CVX vs EOG: Correlation
Measured on weekly returns over the past three years, Chevron Corporation (CVX) and EOG Resources (EOG) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVX and EOG?
Across a 3-year window, the weekly returns of CVX and EOG correlate at 0.75, strong. Recent behaviour matches the longer record: 0.82 over 1 year against 0.75 over 3. Stretching to 5 years gives 0.79, with an annualized covariance of 500.7 %².
Among the 29 assets we track against CVX, EOG ranks #6 by 3-year correlation. Over the last 12 months CVX came out ahead by 8.7 percentage points (+30.4% against +21.7%). Across three years, the rolling one-year figure varied moderately, from 0.60 to 0.87.
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.
CVX vs EOG: side by side
| CVX (Chevron Corporation) | EOG (EOG Resources) | |
|---|---|---|
| 1-year return | +30.4% | +21.7% |
| 5-year return | +148.1% | +171.5% |
| Volatility (ann.) | 23.8% | 28.1% |
| Beta vs S&P 500 | 0.22 | 0.14 |
| Max drawdown (3Y) | -20.8% | -23.7% |
| Market cap | $391.9B | $75.8B |
| P/E (trailing) | 19.3 | 11.3 |
| Dividend yield | 3.49% | 2.82% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | CVX | EOG |
|---|---|---|
| 2022 | +58.5% | +56.9% |
| 2023 | -13.6% | -2.0% |
| 2024 | +1.3% | +4.3% |
| 2025 | +10.1% | -11.4% |
| 2026 | +34.7% | +41.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVX and EOG good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CVX and EOG?
As of 2026-08-27, the correlation of weekly returns between CVX and EOG is 0.75 over 3 years, 0.82 over 1 year and 0.79 over 5 years.
Is EOG a good diversifier for CVX?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 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.
Use this data
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Related comparisons
Hubs: CVX correlations · EOG correlations
