CHRD vs CVX: Correlation
How closely do Chord Energy Corporation (CHRD) and Chevron Corporation (CVX) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and CVX?
Over the past 3 years, CHRD and CVX moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 622.7 %².
Within CHRD's tracked universe of 38 assets, CVX comes in at #18 by 3-year correlation. On 12-month performance CHRD holds a 10.2-point edge, +40.6% 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.
CHRD vs CVX: side by side
| CHRD (Chord Energy Corporation) | CVX (Chevron Corporation) | |
|---|---|---|
| 1-year return | +40.6% | +30.4% |
| 5-year return | +164.0% | +148.1% |
| Volatility (ann.) | 35.4% | 23.8% |
| Beta vs S&P 500 | 0.34 | 0.22 |
| Max drawdown (3Y) | -53.9% | -20.8% |
| Market cap | $8.0B | $391.9B |
| P/E (trailing) | 9.5 | 19.3 |
| Dividend yield | 3.71% | 3.49% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | CHRD | CVX |
|---|---|---|
| 2022 | +34.1% | +58.5% |
| 2023 | +31.7% | -13.6% |
| 2024 | -25.0% | +1.3% |
| 2025 | -16.4% | +10.1% |
| 2026 | +62.0% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and CVX good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHRD and CVX?
As of 2026-08-27, the correlation of weekly returns between CHRD and CVX is 0.74 over 3 years, 0.76 over 1 year and 0.74 over 5 years.
Is CVX a good diversifier for CHRD?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CHRD correlations · CVX correlations
