BZAI vs CVX: Correlation
Measured on weekly returns over the past three years, Blaize Holdings, Inc. (BZAI) and Chevron Corporation (CVX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZAI and CVX?
Across a 3-year window, the weekly returns of BZAI and CVX correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives -0.15, with an annualized covariance of -486.1 %².
By 3-year correlation, CVX places #11 of the 16 assets tracked against BZAI. The last year tells two different stories: CVX led by 117.7 percentage points, -87.3% for BZAI against +30.4% for CVX. Risk is not evenly split, since BZAI carries 4.1 times the volatility of the other side.
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.
BZAI vs CVX: side by side
| BZAI (Blaize Holdings, Inc.) | CVX (Chevron Corporation) | |
|---|---|---|
| 1-year return | -87.3% | +30.4% |
| 5-year return | -94.8% | +148.1% |
| Volatility (ann.) | 97.0% | 23.8% |
| Beta vs S&P 500 | 0.55 | 0.22 |
| Max drawdown (3Y) | -97.0% | -20.8% |
| Market cap | $0.1B | $391.9B |
| P/E (trailing) | – | 19.3 |
| Dividend yield | 0.00% | 3.49% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | BZAI | CVX |
|---|---|---|
| 2022 | – | +58.5% |
| 2023 | +5.6% | -13.6% |
| 2024 | +39.8% | +1.3% |
| 2025 | -87.0% | +10.1% |
| 2026 | -73.8% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZAI and CVX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BZAI and CVX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.31 over the last year and -0.15 over 5 years.
Is CVX a good diversifier for BZAI?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BZAI correlations · CVX correlations
