MPC vs. COP

Last updated Jun 4, 2026

MPC (Marathon Petroleum Corporation) and COP (ConocoPhillips Company) are both stocks. Both are in the Energy sector — MPC in Oil & Gas Refining & Marketing, COP in Oil & Gas E&P. Over the past 10 years, MPC returned 26.16%/yr vs 13.90%/yr for COP. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

MPC vs. COP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Marathon Petroleum Corporation (MPC) and ConocoPhillips Company (COP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MPC achieves a 65.76% return, which is significantly higher than COP's 29.12% return. Over the past 10 years, MPC has outperformed COP with an annualized return of 26.16%, while COP has yielded a comparatively lower 13.90% annualized return.

MPC

• 1D: 1.58%
• 1M: 6.21%
• YTD: 65.76%
• 6M: 42.31%
• 1Y: 68.20%
• 3Y*: 37.67%
• 5Y*: 36.42%
• 10Y*: 26.16%

COP

• 1D: 1.87%
• 1M: -3.98%
• YTD: 29.12%
• 6M: 31.65%
• 1Y: 39.91%
• 3Y*: 8.69%
• 5Y*: 18.95%
• 10Y*: 13.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MPC vs. COP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPC Marathon Petroleum Corporation	65.76%	19.17%	-4.06%	30.46%	86.62%	61.00%	-27.38%	6.05%	-8.23%	34.78%
COP ConocoPhillips Company	29.12%	-2.34%	-12.02%	1.98%	71.69%	86.60%	-36.04%	6.63%	15.63%	11.95%

Correlation

The correlation between MPC and COP is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jul 5, 2011	0.57

The correlation between MPC and COP shifts across timeframes, from 0.57 (all time) to 0.67 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MPC : $78.83B COP : $145.83B
EPS MPC : $15.35 COP : $5.90
PE Ratio MPC : 17.41 COP : 20.18
PEG Ratio MPC : 0.08 COP : 1.17
PS Ratio MPC : 0.59 COP : 2.53
PB Ratio MPC : 4.71 COP : 2.26
Total Revenue (TTM) MPC : $135.75B COP : $58.31B
Gross Profit (TTM) MPC : $11.95B COP : $17.02B
EBITDA (TTM) MPC : $12.39B COP : $22.44B

Return for Risk

MPC vs. COP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MPC

MPC Risk / Return Rank: 86
MPC Sharpe Ratio Rank: 89
MPC Sortino Ratio Rank: 84
MPC Omega Ratio Rank: 85
MPC Calmar Ratio Rank: 86
MPC Martin Ratio Rank: 86

COP

COP Risk / Return Rank: 76
COP Sharpe Ratio Rank: 79
COP Sortino Ratio Rank: 73
COP Omega Ratio Rank: 69
COP Calmar Ratio Rank: 80
COP Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MPC vs. COP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Marathon Petroleum Corporation (MPC) and ConocoPhillips Company (COP). 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.

	MPC	COP	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.37	+0.81
Sortino ratio Return per unit of downside risk	2.73	1.92	+0.80
Omega ratio Gain probability vs. loss probability	1.36	1.22	+0.14
Calmar ratio Return relative to maximum drawdown	3.74	2.69	+1.05
Martin ratio Return relative to average drawdown	9.89	6.13	+3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPC vs. COP - Sharpe Ratio Comparison

The current MPC Sharpe Ratio is 2.18, which is higher than the COP Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of MPC and COP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MPC	COP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.37	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	0.58	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.37	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.23	+0.33

Drawdowns

MPC vs. COP - Drawdown Comparison

The maximum MPC drawdown since its inception was -79.67%, smaller than the maximum COP drawdown of -84.55%. Use the drawdown chart below to compare losses from any high point for MPC and COP.

Drawdown Indicators

	MPC	COP	Difference
Max Drawdown Largest peak-to-trough decline	-79.67%	-84.55%	+4.88%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-14.90%	-3.43%
Max Drawdown (3Y) Largest decline over 3 years	-44.75%	-36.19%	-8.56%
Max Drawdown (5Y) Largest decline over 5 years	-44.75%	-36.19%	-8.56%
Max Drawdown (10Y) Largest decline over 10 years	-79.67%	-70.66%	-9.01%
Current Drawdown Current decline from peak	0.00%	-10.36%	+10.36%
Average Drawdown Average peak-to-trough decline	-17.36%	-25.49%	+8.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.93%	6.53%	+0.40%

Volatility

MPC vs. COP - Volatility Comparison

Marathon Petroleum Corporation (MPC) has a higher volatility of 11.31% compared to ConocoPhillips Company (COP) at 8.92%. This indicates that MPC's price experiences larger fluctuations and is considered to be riskier than COP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MPC	COP	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.31%	8.92%	+2.39%
Volatility (6M) Calculated over the trailing 6-month period	25.81%	22.81%	+3.00%
Volatility (1Y) Calculated over the trailing 1-year period	31.50%	29.27%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.04%	32.72%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.26%	37.67%	+2.59%

Dividends

MPC vs. COP - Dividend Comparison

MPC's dividend yield for the trailing twelve months is around 1.46%, less than COP's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COP ConocoPhillips Company	2.77%	3.40%	3.35%	3.37%	4.23%	2.70%	4.23%	2.05%	1.86%	1.93%	1.99%	6.30%
MPC Marathon Petroleum Corporation	1.46%	2.29%	2.43%	2.07%	2.14%	3.63%	5.61%	3.52%	3.12%	2.30%	2.70%	2.20%

Financials

MPC vs. COP - Profitability Comparison

The chart below illustrates the profitability comparison between Marathon Petroleum Corporation and ConocoPhillips Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MPC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Marathon Petroleum Corporation reported a gross profit of 3.31B and revenue of 34.57B. Therefore, the gross margin over that period was 9.6%.

COP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported a gross profit of 7.50B and revenue of 16.05B. Therefore, the gross margin over that period was 46.7%.

MPC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Marathon Petroleum Corporation reported an operating income of 1.40B and revenue of 34.57B, resulting in an operating margin of 4.1%.

COP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported an operating income of 3.36B and revenue of 16.05B, resulting in an operating margin of 21.0%.

MPC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Marathon Petroleum Corporation reported a net income of 511.00M and revenue of 34.57B, resulting in a net margin of 1.5%.

COP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported a net income of 2.18B and revenue of 16.05B, resulting in a net margin of 13.6%.

Frequently Asked Questions

Can I hold both MPC and COP in my portfolio?

MPC and COP have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MPC or COP?

MPC has higher volatility (11.31%) compared to COP (8.92%). In terms of maximum drawdown, MPC dropped -79.67% vs COP's -84.55%.

Which has better risk-adjusted returns?

MPC currently has the higher Sharpe Ratio (2.18 vs 1.37), 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.