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Drawdowns
FANG vs. DVN - Drawdown Comparison
The maximum FANG drawdown since its inception was -88.72%, smaller than the maximum DVN drawdown of -94.93%. Use the drawdown chart below to compare losses from any high point for FANG and DVN.
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Drawdown Indicators
| FANG | DVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.72% | -94.93% | +6.21% |
Max Drawdown (1Y)Largest decline over 1 year | -13.66% | -18.53% | +4.87% |
Max Drawdown (3Y)Largest decline over 3 years | -42.10% | -49.22% | +7.12% |
Max Drawdown (5Y)Largest decline over 5 years | -42.10% | -61.45% | +19.35% |
Max Drawdown (10Y)Largest decline over 10 years | -88.72% | -88.51% | -0.21% |
Current DrawdownCurrent decline from peak | -11.63% | -44.52% | +32.89% |
Average DrawdownAverage peak-to-trough decline | -19.36% | -35.94% | +16.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.74% | 7.15% | -1.41% |
Volatility
FANG vs. DVN - Volatility Comparison
The current volatility for Diamondback Energy, Inc. (FANG) is 11.06%, while Devon Energy Corporation (DVN) has a volatility of 12.05%. This indicates that FANG experiences smaller price fluctuations and is considered to be less risky than DVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FANG | DVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.06% | 12.05% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 23.71% | 26.05% | -2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.26% | 34.32% | -3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.84% | 40.99% | -3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.07% | 49.63% | -0.56% |
Dividends
FANG vs. DVN - Dividend Comparison
FANG's dividend yield for the trailing twelve months is around 2.21%, less than DVN's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVN Devon Energy Corporation | 2.42% | 2.62% | 4.43% | 4.55% | 8.41% | 5.24% | 4.30% | 1.35% | 1.33% | 0.58% | 0.92% | 3.00% |
FANG Diamondback Energy, Inc. | 2.21% | 2.66% | 5.06% | 5.15% | 6.55% | 1.62% | 3.10% | 0.74% | 0.40% | 0.00% | 0.00% | 0.00% |
Financials
FANG vs. DVN - Financials Comparison
This section allows you to compare key financial metrics between Diamondback Energy, Inc. and Devon Energy 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
FANG vs. DVN - Profitability Comparison
FANG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Diamondback Energy, Inc. reported a gross profit of 3.85B and revenue of 4.24B. Therefore, the gross margin over that period was 90.9%.
DVN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Devon Energy Corporation reported a gross profit of 0.00 and revenue of 3.81M. Therefore, the gross margin over that period was 0.0%.
FANG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Diamondback Energy, Inc. reported an operating income of 30.00M and revenue of 4.24B, resulting in an operating margin of 0.7%.
DVN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Devon Energy Corporation reported an operating income of 0.00 and revenue of 3.81M, resulting in an operating margin of 0.0%.
FANG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Diamondback Energy, Inc. reported a net income of 144.00M and revenue of 4.24B, resulting in a net margin of 3.4%.
DVN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Devon Energy Corporation reported a net income of 120.00K and revenue of 3.81M, resulting in a net margin of 3.2%.
Frequently Asked Questions
FANG and DVN 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.
DVN has higher volatility (12.05%) compared to FANG (11.06%). In terms of maximum drawdown, FANG dropped -88.72% vs DVN's -94.93%.
FANG currently has the higher Sharpe Ratio (0.95 vs 0.84), 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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