Chevron Corp Correlations
| CVX Stock | USD 142.42 0.11 0.08% |
The correlation of Chevron Corp is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Chevron Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chevron Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chevron Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in manufacturing. Chevron |
The ability to find closely correlated positions to Chevron Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chevron Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Chevron Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Chevron Corp to buy it.
Moving together with Chevron Stock
| + | 0.82 | BP | BP PLC ADR | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.69 | SU | Suncor Energy | Sell-off Trend | PairCorr | |
| + | 0.89 | CVE | Cenovus Energy | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.74 | IMO | Imperial Oil | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.79 | ROI | RiskOn International | Symbol Change | PairCorr | |
| + | 0.9 | XOM | Exxon Mobil Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.72 | AE | Adams Resources Energy | Fiscal Quarter End 31st of December 2023 | PairCorr |
Moving against Chevron Stock
| - | 0.83 | SLNG | Stabilis Solutions | Downward Rally | PairCorr | |
| - | 0.82 | AM | Antero Midstream Partners | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.62 | NR | Newpark Resources | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.51 | EC | Ecopetrol SA ADR | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.51 | TTE | TotalEnergies SE ADR | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.51 | NS | NuStar Energy LP | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.5 | E | Eni SpA ADR | Fiscal Quarter End 31st of December 2023 | PairCorr |
Related Correlations Analysis
EC | NFG | TGS | XOM | KO | BAC | PG | VZ | TRV | ||
EC | 0.11 | 0.69 | -0.5 | 0.26 | 0.46 | 0.25 | 0.6 | 0.7 | EC | |
NFG | 0.11 | 0.05 | 0.37 | -0.48 | -0.27 | -0.25 | -0.53 | -0.34 | NFG | |
TGS | 0.69 | 0.05 | -0.25 | 0.26 | 0.48 | 0.14 | 0.37 | 0.52 | TGS | |
XOM | -0.5 | 0.37 | -0.25 | -0.09 | -0.27 | -0.05 | -0.71 | -0.57 | XOM | |
KO | 0.26 | -0.48 | 0.26 | -0.09 | 0.78 | 0.82 | 0.72 | 0.56 | KO | |
BAC | 0.46 | -0.27 | 0.48 | -0.27 | 0.78 | 0.55 | 0.72 | 0.75 | BAC | |
PG | 0.25 | -0.25 | 0.14 | -0.05 | 0.82 | 0.55 | 0.57 | 0.31 | PG | |
VZ | 0.6 | -0.53 | 0.37 | -0.71 | 0.72 | 0.72 | 0.57 | 0.81 | VZ | |
TRV | 0.7 | -0.34 | 0.52 | -0.57 | 0.56 | 0.75 | 0.31 | 0.81 | TRV | |
EC | NFG | TGS | XOM | KO | BAC | PG | VZ | TRV |
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations | High negative correlations |
Risk-Adjusted Indicators
There is a big difference between Chevron Stock performing well and Chevron Corp company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Chevron Corp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| EC | 1.41 | 0.15 | 0.09 | 0.14 | 1.57 | 0.09 | (1.53) | 2.82 | (3.28) | 9.11 | |
| NFG | 1.10 | (0.05) | 0.00 | (0.04) | 0.00 | (0.0354) | 0.00 | 2.71 | (2.19) | 6.00 | |
| TGS | 3.25 | 0.22 | 0.06 | 0.19 | 3.18 | 0.0464 | (3.47) | 6.80 | (4.81) | 30.55 | |
| XOM | 1.14 | (0.19) | 0.00 | (0.32) | 0.00 | (0.13) | 0.00 | 3.18 | (1.94) | 7.07 | |
| KO | 0.70 | 0.01 | 0.01 | 0.02 | 1.14 | 0.0062 | (0.69) | 1.44 | (1.07) | 5.79 | |
| BAC | 1.19 | 0.10 | 0.08 | 0.06 | 1.22 | 0.06 | (1.38) | 2.68 | (2.47) | 6.64 | |
| PG | 0.72 | (0.06) | 0.00 | (0.19) | 0.00 | (0.07) | 0.00 | 1.22 | (1.48) | 6.07 | |
| VZ | 1.03 | 0.20 | 0.17 | 0.25 | 0.97 | 0.13 | (1.16) | 1.94 | (1.78) | 12.26 | |
| TRV | 0.86 | 0.20 | 0.18 | 0.50 | 0.83 | 0.17 | (0.92) | 2.09 | (1.49) | 6.61 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Chevron Corp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Portfolio Anywhere Now
Portfolio AnywhereTrack or share privately all of your investments from the convenience of any device |
| All Next | Launch Module |
Chevron Corp Corporate Directors
Chevron Corp corporate directors refer to members of a Chevron Corp board of directors. The board of directors generally takes responsibility for the Chevron Corp's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Chevron Corp's board members must vote for the resolution. The Chevron Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Debra ReedKlages | Independent Director | Profile | |
| Enrique Hernandez | Independent Director | Profile | |
| John Stumpf | Independent Director | Profile | |
| Wanda Austin | Independent Director | Profile |
Already Invested in Chevron Corp?
The danger of trading Chevron Corp is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Chevron Corp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Chevron Corp. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Chevron Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Chevron Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Chevron Corp's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Chevron Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Chevron Corp Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chevron Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in manufacturing. For more information on how to buy Chevron Stock please use our How to Invest in Chevron Corp guide.You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Complementary Tools for Chevron Stock analysis
When running Chevron Corp's price analysis, check to measure Chevron Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Chevron Corp is operating at the current time. Most of Chevron Corp's value examination focuses on studying past and present price action to predict the probability of Chevron Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chevron Corp's price. Additionally, you may evaluate how the addition of Chevron Corp to your portfolios can decrease your overall portfolio volatility.
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |
Is Chevron Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Chevron Corp. If investors know Chevron will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Chevron Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.40) | Dividend Share 5.95 | Earnings Share 13.29 | Revenue Per Share 107.562 | Quarterly Revenue Growth (0.18) |
The market value of Chevron Corp is measured differently than its book value, which is the value of Chevron that is recorded on the company's balance sheet. Investors also form their own opinion of Chevron Corp's value that differs from its market value or its book value, called intrinsic value, which is Chevron Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Chevron Corp's market value can be influenced by many factors that don't directly affect Chevron Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Chevron Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Chevron Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Chevron Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.