CVX vs MUR: Correlation
Measured on weekly returns over the past three years, Chevron Corporation (CVX) and Murphy Oil Corporation (MUR) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVX and MUR?
Over the past 3 years, CVX and MUR moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 676.3 %².
Among the 29 assets we track against CVX, MUR ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MUR outperformed by 21.3 percentage points (+30.4% for CVX against +51.7% for MUR). Risk is not evenly split, since MUR carries 1.7 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.
CVX vs MUR: side by side
| CVX (Chevron Corporation) | MUR (Murphy Oil Corporation) | |
|---|---|---|
| 1-year return | +30.4% | +51.7% |
| 5-year return | +148.1% | +96.7% |
| Volatility (ann.) | 23.8% | 39.7% |
| Beta vs S&P 500 | 0.22 | 0.16 |
| Max drawdown (3Y) | -20.8% | -58.5% |
| Market cap | $391.9B | $5.2B |
| P/E (trailing) | 19.3 | 17.2 |
| Dividend yield | 3.49% | 3.89% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | CVX | MUR |
|---|---|---|
| 2022 | +58.5% | +68.5% |
| 2023 | -13.6% | +2.0% |
| 2024 | +1.3% | -26.8% |
| 2025 | +10.1% | +8.7% |
| 2026 | +34.7% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVX and MUR good diversifiers for each other?
To a limited degree. At 0.72 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 MUR?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.68 over the last year and 0.75 over 5 years.
Is MUR a good diversifier for CVX?
To a limited degree. At 0.72 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 0.72 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
$ curl https://www.pairbook.io/api/v1/pairs/cvx-vs-mur.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvx-vs-mur/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVX correlations · MUR correlations
