PBF vs. CVX

Last updated Jun 4, 2026

PBF (PBF Energy Inc.) and CVX (Chevron Corporation) are both stocks. Both are in the Energy sector — PBF in Oil & Gas Refining & Marketing, CVX in Oil & Gas Integrated. Over the past 10 years, PBF returned 7.59%/yr vs 11.15%/yr for CVX. At a 0.49 correlation, their price movements are largely independent.

Performance

PBF vs. CVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PBF Energy Inc. (PBF) and Chevron Corporation (CVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBF achieves a 59.20% return, which is significantly higher than CVX's 26.84% return. Over the past 10 years, PBF has underperformed CVX with an annualized return of 7.59%, while CVX has yielded a comparatively higher 11.15% annualized return.

PBF

• 1D: -1.44%
• 1M: -5.91%
• YTD: 59.20%
• 6M: 27.78%
• 1Y: 125.28%
• 3Y*: 7.98%
• 5Y*: 21.99%
• 10Y*: 7.59%

CVX

• 1D: 1.15%
• 1M: -0.43%
• YTD: 26.84%
• 6M: 27.53%
• 1Y: 41.64%
• 3Y*: 11.27%
• 5Y*: 16.52%
• 10Y*: 11.15%

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

PBF vs. CVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBF PBF Energy Inc.	59.20%	6.75%	-37.99%	9.97%	215.81%	82.68%	-77.12%	0.16%	-4.93%	33.64%
CVX Chevron Corporation	26.84%	10.10%	1.29%	-13.63%	58.46%	46.24%	-25.95%	15.27%	-9.75%	10.59%

Correlation

The correlation between PBF and CVX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Dec 14, 2012	0.49

The correlation between PBF and CVX has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

Fundamentals

Market Cap PBF : $5.13B CVX : $376.75B
EPS PBF : $3.74 CVX : $5.75
PE Ratio PBF : 11.38 CVX : 32.97
PEG Ratio PBF : 0.04 CVX : 3.21
PS Ratio PBF : 0.17 CVX : 1.95
PB Ratio PBF : 0.91 CVX : 2.05
Total Revenue (TTM) PBF : $30.17B CVX : $185.89B
Gross Profit (TTM) PBF : $127.70M CVX : $47.27B
EBITDA (TTM) PBF : $812.40M CVX : $40.44B

Return for Risk

PBF vs. CVX — Risk / Return Rank

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

PBF

PBF Risk / Return Rank: 83
PBF Sharpe Ratio Rank: 87
PBF Sortino Ratio Rank: 81
PBF Omega Ratio Rank: 80
PBF Calmar Ratio Rank: 85
PBF Martin Ratio Rank: 83

CVX

CVX Risk / Return Rank: 83
CVX Sharpe Ratio Rank: 86
CVX Sortino Ratio Rank: 82
CVX Omega Ratio Rank: 81
CVX Calmar Ratio Rank: 82
CVX Martin Ratio Rank: 82

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.

PBF vs. CVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PBF Energy Inc. (PBF) 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.

	PBF	CVX	Difference
Sharpe ratio Return per unit of total volatility	1.93	1.90	+0.04
Sortino ratio Return per unit of downside risk	2.41	2.49	-0.08
Omega ratio Gain probability vs. loss probability	1.31	1.32	-0.02
Calmar ratio Return relative to maximum drawdown	3.61	2.99	+0.62
Martin ratio Return relative to average drawdown	8.12	7.70	+0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBF vs. CVX - Sharpe Ratio Comparison

The current PBF Sharpe Ratio is 1.93, which is comparable to the CVX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of PBF and CVX, 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

	PBF	CVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.90	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.66	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.38	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.38	-0.26

Drawdowns

PBF vs. CVX - Drawdown Comparison

The maximum PBF drawdown since its inception was -91.51%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for PBF and CVX.

Drawdown Indicators

	PBF	CVX	Difference
Max Drawdown Largest peak-to-trough decline	-91.51%	-55.77%	-35.74%
Max Drawdown (1Y) Largest decline over 1 year	-34.86%	-13.99%	-20.87%
Max Drawdown (3Y) Largest decline over 3 years	-76.04%	-20.64%	-55.40%
Max Drawdown (5Y) Largest decline over 5 years	-76.04%	-24.95%	-51.09%
Max Drawdown (10Y) Largest decline over 10 years	-91.51%	-55.77%	-35.74%
Current Drawdown Current decline from peak	-25.71%	-9.33%	-16.38%
Average Drawdown Average peak-to-trough decline	-37.90%	-11.39%	-26.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.51%	5.42%	+10.09%

Volatility

PBF vs. CVX - Volatility Comparison

PBF Energy Inc. (PBF) has a higher volatility of 17.21% compared to Chevron Corporation (CVX) at 8.29%. This indicates that PBF'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.

Volatility by Period

	PBF	CVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.21%	8.29%	+8.92%
Volatility (6M) Calculated over the trailing 6-month period	47.21%	17.82%	+29.39%
Volatility (1Y) Calculated over the trailing 1-year period	65.37%	22.10%	+43.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.56%	25.12%	+35.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.22%	29.16%	+38.06%

Dividends

PBF vs. CVX - Dividend Comparison

PBF's dividend yield for the trailing twelve months is around 2.59%, less than CVX's 3.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVX Chevron Corporation	3.68%	4.49%	4.50%	4.05%	3.16%	4.52%	6.11%	3.95%	4.12%	3.45%	3.64%	4.76%
PBF PBF Energy Inc.	2.59%	4.06%	3.86%	1.93%	0.49%	0.00%	4.23%	3.83%	3.67%	3.39%	4.30%	3.26%

Financials

PBF vs. CVX - Profitability Comparison

The chart below illustrates the profitability comparison between PBF Energy Inc. and Chevron Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PBF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PBF Energy Inc. reported a gross profit of 278.50M and revenue of 7.90B. Therefore, the gross margin over that period was 3.5%.

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%.

PBF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PBF Energy Inc. reported an operating income of 299.60M and revenue of 7.90B, resulting in an operating margin of 3.8%.

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%.

PBF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PBF Energy Inc. reported a net income of 198.30M and revenue of 7.90B, resulting in a net margin of 2.5%.

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

Can I hold both PBF and CVX in my portfolio?

PBF and CVX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBF or CVX?

PBF has higher volatility (17.21%) compared to CVX (8.29%). In terms of maximum drawdown, PBF dropped -91.51% vs CVX's -55.77%.

Which has better risk-adjusted returns?

PBF currently has the higher Sharpe Ratio (1.93 vs 1.90), 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.