TSM vs. CVX
TSM (Taiwan Semiconductor Manufacturing Company Limited) and CVX (Chevron Corporation) are both stocks. TSM operates in Semiconductors (Technology), while CVX operates in Oil & Gas Integrated (Energy). Over the past 10 years, TSM returned 35.80%/yr vs 10.94%/yr for CVX. At a 0.30 correlation, their price movements are largely independent.
Performance
TSM vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, TSM achieves a 40.22% return, which is significantly higher than CVX's 25.18% return. Over the past 10 years, TSM has outperformed CVX with an annualized return of 35.80%, while CVX has yielded a comparatively lower 10.94% annualized return.
TSM
- 1D
- 0.68%
- 1M
- 6.28%
- YTD
- 40.22%
- 6M
- 45.91%
- 1Y
- 98.93%
- 3Y*
- 60.80%
- 5Y*
- 31.30%
- 10Y*
- 35.80%
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%
TSM vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.22% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
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 TSM and CVX is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.30 |
The correlation between TSM and CVX shifts across timeframes, from -0.17 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
Fundamentals
TSM:
$2.20T
CVX:
$371.80B
TSM:
NT$373.98
CVX:
$5.75
TSM:
35.89
CVX:
32.54
TSM:
1.03
CVX:
3.17
TSM:
16.87
CVX:
1.93
TSM:
11.82
CVX:
2.02
TSM:
NT$4.13T
CVX:
$185.89B
TSM:
NT$2.55T
CVX:
$47.27B
TSM:
NT$3.14T
CVX:
$40.44B
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Return for Risk
TSM vs. CVX — Risk / Return Rank
TSM
CVX
TSM vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) 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.
| TSM | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.27 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.48 | 2.48 | +3.00 |
| Martin ratioReturn relative to average drawdown | 19.42 | 6.10 | +13.33 |
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Drawdowns
TSM vs. CVX - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for TSM and CVX.
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Drawdown Indicators
| TSM | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -55.77% | -33.31% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -13.99% | -4.15% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -20.64% | -16.18% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -24.95% | -31.52% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -55.77% | -0.70% |
Current DrawdownCurrent decline from peak | -4.87% | -10.52% | +5.65% |
Average DrawdownAverage peak-to-trough decline | -42.85% | -11.39% | -31.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.11% | 5.68% | -0.57% |
Volatility
TSM vs. CVX - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 13.42% compared to Chevron Corporation (CVX) at 7.62%. This indicates that TSM'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
| TSM | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.42% | 7.62% | +5.80% |
Volatility (6M)Calculated over the trailing 6-month period | 28.65% | 17.86% | +10.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.69% | 22.06% | +14.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.46% | 25.15% | +12.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.23% | 29.16% | +5.07% |
Dividends
TSM vs. CVX - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.83%, less 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% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.83% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Financials
TSM vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between Taiwan Semiconductor Manufacturing Company Limited 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
TSM vs. CVX - Profitability Comparison
TSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 759.06B and revenue of 1.15T. Therefore, the gross margin over that period was 66.3%.
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%.
TSM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 664.08B and revenue of 1.15T, resulting in an operating margin of 58.0%.
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%.
TSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 578.40B and revenue of 1.15T, resulting in a net margin of 50.5%.
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
TSM and CVX have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (13.42%) compared to CVX (7.62%). In terms of maximum drawdown, TSM dropped -89.08% vs CVX's -55.77%.
TSM currently has the higher Sharpe Ratio (2.71 vs 1.57), 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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