OKE vs. CVX
OKE (ONEOK, Inc.) and CVX (Chevron Corporation) are both stocks. Both are in the Energy sector — OKE in Oil & Gas Midstream, CVX in Oil & Gas Integrated. Over the past 10 years, OKE returned 13.77%/yr vs 10.94%/yr for CVX. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
OKE vs. CVX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with OKE having a 26.44% return and CVX slightly lower at 25.18%. Over the past 10 years, OKE has outperformed CVX with an annualized return of 13.77%, while CVX has yielded a comparatively lower 10.94% annualized return.
OKE
- 1D
- 1.56%
- 1M
- 2.03%
- YTD
- 26.44%
- 6M
- 26.28%
- 1Y
- 15.65%
- 3Y*
- 20.59%
- 5Y*
- 16.74%
- 10Y*
- 13.77%
CVX
- 1D
- 0.75%
- 1M
- 1.58%
- YTD
- 25.18%
- 6M
- 27.20%
- 1Y
- 34.55%
- 3Y*
- 10.25%
- 5Y*
- 16.33%
- 10Y*
- 10.94%
OKE vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OKE ONEOK, Inc. | 26.44% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
CVX Chevron Corporation | 25.18% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between OKE and CVX is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.58 |
The correlation between OKE and CVX shifts across timeframes, from 0.54 (3 years) to 0.65 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
OKE:
$57.22B
CVX:
$371.80B
OKE:
$5.61
CVX:
$5.75
OKE:
16.15
CVX:
32.54
OKE:
1.15
CVX:
3.17
OKE:
1.62
CVX:
1.93
OKE:
2.56
CVX:
2.02
OKE:
$35.20B
CVX:
$185.89B
OKE:
$8.43B
CVX:
$47.27B
OKE:
$7.85B
CVX:
$40.44B
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Return for Risk
OKE vs. CVX — Risk / Return Rank
OKE
CVX
OKE vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ONEOK, Inc. (OKE) 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.
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.
| OKE | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.27 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 2.48 | -1.73 |
| Martin ratioReturn relative to average drawdown | 1.69 | 6.10 | -4.40 |
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Drawdowns
OKE vs. CVX - Drawdown Comparison
The maximum OKE drawdown since its inception was -80.17%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for OKE and CVX.
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Drawdown Indicators
| OKE | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.17% | -55.77% | -24.40% |
Max Drawdown (1Y)Largest decline over 1 year | -21.02% | -13.99% | -7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -42.17% | -20.64% | -21.53% |
Max Drawdown (5Y)Largest decline over 5 years | -42.17% | -24.95% | -17.22% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -55.77% | -24.40% |
Current DrawdownCurrent decline from peak | -16.43% | -10.52% | -5.91% |
Average DrawdownAverage peak-to-trough decline | -16.67% | -11.39% | -5.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.26% | 5.68% | +3.58% |
Volatility
OKE vs. CVX - Volatility Comparison
ONEOK, Inc. (OKE) has a higher volatility of 9.70% compared to Chevron Corporation (CVX) at 7.62%. This indicates that OKE'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
| OKE | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.70% | 7.62% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 20.76% | 17.86% | +2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.04% | 22.06% | +3.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.33% | 25.15% | +3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.88% | 29.16% | +9.72% |
Dividends
OKE vs. CVX - Dividend Comparison
OKE's dividend yield for the trailing twelve months is around 4.64%, more than CVX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.73% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
OKE ONEOK, Inc. | 4.64% | 5.61% | 3.94% | 5.44% | 5.69% | 6.36% | 9.74% | 4.66% | 6.01% | 5.09% | 4.28% | 9.85% |
Financials
OKE vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between ONEOK, 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
OKE vs. CVX - Profitability Comparison
OKE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ONEOK, Inc. reported a gross profit of 2.57B and revenue of 9.62B. Therefore, the gross margin over that period was 26.7%.
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%.
OKE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ONEOK, Inc. reported an operating income of 1.43B and revenue of 9.62B, resulting in an operating margin of 14.9%.
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%.
OKE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ONEOK, Inc. reported a net income of 774.00M and revenue of 9.62B, resulting in a net margin of 8.1%.
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
OKE and CVX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OKE has higher volatility (9.70%) compared to CVX (7.62%). In terms of maximum drawdown, OKE dropped -80.17% vs CVX's -55.77%.
CVX currently has the higher Sharpe Ratio (1.57 vs 0.60), 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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