CVX vs PEO: Correlation
How closely do Chevron Corporation (CVX) and Adams Natural Resources Fund, Inc. (PEO) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVX and PEO?
On 3 years of weekly data the CVX/PEO correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.82 over 3. The 5-year figure is 0.86, and annualized covariance runs at 397.2 %².
Few assets follow CVX as closely as PEO, which ranks #2 of 29 tracked partners. On 12-month performance PEO holds a 11.2-point edge, +30.4% against +41.6%.
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 PEO: side by side
| CVX (Chevron Corporation) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +30.4% | +41.6% |
| 5-year return | +148.1% | +179.3% |
| Volatility (ann.) | 23.8% | 20.2% |
| Beta vs S&P 500 | 0.22 | 0.30 |
| Max drawdown (3Y) | -20.8% | -18.9% |
| Market cap | $391.9B | $0.8B |
| P/E (trailing) | 19.3 | 4.8 |
| Dividend yield | 3.49% | 7.09% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | CVX | PEO |
|---|---|---|
| 2022 | +58.5% | +41.8% |
| 2023 | -13.6% | +0.9% |
| 2024 | +1.3% | +13.6% |
| 2025 | +10.1% | +10.0% |
| 2026 | +34.7% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVX and PEO good diversifiers for each other?
No: a correlation of 0.82 means CVX and PEO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CVX and PEO?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.83 over the last year and 0.86 over 5 years.
Is PEO a good diversifier for CVX?
No: a correlation of 0.82 means CVX and PEO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
A reading of 0.82 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvx-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvx-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVX correlations · PEO correlations
