CVX vs LOAR: Correlation
Measured on weekly returns over the past three years, Chevron Corporation (CVX) and Loar Holdings Inc. (LOAR) 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 CVX and LOAR?
Across a 3-year window, the weekly returns of CVX and LOAR correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.21). Stretching to 5 years gives n/a, with an annualized covariance of -244.4 %².
Among the 29 assets we track against CVX, LOAR ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CVX ahead by 30.8 points (+30.4% versus -0.4%). Note the risk asymmetry: LOAR runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 LOAR: side by side
| CVX (Chevron Corporation) | LOAR (Loar Holdings Inc.) | |
|---|---|---|
| 1-year return | +30.4% | -0.4% |
| 5-year return | +148.1% | n/a |
| Volatility (ann.) | 23.8% | 49.2% |
| Beta vs S&P 500 | 0.22 | 1.21 |
| Max drawdown (3Y) | -20.8% | -46.0% |
| Market cap | $391.9B | $6.8B |
| P/E (trailing) | 19.3 | 102.9 |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | CVX | LOAR |
|---|---|---|
| 2022 | +58.5% | – |
| 2023 | -13.6% | – |
| 2024 | +1.3% | – |
| 2025 | +10.1% | -8.0% |
| 2026 | +34.7% | +7.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVX and LOAR good diversifiers for each other?
Yes. With a correlation of -0.21, CVX and LOAR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CVX and LOAR?
As of 2026-08-27, the correlation of weekly returns between CVX and LOAR is -0.21 over 3 years, -0.37 over 1 year and n/a over 5 years.
Is LOAR a good diversifier for CVX?
Yes. With a correlation of -0.21, CVX and LOAR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvx-vs-loar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvx-vs-loar/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVX correlations · LOAR correlations
