BGR vs CVX: Correlation
BlackRock Energy and Resources Trust (BGR) and Chevron Corporation (CVX) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGR and CVX?
Across a 3-year window, the weekly returns of BGR and CVX correlate at 0.78, strong. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 363.3 %².
Within BGR's tracked universe of 19 assets, CVX comes in at #6 by 3-year correlation. Neither side won the trailing year by much: +35.3% against +30.4%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BGR vs CVX: side by side
| BGR (BlackRock Energy and Resources Trust) | CVX (Chevron Corporation) | |
|---|---|---|
| 1-year return | +35.3% | +30.4% |
| 5-year return | +165.0% | +148.1% |
| Volatility (ann.) | 19.7% | 23.8% |
| Beta vs S&P 500 | 0.21 | 0.22 |
| Max drawdown (3Y) | -18.3% | -20.8% |
| Market cap | $0.4B | $391.9B |
| P/E (trailing) | 10.8 | 19.3 |
| Dividend yield | 6.86% | 3.49% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | BGR | CVX |
|---|---|---|
| 2022 | +38.9% | +58.5% |
| 2023 | +5.8% | -13.6% |
| 2024 | +8.1% | +1.3% |
| 2025 | +17.3% | +10.1% |
| 2026 | +30.7% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGR and CVX good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BGR and CVX?
As of 2026-08-27, the correlation of weekly returns between BGR and CVX is 0.78 over 3 years, 0.81 over 1 year and 0.81 over 5 years.
Is CVX a good diversifier for BGR?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
A reading of 0.78 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BGR correlations · CVX correlations
