MRK vs. CVX
MRK (Merck & Co., Inc.) and CVX (Chevron Corporation) are both stocks. MRK operates in Drug Manufacturers - General (Healthcare), while CVX operates in Oil & Gas Integrated (Energy). Over the past 10 years, MRK returned 11.61%/yr vs 10.98%/yr for CVX. At a 0.31 correlation, their price movements are largely independent.
Performance
MRK vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, MRK achieves a 14.39% return, which is significantly lower than CVX's 26.53% return. Over the past 10 years, MRK has outperformed CVX with an annualized return of 11.61%, while CVX has yielded a comparatively lower 10.98% annualized return.
MRK
- 1D
- -1.05%
- 1M
- 7.31%
- YTD
- 14.39%
- 6M
- 22.75%
- 1Y
- 56.85%
- 3Y*
- 5.78%
- 5Y*
- 13.57%
- 10Y*
- 11.61%
CVX
- 1D
- 1.03%
- 1M
- 5.15%
- YTD
- 26.53%
- 6M
- 29.68%
- 1Y
- 40.62%
- 3Y*
- 10.57%
- 5Y*
- 16.60%
- 10Y*
- 10.98%
MRK vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MRK Merck & Co., Inc. | 14.39% | 9.79% | -6.26% | 1.01% | 49.42% | 1.75% | -7.20% | 22.27% | 39.95% | -1.49% |
CVX Chevron Corporation | 26.53% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between MRK and CVX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2001 | 0.31 |
Over the past year, the correlation between MRK and CVX has dropped to 0.08 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
MRK:
$295.45B
CVX:
$375.81B
MRK:
$3.58
CVX:
$5.75
MRK:
33.34
CVX:
32.89
MRK:
0.03
CVX:
3.20
MRK:
4.54
CVX:
1.95
MRK:
6.44
CVX:
2.05
MRK:
$65.59B
CVX:
$185.89B
MRK:
$49.79B
CVX:
$47.27B
MRK:
$22.69B
CVX:
$40.44B
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Return for Risk
MRK vs. CVX — Risk / Return Rank
MRK
CVX
MRK vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Merck & Co., Inc. (MRK) and Chevron Corporation (CVX). 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.
| MRK | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.32 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.03 | 2.92 | +2.11 |
| Martin ratioReturn relative to average drawdown | 12.59 | 7.37 | +5.22 |
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
| MRK | CVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 1.86 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.66 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.38 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.38 | +0.11 |
Drawdowns
MRK vs. CVX - Drawdown Comparison
The maximum MRK drawdown since its inception was -68.61%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for MRK and CVX.
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Drawdown Indicators
| MRK | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.61% | -55.77% | -12.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.37% | -13.99% | +2.62% |
Max Drawdown (3Y)Largest decline over 3 years | -43.44% | -20.64% | -22.80% |
Max Drawdown (5Y)Largest decline over 5 years | -43.44% | -24.95% | -18.49% |
Max Drawdown (10Y)Largest decline over 10 years | -43.44% | -55.77% | +12.33% |
Current DrawdownCurrent decline from peak | -4.65% | -9.56% | +4.91% |
Average DrawdownAverage peak-to-trough decline | -18.84% | -11.39% | -7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 5.53% | -1.00% |
Volatility
MRK vs. CVX - Volatility Comparison
Merck & Co., Inc. (MRK) has a higher volatility of 9.44% compared to Chevron Corporation (CVX) at 7.14%. This indicates that MRK's price experiences larger fluctuations and is considered to be riskier than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MRK | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.44% | 7.14% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 18.14% | 17.78% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.30% | 21.97% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 25.13% | -1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.96% | 29.16% | -6.20% |
Dividends
MRK vs. CVX - Dividend Comparison
MRK's dividend yield for the trailing twelve months is around 2.78%, less than CVX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.69% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
MRK Merck & Co., Inc. | 2.78% | 3.12% | 3.14% | 2.72% | 2.52% | 3.41% | 3.03% | 2.48% | 2.60% | 3.36% | 3.14% | 3.43% |
Financials
MRK vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between Merck & Co., Inc. and Chevron 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
MRK vs. CVX - Profitability Comparison
MRK - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a gross profit of 13.34B and revenue of 16.29B. Therefore, the gross margin over that period was 81.9%.
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%.
MRK - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported an operating income of -1.88B and revenue of 16.29B, resulting in an operating margin of -11.6%.
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%.
MRK - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a net income of -4.24B and revenue of 16.29B, resulting in a net margin of -26.0%.
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%.
Frequently Asked Questions
MRK and CVX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MRK has higher volatility (9.44%) compared to CVX (7.14%). In terms of maximum drawdown, MRK dropped -68.61% vs CVX's -55.77%.
MRK currently has the higher Sharpe Ratio (2.10 vs 1.86), 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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