VLO vs. CVX
VLO (Valero Energy Corporation) and CVX (Chevron Corporation) are both stocks. Both are in the Energy sector — VLO in Oil & Gas Refining & Marketing, CVX in Oil & Gas Integrated. Over the past 10 years, VLO returned 24.74%/yr vs 10.80%/yr for CVX. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
VLO vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, VLO achieves a 93.08% return, which is significantly higher than CVX's 29.03% return. Over the past 10 years, VLO has outperformed CVX with an annualized return of 24.74%, while CVX has yielded a comparatively lower 10.80% annualized return.
VLO
- 1D
- -1.23%
- 1M
- 27.54%
- 6M
- 67.02%
- YTD
- 93.08%
- 1Y
- 119.75%
- 3Y*
- 40.21%
- 5Y*
- 41.92%
- 10Y*
- 24.74%
- ALL TIME*
- 12.10%
CVX
- 1D
- 1.00%
- 1M
- 10.24%
- 6M
- 17.95%
- YTD
- 29.03%
- 1Y
- 34.01%
- 3Y*
- 11.33%
- 5Y*
- 19.10%
- 10Y*
- 10.80%
- ALL TIME*
- 10.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.25B | $1.53B | $1.72B | |
| $885.69M | $881.35M | $792.75M |
VLO vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLO Valero Energy Corporation | 93.08% | 36.97% | -2.96% | 5.86% | 74.95% | 40.25% | -35.69% | 30.27% | -15.73% | 38.66% |
CVX Chevron Corporation | 29.03% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between VLO and CVX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2001 | 0.58 |
The correlation between VLO and CVX has been stable across timeframes, ranging from 0.54 to 0.64 - a consistent structural relationship.
Fundamentals
VLO:
$92.32B
CVX:
$384.34B
VLO:
$13.87
CVX:
$5.57
VLO:
22.42
CVX:
34.64
VLO:
0.08
CVX:
3.37
VLO:
0.75
CVX:
2.05
VLO:
3.44
CVX:
2.09
VLO:
$126.17B
CVX:
$185.89B
VLO:
$12.45B
CVX:
$47.27B
VLO:
$9.02B
CVX:
$40.44B
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Return for Risk
VLO vs. CVX — Risk / Return Rank
VLO
CVX
VLO vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Valero Energy Corporation (VLO) 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.
| VLO | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.26 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 9.94 | 1.64 | +8.30 |
| Martin ratioReturn relative to average drawdown | 23.58 | 4.51 | +19.07 |
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Drawdowns
VLO vs. CVX - Drawdown Comparison
The maximum VLO drawdown since its inception was -87.50%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for VLO and CVX.
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Drawdown Indicators
| VLO | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.50% | -55.77% | -31.73% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -20.81% | +8.69% |
Max Drawdown (3Y)Largest decline over 3 years | -41.22% | -20.81% | -20.41% |
Max Drawdown (5Y)Largest decline over 5 years | -41.22% | -24.95% | -16.27% |
Max Drawdown (10Y)Largest decline over 10 years | -71.88% | -55.77% | -16.11% |
Current DrawdownCurrent decline from peak | -1.23% | -7.77% | +6.54% |
Average DrawdownAverage peak-to-trough decline | -34.18% | -11.40% | -22.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.10% | 7.57% | -2.47% |
Volatility
VLO vs. CVX - Volatility Comparison
Valero Energy Corporation (VLO) has a higher volatility of 11.41% compared to Chevron Corporation (CVX) at 7.09%. This indicates that VLO'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
| VLO | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.41% | 7.09% | +4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 27.76% | 17.74% | +10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.03% | 22.70% | +13.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.90% | 25.12% | +11.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.53% | 29.24% | +11.29% |
Dividends
VLO vs. CVX - Dividend Comparison
VLO's dividend yield for the trailing twelve months is around 1.50%, less than CVX's 3.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.62% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
VLO Valero Energy Corporation | 1.50% | 2.78% | 3.49% | 3.14% | 3.09% | 5.22% | 6.93% | 3.84% | 4.27% | 2.34% | 3.51% | 2.40% |
Financials
VLO vs. CVX - Financials Comparison
This section allows you to compare key financial metrics between Valero Energy Corporation 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
VLO vs. CVX - Profitability Comparison
VLO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Valero Energy Corporation reported a gross profit of 6.20B and revenue of 32.38B. 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%.
VLO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Valero Energy Corporation reported an operating income of 1.73B and revenue of 32.38B, resulting in an operating margin of 5.4%.
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%.
VLO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Valero Energy Corporation reported a net income of 1.26B and revenue of 32.38B, resulting in a net margin of 3.9%.
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
VLO and CVX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLO has higher volatility (11.41%) compared to CVX (7.09%). In terms of maximum drawdown, VLO dropped -87.50% vs CVX's -55.77%.
VLO currently has the higher Sharpe Ratio (3.34 vs 1.50), 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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