SHEL vs. CVX
SHEL (Shell plc) and CVX (Chevron Corporation) are both stocks. Both operate in the Oil & Gas Integrated industry within the Energy sector. Over the past 10 years, SHEL returned 8.73%/yr vs 10.03%/yr for CVX. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
SHEL vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, SHEL achieves a 16.40% return, which is significantly lower than CVX's 21.82% return. Over the past 10 years, SHEL has underperformed CVX with an annualized return of 8.73%, while CVX has yielded a comparatively higher 10.03% annualized return.
SHEL
- 1D
- 2.13%
- 1M
- -1.96%
- 6M
- 19.36%
- YTD
- 16.40%
- 1Y
- 20.62%
- 3Y*
- 15.99%
- 5Y*
- 21.41%
- 10Y*
- 8.73%
CVX
- 1D
- 3.29%
- 1M
- -2.68%
- 6M
- 14.37%
- YTD
- 21.82%
- 1Y
- 22.23%
- 3Y*
- 10.41%
- 5Y*
- 17.01%
- 10Y*
- 10.03%
SHEL vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHEL Shell plc | 16.40% | 22.16% | -0.87% | 20.19% | 36.18% | 34.27% | -41.08% | 6.38% | -7.23% | 21.67% |
CVX Chevron Corporation | 21.82% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between SHEL and CVX 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 | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2005 | 0.69 |
The correlation between SHEL and CVX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
Fundamentals
SHEL:
$234.14B
CVX:
$362.89B
SHEL:
$6.45
CVX:
$5.57
SHEL:
13.02
CVX:
32.71
SHEL:
0.65
CVX:
3.18
SHEL:
0.91
CVX:
1.94
SHEL:
1.38
CVX:
1.97
SHEL:
$266.82B
CVX:
$185.89B
SHEL:
$41.65B
CVX:
$47.27B
SHEL:
$57.44B
CVX:
$40.44B
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Return for Risk
SHEL vs. CVX — Risk / Return Rank
SHEL
CVX
SHEL vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shell plc (SHEL) 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.
| SHEL | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.07 | +0.08 |
| Martin ratioReturn relative to average drawdown | 3.66 | 3.03 | +0.62 |
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Drawdowns
SHEL vs. CVX - Drawdown Comparison
The maximum SHEL drawdown since its inception was -71.57%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for SHEL and CVX.
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Drawdown Indicators
| SHEL | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.57% | -55.77% | -15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -17.98% | -20.81% | +2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.47% | -20.81% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -25.04% | -24.95% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -71.57% | -55.77% | -15.80% |
Current DrawdownCurrent decline from peak | -9.99% | -12.92% | +2.93% |
Average DrawdownAverage peak-to-trough decline | -16.72% | -11.40% | -5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.66% | 7.36% | -1.70% |
Volatility
SHEL vs. CVX - Volatility Comparison
Shell plc (SHEL) and Chevron Corporation (CVX) have volatilities of 8.32% and 8.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHEL | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.32% | 8.57% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 18.31% | 17.78% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.74% | 22.79% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.14% | 25.21% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.71% | 29.24% | +1.47% |
Dividends
SHEL vs. CVX - Dividend Comparison
SHEL's dividend yield for the trailing twelve months is around 3.52%, less than CVX's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.83% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
SHEL Shell plc | 3.52% | 3.90% | 4.39% | 3.76% | 3.48% | 3.78% | 5.69% | 6.27% | 6.27% | 2.75% | 6.49% | 8.17% |
Financials
SHEL vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between Shell plc 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
SHEL vs. CVX - Profitability Comparison
SHEL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Shell plc reported a gross profit of 13.31B and revenue of 69.57B. Therefore, the gross margin over that period was 19.1%.
CVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.
SHEL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Shell plc reported an operating income of 10.35B and revenue of 69.57B, 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 Jul 2026, Chevron Corporation reported an operating income of 3.24B and revenue of 47.56B, resulting in an operating margin of 6.8%.
SHEL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Shell plc reported a net income of 5.68B and revenue of 69.57B, resulting in a net margin of 8.2%.
CVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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
SHEL and CVX 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.
CVX has higher volatility (8.57%) compared to SHEL (8.32%). In terms of maximum drawdown, SHEL dropped -71.57% vs CVX's -55.77%.
CVX currently has the higher Sharpe Ratio (0.98 vs 0.95), 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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