PSX vs. COP
PSX (Phillips 66) and COP (ConocoPhillips Company) are both stocks. Both are in the Energy sector — PSX in Oil & Gas Refining & Marketing, COP in Oil & Gas E&P. Over the past 10 years, PSX returned 12.88%/yr vs 13.90%/yr for COP. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
PSX vs. COP - Performance Comparison
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Returns By Period
In the year-to-date period, PSX achieves a 45.34% return, which is significantly higher than COP's 29.12% return. Over the past 10 years, PSX has underperformed COP with an annualized return of 12.88%, while COP has yielded a comparatively higher 13.90% annualized return.
PSX
- 1D
- 1.16%
- 1M
- 4.23%
- YTD
- 45.34%
- 6M
- 34.11%
- 1Y
- 64.71%
- 3Y*
- 28.25%
- 5Y*
- 19.51%
- 10Y*
- 12.88%
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%
PSX vs. COP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSX Phillips 66 | 45.34% | 17.51% | -11.63% | 33.07% | 49.58% | 8.51% | -33.85% | 33.97% | -12.28% | 20.94% |
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 PSX and COP is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since May 2, 2012 | 0.63 |
The correlation between PSX and COP has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.
Fundamentals
PSX:
$74.48B
COP:
$145.83B
PSX:
$10.17
COP:
$5.90
PSX:
18.16
COP:
20.18
PSX:
0.10
COP:
1.17
PSX:
0.56
COP:
2.53
PSX:
2.61
COP:
2.26
PSX:
$134.70B
COP:
$58.31B
PSX:
$5.94B
COP:
$17.02B
PSX:
$9.17B
COP:
$22.44B
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Return for Risk
PSX vs. COP — Risk / Return Rank
PSX
COP
PSX vs. COP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Phillips 66 (PSX) 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.
| PSX | COP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.19 | 1.37 | +0.82 |
Sortino ratioReturn per unit of downside risk | 2.85 | 1.92 | +0.93 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.22 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 3.76 | 2.69 | +1.07 |
Martin ratioReturn relative to average drawdown | 10.90 | 6.13 | +4.77 |
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
| PSX | COP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 1.37 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.58 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.37 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.23 | +0.28 |
Drawdowns
PSX vs. COP - Drawdown Comparison
The maximum PSX drawdown since its inception was -64.21%, smaller than the maximum COP drawdown of -84.55%. Use the drawdown chart below to compare losses from any high point for PSX and COP.
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Drawdown Indicators
| PSX | COP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.21% | -84.55% | +20.34% |
Max Drawdown (1Y)Largest decline over 1 year | -17.28% | -14.90% | -2.38% |
Max Drawdown (3Y)Largest decline over 3 years | -44.37% | -36.19% | -8.18% |
Max Drawdown (5Y)Largest decline over 5 years | -44.37% | -36.19% | -8.18% |
Max Drawdown (10Y)Largest decline over 10 years | -64.21% | -70.66% | +6.45% |
Current DrawdownCurrent decline from peak | -1.20% | -10.36% | +9.16% |
Average DrawdownAverage peak-to-trough decline | -14.75% | -25.49% | +10.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.96% | 6.53% | -0.57% |
Volatility
PSX vs. COP - Volatility Comparison
Phillips 66 (PSX) has a higher volatility of 9.67% compared to ConocoPhillips Company (COP) at 8.92%. This indicates that PSX'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.
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Volatility by Period
| PSX | COP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.67% | 8.92% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 23.68% | 22.81% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.66% | 29.27% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.22% | 32.72% | +0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.31% | 37.67% | -2.36% |
Dividends
PSX vs. COP - Dividend Comparison
PSX's dividend yield for the trailing twelve months is around 2.67%, 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% |
PSX Phillips 66 | 2.67% | 3.68% | 3.95% | 3.15% | 3.68% | 5.00% | 5.15% | 3.14% | 3.60% | 2.70% | 2.84% | 2.67% |
Financials
PSX vs. COP - Financials Comparison
This section allows you to compare key financial metrics between Phillips 66 and ConocoPhillips Company. 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
PSX vs. COP - Profitability Comparison
PSX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Phillips 66 reported a gross profit of 0.00 and revenue of 33.00B. Therefore, the gross margin over that period was 0.0%.
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%.
PSX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Phillips 66 reported an operating income of 0.00 and revenue of 33.00B, resulting in an operating margin of 0.0%.
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%.
PSX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Phillips 66 reported a net income of 207.00M and revenue of 33.00B, resulting in a net margin of 0.6%.
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
PSX and COP have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSX has higher volatility (9.67%) compared to COP (8.92%). In terms of maximum drawdown, PSX dropped -64.21% vs COP's -84.55%.
PSX currently has the higher Sharpe Ratio (2.19 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.
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